Virtus ETF Advisers LLC Sells 302 Shares of Agree Realty Co. (NYSE:ADC)

Virtus ETF Advisers LLC trimmed its position in shares of Agree Realty Co. (NYSE:ADCFree Report) by 9.0% during the third quarter, Holdings Channel.com reports. The fund owned 3,036 shares of the real estate investment trust’s stock after selling 302 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Agree Realty were worth $168,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Ensign Peak Advisors Inc boosted its holdings in Agree Realty by 0.7% during the 1st quarter. Ensign Peak Advisors Inc now owns 23,042 shares of the real estate investment trust’s stock worth $1,581,000 after acquiring an additional 150 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Agree Realty by 2.6% in the 4th quarter. Baird Financial Group Inc. now owns 6,812 shares of the real estate investment trust’s stock worth $484,000 after buying an additional 171 shares during the last quarter. State of Wyoming boosted its holdings in shares of Agree Realty by 34.8% in the 2nd quarter. State of Wyoming now owns 666 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 172 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Agree Realty by 3.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,457 shares of the real estate investment trust’s stock worth $362,000 after buying an additional 183 shares during the last quarter. Finally, First National Bank of Omaha boosted its holdings in shares of Agree Realty by 0.7% in the 2nd quarter. First National Bank of Omaha now owns 28,520 shares of the real estate investment trust’s stock worth $1,865,000 after buying an additional 204 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Agree Realty from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. JMP Securities raised shares of Agree Realty from a “market perform” rating to an “outperform” rating and set a $71.00 price objective on the stock in a report on Monday, January 22nd. BNP Paribas downgraded shares of Agree Realty from an “outperform” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a report on Wednesday, December 13th. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Finally, Mizuho upped their price objective on shares of Agree Realty from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and a consensus target price of $68.44.

View Our Latest Research Report on ADC

Insider Buying and Selling at Agree Realty

In other Agree Realty news, CEO Joey Agree purchased 1,350 shares of Agree Realty stock in a transaction on Monday, December 11th. The shares were acquired at an average cost of $58.47 per share, for a total transaction of $78,934.50. Following the completion of the transaction, the chief executive officer now directly owns 554,603 shares of the company’s stock, valued at $32,427,637.41. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Agree Realty news, Chairman Richard Agree purchased 10,500 shares of Agree Realty stock in a transaction on Wednesday, January 10th. The shares were acquired at an average cost of $62.57 per share, for a total transaction of $656,985.00. Following the completion of the transaction, the chairman now directly owns 119,855 shares of the company’s stock, valued at $7,499,327.35. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joey Agree acquired 1,350 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were bought at an average cost of $58.47 per share, with a total value of $78,934.50. Following the purchase, the chief executive officer now owns 554,603 shares of the company’s stock, valued at approximately $32,427,637.41. The disclosure for this purchase can be found here. Insiders have acquired 26,550 shares of company stock worth $1,651,629 over the last ninety days. Insiders own 1.60% of the company’s stock.

Agree Realty Trading Down 3.0 %

Shares of ADC opened at $59.36 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $61.31 and its 200-day moving average price is $60.10. The stock has a market cap of $5.97 billion, a PE ratio of 34.71, a P/E/G ratio of 2.31 and a beta of 0.54. Agree Realty Co. has a twelve month low of $52.69 and a twelve month high of $75.09.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.247 per share. This represents a $2.96 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Tuesday, January 30th. Agree Realty’s payout ratio is currently 173.10%.

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.

Further Reading

Want to see what other hedge funds are holding ADC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agree Realty Co. (NYSE:ADCFree Report).

Institutional Ownership by Quarter for Agree Realty (NYSE:ADC)

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