Agree Realty Corporation $ADC Shares Acquired by CoreCap Advisors LLC

CoreCap Advisors LLC grew its position in shares of Agree Realty Corporation (NYSE:ADC) by 25.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,383 shares of the real estate investment trust’s stock after purchasing an additional 13,339 shares during the quarter. CoreCap Advisors LLC owned approximately 0.06% of Agree Realty worth $4,782,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. increased its stake in Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 215 shares during the period. Wiser Advisor Group LLC acquired a new position in Agree Realty in the 3rd quarter valued at about $32,000. Cornerstone Planning Group LLC increased its holdings in shares of Agree Realty by 1,513.3% in the third quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 454 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Agree Realty by 158.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 356 shares during the last quarter. Finally, Financial Life Planners acquired a new stake in shares of Agree Realty during the third quarter worth $46,000. 97.83% of the stock is owned by institutional investors and hedge funds.

Agree Realty Trading Up 0.0%

ADC opened at $74.41 on Friday. Agree Realty Corporation has a 12-month low of $68.98 and a 12-month high of $82.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $8.93 billion, a PE ratio of 42.04, a P/E/G ratio of 2.89 and a beta of 0.52. The firm’s fifty day moving average price is $76.74 and its 200 day moving average price is $74.08.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.262 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 4.2%. Agree Realty’s payout ratio is 177.40%.

Insider Transactions at Agree Realty

In related news, CFO Peter Coughenour bought 500 shares of the business’s stock in a transaction on Friday, January 9th. The shares were bought at an average cost of $69.80 per share, for a total transaction of $34,900.00. Following the completion of the purchase, the chief financial officer owned 18,544 shares of the company’s stock, valued at $1,294,371.20. This represents a 2.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard Agree purchased 24,000 shares of Agree Realty stock in a transaction dated Friday, January 9th. The shares were purchased at an average cost of $70.67 per share, with a total value of $1,696,080.00. Following the acquisition, the chairman owned 159,855 shares of the company’s stock, valued at approximately $11,296,952.85. This trade represents a 17.67% increase in their position. The SEC filing for this purchase provides additional information. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADC. Royal Bank Of Canada raised their target price on shares of Agree Realty from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Mizuho lifted their price target on Agree Realty from $75.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. UBS Group upped their price objective on Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Evercore cut their price objective on Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Finally, Weiss Ratings cut shares of Agree Realty from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.21.

Agree Realty 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.