New York State Common Retirement Fund Lowers Holdings in Agree Realty Corporation $ADC

New York State Common Retirement Fund reduced its stake in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 37.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,716 shares of the real estate investment trust's stock after selling 40,610 shares during the period. New York State Common Retirement Fund owned 0.06% of Agree Realty worth $4,947,000 as of its most recent SEC filing.3 Stocks to Buy After Heavy Insider BuyingSeveral other hedge funds have also modified their holdings of ADC. Twin Tree Management LP grew its stake in shares of Agree Realty by 615,421.4% during the 1st quarter. Twin Tree Management LP now owns 86,173 shares of the real estate investment trust's stock valued at $6,652,000 after buying an additional 86,159 shares during the period. Ascent Group LLC purchased a new position in shares of Agree Realty in the 1st quarter valued at $2,459,000. Cubist Systematic Strategies LLC acquired a new position in shares of Agree Realty during the first quarter worth about $1,161,000. Cetera Investment Advisers lifted its position in Agree Realty by 4.4% during the 2nd quarter. Cetera Investment Advisers now owns 32,022 shares of the real estate investment trust's stock worth $2,340,000 after acquiring an additional 1,351 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Agree Realty by 98.7% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 821,090 shares of the real estate investment trust's stock valued at $63,380,000 after purchasing an additional 407,820 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds. Wall Street Analyst Weigh InADC has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Agree Realty in a research report on Wednesday, October 8th. UBS Group raised their price target on Agree Realty from $80.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Truist Financial dropped their price objective on shares of Agree Realty from $84.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, October 24th. Stifel Nicolaus set a $83.50 price objective on shares of Agree Realty in a research report on Tuesday, November 25th. Finally, Royal Bank Of Canada upped their target price on shares of Agree Realty from $79.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, October 23rd. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $81.29.Read Our Latest Research Report on ADCInsider Activity at Agree RealtyIn other news, insider Craig Erlich bought 360 shares of the firm's stock in a transaction that occurred on Friday, October 3rd. The stock was acquired at an average price of $70.84 per share, with a total value of $25,502.40. Following the completion of the purchase, the insider directly owned 52,846 shares of the company's stock, valued at $3,743,610.64. This represents a 0.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Rakolta, Jr. purchased 25,154 shares of the company's stock in a transaction on Tuesday, October 7th. The stock was acquired at an average price of $70.41 per share, for a total transaction of $1,771,093.14. Following the completion of the transaction, the director owned 553,700 shares of the company's stock, valued at $38,986,017. This represents a 4.76% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 29,042 shares of company stock valued at $2,045,778 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders. Agree Realty Stock Down 0.7%ADC stock opened at $73.89 on Friday. The firm's 50-day moving average is $73.38 and its two-hundred day moving average is $73.24. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 43.21, a price-to-earnings-growth ratio of 2.40 and a beta of 0.54. Agree Realty Corporation has a 52 week low of $67.58 and a 52 week high of $79.65. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.59. Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $183.22 million during the quarter, compared to analysts' expectations of $181.87 million. During the same period last year, the firm posted $1.03 earnings per share. The business's 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. On average, analysts forecast that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year. Agree Realty Dividend AnnouncementThe company also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be issued a $0.262 dividend. The ex-dividend date is Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 4.3%. Agree Realty's dividend payout ratio is 183.63%. Agree Realty Profile (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 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.Read MoreFive stocks we like better than Agree Realty3 Must-Buy Warren Buffett Stocks for Volatile TimesUlta’s Stock May Be Set for a Glow-Up—20% Upside Ahead?What is the Nikkei 225 index? Gates Foundation Sells MSFT Stock—Should Investors Be Worried?ESG Stocks, What Investors Should KnowMarketBeat Week in Review – 12/1 - 12/5This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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