UBS Group AG Has $4.85 Million Stake in Agree Realty Co. (NYSE:ADC)

UBS Group AG grew its holdings in Agree Realty Co. (NYSE:ADC – Get Rating) by 534.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,729 shares of the real estate investment trust’s stock after buying an additional 60,432 shares during the period. UBS Group AG owned 0.08% of Agree Realty worth $4,848,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Natixis Advisors L.P. lifted its position in shares of Agree Realty by 140.3% in the second quarter. Natixis Advisors L.P. now owns 76,017 shares of the real estate investment trust’s stock valued at $5,482,000 after buying an additional 44,388 shares during the last quarter. Keybank National Association OH lifted its holdings in Agree Realty by 15.9% during the 2nd quarter. Keybank National Association OH now owns 4,614 shares of the real estate investment trust’s stock worth $333,000 after purchasing an additional 632 shares during the last quarter. Cincinnati Insurance Co. lifted its holdings in Agree Realty by 43.2% during the 3rd quarter. Cincinnati Insurance Co. now owns 222,000 shares of the real estate investment trust’s stock worth $15,003,000 after purchasing an additional 67,000 shares during the last quarter. 1620 Investment Advisors Inc. lifted its holdings in Agree Realty by 2.4% during the 2nd quarter. 1620 Investment Advisors Inc. now owns 7,415 shares of the real estate investment trust’s stock worth $535,000 after purchasing an additional 176 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Agree Realty by 13.7% during the 3rd quarter. Raymond James & Associates now owns 260,587 shares of the real estate investment trust’s stock worth $17,611,000 after purchasing an additional 31,364 shares during the last quarter.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms recently weighed in on ADC. Truist Financial dropped 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. Mizuho lifted their price objective on Agree Realty from $68.00 to $73.00 in a report on Thursday, December 8th. Stifel Nicolaus lifted their price objective on Agree Realty from $76.75 to $77.50 in a report on Wednesday, February 15th. Morgan Stanley dropped their price objective on Agree Realty from $77.00 to $73.00 and set an “overweight” rating for the company in a report on Wednesday, November 2nd. Finally, Raymond James lifted their price objective on Agree Realty from $80.00 to $81.00 and gave the company a “strong-buy” rating in a report on Monday, January 9th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.23.

Agree Realty Stock Performance

Shares of ADC opened at $70.78 on Wednesday. The firm has a market capitalization of $6.38 billion, a P/E ratio of 38.68, a P/E/G ratio of 2.99 and a beta of 0.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50 day moving average price of $72.87 and a two-hundred day moving average price of $71.53. Agree Realty Co. has a 52 week low of $62.63 and a 52 week high of $80.44.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 14th. Shareholders of record on Tuesday, February 28th will be issued a dividend of $0.24 per share. This represents a $2.88 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Monday, February 27th. Agree Realty’s dividend payout ratio (DPR) is 157.38%.

Agree Realty Company Profile

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Agree Realty Corp. is a real estate investment trust, which focuses on the ownership, development, acquisition, and management of retail properties net leased to national tenants. It specializes in acquiring and developing net leased retail properties for retail tenants. The company was founded by Richard Agree in 1971 and is headquartered in Bloomfield Hills, MI.