Agree Realty Corporation $ADC Stake Increased by Swiss National Bank

Swiss National Bank lifted its holdings in Agree Realty Corporation (NYSE:ADC) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 227,382 shares of the real estate investment trust’s stock after buying an additional 9,100 shares during the period. Swiss National Bank owned about 0.19% of Agree Realty worth $17,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ADC. Clearstead Trust LLC raised its position in Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 242 shares during the period. Wiser Advisor Group LLC acquired a new stake in Agree Realty during the 3rd quarter worth about $32,000. Clearstead Advisors LLC boosted its position in Agree Realty by 163.8% during the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 285 shares during the period. Creative Financial Designs Inc. ADV grew its stake in Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 192 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in Agree Realty by 178.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Richard Agree purchased 5,000 shares of Agree Realty stock in a transaction on Thursday, June 4th. The stock was bought at an average price of $71.41 per share, with a total value of $357,050.00. Following the completion of the transaction, the chairman directly owned 90,512 shares of the company’s stock, valued at approximately $6,463,461.92. This represents a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg Lehmkuhl purchased 750 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $75.09 per share, with a total value of $56,317.50. Following the purchase, the director owned 34,465 shares in the company, valued at $2,587,976.85. This represents a 2.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 19,045 shares of company stock valued at $1,415,943 over the last quarter. Insiders own 1.80% of the company’s stock.

Agree Realty Stock Performance

Shares of ADC opened at $80.81 on Friday. The company’s fifty day moving average is $76.11 and its 200-day moving average is $76.16. Agree Realty Corporation has a 12 month low of $69.56 and a 12 month high of $82.08. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 43.68, a price-to-earnings-growth ratio of 2.65 and a beta of 0.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $211.49 million during 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 quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. Equities analysts expect that Agree Realty Corporation will post 4.45 EPS for the current fiscal year.

Agree Realty Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley set a $81.00 price target on shares of Agree Realty in a research report on Tuesday, April 21st. Huntington began coverage on shares of Agree Realty in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $84.00 target price for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Agree Realty in a research note on Thursday, July 2nd. Mizuho lowered their price target on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Finally, Robert W. Baird increased their price objective on Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.88.

Agree Realty Company Profile

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.