Dimensional Fund Advisors LP Has $133.50 Million Stock Holdings in Agree Realty Corporation $ADC

Dimensional Fund Advisors LP grew its holdings in Agree Realty Corporation (NYSE:ADC) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,771,018 shares of the real estate investment trust’s stock after purchasing an additional 89,009 shares during the period. Dimensional Fund Advisors LP owned approximately 1.47% of Agree Realty worth $133,498,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Agree Realty by 7.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,592 shares of the real estate investment trust’s stock worth $58,916,000 after buying an additional 54,478 shares in the last quarter. Vision Capital Corp acquired a new stake in shares of Agree Realty during the 4th quarter valued at $3,920,000. Pasadena Private Wealth LLC bought a new stake in Agree Realty during the 4th quarter worth $1,349,000. Northwestern Mutual Wealth Management Co. grew its position in Agree Realty by 6,172.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 100,607 shares of the real estate investment trust’s stock worth $6,926,000 after acquiring an additional 99,003 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC increased its holdings in Agree Realty by 6.2% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 674,524 shares of the real estate investment trust’s stock worth $48,586,000 after purchasing an additional 39,119 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analyst Weigh In

ADC has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their price target on Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group initiated coverage on Agree Realty in a research note on Monday, June 1st. They issued a “buy” rating and a $84.00 price objective for the company. Robert W. Baird raised their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Mizuho cut their target price on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Huntington assumed coverage on shares of Agree Realty in a report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.88.

Insider Transactions at Agree Realty

In other Agree Realty news, CEO Joey Agree bought 13,295 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the purchase, the chief executive officer directly owned 675,105 shares of the company’s stock, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Greg Lehmkuhl bought 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $75.09 per share, with a total value of $56,317.50. Following the purchase, the director directly owned 34,465 shares of the company’s stock, valued at $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 19,045 shares of company stock valued at $1,415,943. Corporate insiders own 1.80% of the company’s stock.

Agree Realty Trading Down 0.2%

NYSE:ADC opened at $80.46 on Tuesday. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s fifty day moving average is $76.21 and its 200-day moving average is $76.27. The firm has a market cap of $9.66 billion, a P/E ratio of 43.49, a P/E/G ratio of 2.68 and a beta of 0.47.

Agree Realty Dividend Announcement

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

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.