ProShare Advisors LLC Decreases Stake in Agree Realty Co. (NYSE:ADC)

ProShare Advisors LLC reduced its stake in Agree Realty Co. (NYSE:ADC – Free Report) by 96.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,444 shares of the real estate investment trust’s stock after selling 142,445 shares during the period. ProShare Advisors LLC’s holdings in Agree Realty were worth $356,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its stake in Agree Realty by 7,150.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 435 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 429 shares during the period. Atticus Wealth Management LLC purchased a new position in shares of Agree Realty during the second quarter valued at approximately $33,000. Janiczek Wealth Management LLC increased its stake in shares of Agree Realty by 1,044.8% during the second quarter. Janiczek Wealth Management LLC now owns 664 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 606 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in shares of Agree Realty during the fourth quarter valued at approximately $71,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Agree Realty during the fourth quarter valued at approximately $71,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ADC shares. Truist Financial reduced their target price on Agree Realty from $74.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, November 27th. Wells Fargo & Company initiated coverage on Agree Realty in a research note on Wednesday, September 20th. They set an “overweight” rating and a $70.00 target price on the stock. Royal Bank of Canada reduced their price target on Agree Realty from $74.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. Mizuho reduced their price target on Agree Realty from $70.00 to $67.00 in a research note on Thursday, August 10th. Finally, StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.44.

View Our Latest Stock Analysis on Agree Realty

Agree Realty Trading Up 1.5 %

Agree Realty stock opened at $60.11 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $56.34 and its two-hundred day simple moving average is $61.26. Agree Realty Co. has a 12 month low of $52.69 and a 12 month high of $75.71. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 35.15, a price-to-earnings-growth ratio of 2.37 and a beta of 0.53.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be issued a $0.247 dividend. This represents a $2.96 annualized dividend and a yield of 4.93%. The ex-dividend date is Wednesday, November 29th. Agree Realty’s dividend payout ratio (DPR) is 173.10%.

Insiders Place Their Bets

In related news, CEO Joey Agree bought 4,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were acquired at an average cost of $53.84 per share, with a total value of $215,360.00. Following the completion of the acquisition, the chief executive officer now owns 553,253 shares of the company’s stock, valued at approximately $29,787,141.52. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Agree Realty news, CEO Joey Agree purchased 4,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were purchased at an average cost of $53.84 per share, with a total value of $215,360.00. Following the completion of the acquisition, the chief executive officer now directly owns 553,253 shares in the company, valued at approximately $29,787,141.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Craig Erlich purchased 1,800 shares of the stock in a transaction dated Thursday, September 28th. The shares were acquired at an average cost of $55.25 per share, for a total transaction of $99,450.00. Following the completion of the acquisition, the insider now owns 38,060 shares of the company’s stock, valued at $2,102,815. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 65,800 shares of company stock valued at $3,714,810. 1.60% of the stock is currently owned by corporate insiders.

About Agree Realty (Free Report)

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of September 30, 2023, the Company owned and operated a portfolio of 2,084 properties, located in 49 states and containing approximately 43.2 million square feet of gross leasable area.

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