Agree Realty Corporation $ADC Shares Sold by Caxton Associates LLP

Caxton Associates LLP lowered its position in Agree Realty Corporation (NYSE:ADC) by 23.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 32,779 shares of the real estate investment trust’s stock after selling 10,281 shares during the period. Caxton Associates LLP’s holdings in Agree Realty were worth $2,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC grew its stake in Agree Realty by 5.0% in the 1st quarter. Private Advisor Group LLC now owns 3,070 shares of the real estate investment trust’s stock valued at $231,000 after acquiring an additional 145 shares during the last quarter. Evergreen Capital Management LLC raised its position in Agree Realty by 2.7% during the fourth quarter. Evergreen Capital Management LLC now owns 5,946 shares of the real estate investment trust’s stock worth $430,000 after acquiring an additional 154 shares during the last quarter. Azzad Asset Management Inc. ADV raised its position in Agree Realty by 1.1% during the first quarter. Azzad Asset Management Inc. ADV now owns 14,199 shares of the real estate investment trust’s stock worth $1,070,000 after acquiring an additional 154 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Agree Realty by 18.2% in the third quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 171 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Agree Realty by 0.9% in the first quarter. IFM Investors Pty Ltd now owns 18,601 shares of the real estate investment trust’s stock valued at $1,402,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Insider Transactions at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl bought 750 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the purchase, the director owned 34,465 shares of the company’s stock, valued at $2,587,976.85. This trade represents a 2.22% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard Agree bought 5,000 shares of Agree Realty stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average price of $71.41 per share, for a total transaction of $357,050.00. Following the completion of the transaction, the chairman directly owned 90,512 shares of the company’s stock, valued at $6,463,461.92. This trade represents a 5.85% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 19,045 shares of company stock worth $1,415,943 over the last quarter. 1.80% of the stock is currently owned by insiders.

Agree Realty Stock Performance

NYSE:ADC opened at $80.81 on Friday. The firm has a 50 day simple moving average of $76.11 and a 200-day simple moving average of $76.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $9.71 billion, a PE ratio of 43.68, a P/E/G ratio of 2.65 and a beta of 0.47. Agree Realty Corporation has a 1-year low of $69.56 and a 1-year high of $82.08.

Agree Realty (NYSE:ADC) last announced its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $211.49 million for the quarter, compared to analyst estimates of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. Agree Realty’s revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. On average, equities analysts expect that Agree Realty Corporation will post 4.45 EPS for the current year.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.267 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, July 31st. Agree Realty’s dividend payout ratio is currently 172.97%.

Wall Street Analysts Forecast Growth

ADC has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Agree Realty in a research note on Thursday, July 2nd. BMO Capital Markets lowered Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price on the stock. in a research note on Friday, April 17th. Barclays increased their target price on Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup raised their price target on Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, Morgan Stanley set a $81.00 price objective on Agree Realty in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.88.

About Agree Realty

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.