Westpac Banking Corp cut its holdings in shares of Agree Realty Co. (NYSE:ADC) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,554 shares of the real estate investment trust’s stock after selling 410 shares during the period. Westpac Banking Corp owned about 0.17% of Agree Realty worth $4,647,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC increased its stake in Agree Realty by 555.2% during the first quarter. Nisa Investment Advisors LLC now owns 1,900 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 1,610 shares during the period. Quadrant Capital Group LLC increased its stake in Agree Realty by 224.6% during the first quarter. Quadrant Capital Group LLC now owns 1,993 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 1,379 shares during the period. Hanseatic Management Services Inc. purchased a new stake in Agree Realty during the first quarter worth about $157,000. Janney Montgomery Scott LLC purchased a new stake in Agree Realty during the first quarter worth about $217,000. Finally, Clarkston Capital Partners LLC purchased a new stake in Agree Realty during the first quarter worth about $222,000. Institutional investors own 95.54% of the company’s stock.
In related news, Director John Rakolta, Jr. acquired 10,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was acquired at an average cost of $64.20 per share, with a total value of $642,000.00. Following the completion of the transaction, the director now owns 216,088 shares in the company, valued at approximately $13,872,849.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Farris G. Kalil sold 1,034 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $63.70, for a total value of $65,865.80. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $509,600. The disclosure for this sale can be found here. Over the last three months, insiders have bought 10,800 shares of company stock valued at $695,777. Corporate insiders own 3.10% of the company’s stock.
Shares of NYSE:ADC opened at $72.27 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $3.03 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 3.95 and a beta of 0.06. The firm’s 50-day moving average is $66.61 and its two-hundred day moving average is $66.69. Agree Realty Co. has a 1 year low of $50.72 and a 1 year high of $72.48.
Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.29). Agree Realty had a return on equity of 5.19% and a net margin of 39.76%. The company had revenue of $44.92 million for the quarter, compared to analyst estimates of $44.05 million. Analysts expect that Agree Realty Co. will post 3.03 EPS for the current fiscal year.
About Agree Realty
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of March 31, 2019, the Company owned and operated a portfolio of 694 properties, located in 46 states and containing approximately 11.9 million square feet of gross leasable space.
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