OVERSEA CHINESE BANKING Corp Ltd Has $8.09 Million Holdings in Agree Realty Corporation $ADC

OVERSEA CHINESE BANKING Corp Ltd lowered its position in shares of Agree Realty Corporation (NYSE:ADC) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,766 shares of the real estate investment trust’s stock after selling 1,936 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned 0.10% of Agree Realty worth $8,093,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ADC. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Agree Realty by 4.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,609 shares of the real estate investment trust’s stock valued at $896,000 after acquiring an additional 504 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Agree Realty by 61.2% during the first quarter. Janney Montgomery Scott LLC now owns 11,982 shares of the real estate investment trust’s stock valued at $925,000 after acquiring an additional 4,551 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Agree Realty by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust’s stock valued at $365,000 after acquiring an additional 139 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in shares of Agree Realty by 24.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 3,844 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 743 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Agree Realty by 12.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 788,752 shares of the real estate investment trust’s stock valued at $60,608,000 after acquiring an additional 90,408 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Stock Performance

Shares of ADC opened at $74.75 on Monday. The company’s fifty day moving average is $72.45 and its 200-day moving average is $73.69. Agree Realty Corporation has a 12 month low of $67.58 and a 12 month high of $79.65. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 43.71, a price-to-earnings-growth ratio of 2.43 and a beta of 0.55. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, topping the consensus estimate of $1.08 by $0.02. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The company had revenue of $183.22 million for the quarter, compared to analyst estimates of $181.87 million. During the same quarter in the prior year, the business posted $1.03 EPS. Agree Realty’s quarterly revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. Equities analysts expect that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.262 per share. This is a positive change from Agree Realty’s previous monthly dividend of $0.26. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 4.2%. Agree Realty’s dividend payout ratio (DPR) is currently 183.63%.

Wall Street Analysts Forecast Growth

ADC has been the topic of several research reports. Barclays dropped their price objective on shares of Agree Realty from $78.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a research note on Friday. Royal Bank Of Canada upped their price objective on shares of Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley lowered shares of Agree Realty from an “overweight” rating to an “equal weight” rating and set a $75.00 price objective on the stock. in a research note on Friday, July 11th. Finally, Wall Street Zen lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.73.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl purchased 750 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were bought at an average price of $72.84 per share, for a total transaction of $54,630.00. Following the purchase, the director directly owned 27,684 shares in the company, valued at $2,016,502.56. This trade represents a 2.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig Erlich acquired 360 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were purchased at an average cost of $70.84 per share, with a total value of $25,502.40. Following the completion of the acquisition, the insider owned 52,846 shares in the company, valued at $3,743,610.64. This trade represents a 0.69% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 36,742 shares of company stock worth $2,601,704. Company insiders own 1.80% of the company’s stock.

Agree Realty Company Profile

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 December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.