Cwm LLC Has $47,000 Position in Agree Realty Co. (NYSE:ADC)

Cwm LLC lifted its holdings in Agree Realty Co. (NYSE:ADC – Get Rating) by 36.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 696 shares of the real estate investment trust’s stock after purchasing an additional 187 shares during the quarter. Cwm LLC’s holdings in Agree Realty were worth $47,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Deutsche Bank AG boosted its holdings in shares of Agree Realty by 45.6% in the second quarter. Deutsche Bank AG now owns 3,128,353 shares of the real estate investment trust’s stock valued at $225,649,000 after buying an additional 979,274 shares during the period. Prudential Financial Inc. lifted its position in Agree Realty by 858.4% in the 2nd quarter. Prudential Financial Inc. now owns 838,097 shares of the real estate investment trust’s stock valued at $61,341,000 after acquiring an additional 750,647 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Agree Realty by 184.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 926,315 shares of the real estate investment trust’s stock worth $66,815,000 after purchasing an additional 601,073 shares during the period. Aew Capital Management L P bought a new position in Agree Realty during the 2nd quarter worth about $42,342,000. Finally, State Street Corp increased its holdings in Agree Realty by 11.7% during the 1st quarter. State Street Corp now owns 4,313,393 shares of the real estate investment trust’s stock worth $287,195,000 after purchasing an additional 451,462 shares in the last quarter.

Insider Activity

In related news, Director John Rakolta, Jr. purchased 11,000 shares of Agree Realty stock in a transaction that occurred on Wednesday, December 21st. The shares were acquired at an average price of $71.38 per share, with a total value of $785,180.00. Following the completion of the transaction, the director now directly owns 268,816 shares of the company’s stock, valued at approximately $19,188,086.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John Rakolta, Jr. purchased 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The stock was acquired at an average price of $71.38 per share, with a total value of $785,180.00. Following the completion of the purchase, the director now directly owns 268,816 shares in the company, valued at $19,188,086.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Craig Erlich acquired 4,898 shares of Agree Realty stock in a transaction on Thursday, December 29th. The shares were purchased at an average price of $16.25 per share, for a total transaction of $79,592.50. Following the completion of the purchase, the chief operating officer now directly owns 4,898 shares of the company’s stock, valued at $79,592.50. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JMP Securities cut their price target on shares of Agree Realty from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 18th. StockNews.com started coverage on Agree Realty in a report on Wednesday, October 12th. They set a “sell” rating on the stock. Truist Financial cut their price target on Agree Realty from $84.00 to $80.00 and set a “buy” rating for the company in a report on Friday, December 2nd. Morgan Stanley decreased their price objective on shares of Agree Realty from $77.00 to $73.00 and set an “overweight” rating on the stock in a report on Wednesday, November 2nd. Finally, Mizuho raised their target price on shares of Agree Realty from $68.00 to $73.00 in a research note on Thursday, December 8th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

Agree Realty Trading Up 0.5 %

ADC stock opened at $74.13 on Friday. Agree Realty Co. has a 52 week low of $61.62 and a 52 week high of $80.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.98 and a current ratio of 2.98. The company’s 50-day simple moving average is $71.13 and its 200 day simple moving average is $72.00. The company has a market capitalization of $6.57 billion, a PE ratio of 40.51, a price-to-earnings-growth ratio of 3.11 and a beta of 0.43.

Agree Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, January 30th. This represents a $2.88 annualized dividend and a dividend yield of 3.89%. Agree Realty’s dividend payout ratio is presently 157.38%.

About Agree Realty

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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 September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.