Aptus Capital Advisors LLC Boosts Holdings in Agree Realty Corporation $ADC

Aptus Capital Advisors LLC grew its position in Agree Realty Corporation (NYSE:ADC) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,191 shares of the real estate investment trust’s stock after acquiring an additional 12,037 shares during the quarter. Aptus Capital Advisors LLC owned about 0.08% of Agree Realty worth $6,478,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Agree Realty by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,646,573 shares of the real estate investment trust’s stock valued at $1,111,533,000 after purchasing an additional 329,892 shares during the last quarter. State Street Corp lifted its stake in Agree Realty by 7.1% in the second quarter. State Street Corp now owns 5,764,979 shares of the real estate investment trust’s stock worth $422,629,000 after purchasing an additional 381,438 shares during the last quarter. Centersquare Investment Management LLC boosted its position in shares of Agree Realty by 1.8% during the third quarter. Centersquare Investment Management LLC now owns 2,896,229 shares of the real estate investment trust’s stock valued at $205,748,000 after buying an additional 51,269 shares during the period. Geode Capital Management LLC grew its stake in shares of Agree Realty by 6.8% during the second quarter. Geode Capital Management LLC now owns 2,680,417 shares of the real estate investment trust’s stock valued at $205,489,000 after buying an additional 170,827 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Agree Realty by 65.6% in the third quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust’s stock worth $143,268,000 after buying an additional 799,185 shares during the period. Institutional investors own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ADC shares. Evercore decreased their price target on Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Wells Fargo & Company increased their target price on Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Mizuho decreased their target price on Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Barclays boosted their target price on shares of Agree Realty from $77.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 3rd. Finally, Royal Bank Of Canada upped their price target on shares of Agree Realty from $79.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

Agree Realty Trading Up 0.4%

Shares of NYSE ADC opened at $81.34 on Friday. Agree Realty Corporation has a twelve month low of $68.98 and a twelve month high of $82.08. The firm has a market cap of $9.76 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 3.16 and a beta of 0.52. The business has a fifty day simple moving average of $74.91 and a two-hundred day simple moving average of $73.55. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.54.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.262 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 3.9%. Agree Realty’s payout ratio is 177.40%.

Insiders Place Their Bets

In related news, Director John Rakolta, Jr. purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, December 24th. The shares were acquired at an average cost of $72.18 per share, for a total transaction of $1,082,700.00. Following the acquisition, the director owned 562,606 shares of the company’s stock, valued at $40,608,901.08. The trade was a 2.74% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard Agree purchased 24,000 shares of Agree Realty stock in a transaction dated Friday, January 9th. The stock was bought at an average cost of $70.67 per share, with a total value of $1,696,080.00. Following the completion of the transaction, the chairman owned 159,855 shares in the company, valued at approximately $11,296,952.85. This represents a 17.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 39,500 shares of company stock worth $2,813,680 over the last 90 days. Company insiders own 1.80% of the company’s stock.

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.