Agree Realty Corporation $ADC Holdings Lifted by Bamco Inc. NY

Bamco Inc. NY increased its position in shares of Agree Realty Corporation (NYSE:ADC) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,128 shares of the real estate investment trust’s stock after acquiring an additional 9,500 shares during the period. Bamco Inc. NY owned approximately 0.06% of Agree Realty worth $5,266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in Agree Realty by 5.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 197,025 shares of the real estate investment trust’s stock valued at $13,998,000 after acquiring an additional 10,643 shares during the last quarter. Creative Planning grew its stake in shares of Agree Realty by 36.2% in the 3rd quarter. Creative Planning now owns 119,764 shares of the real estate investment trust’s stock worth $8,508,000 after purchasing an additional 31,828 shares during the last quarter. Amundi raised its holdings in shares of Agree Realty by 3.9% in the 3rd quarter. Amundi now owns 54,885 shares of the real estate investment trust’s stock worth $3,854,000 after purchasing an additional 2,078 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Agree Realty during the third quarter valued at approximately $20,779,000. Finally, California State Teachers Retirement System lifted its stake in Agree Realty by 4.6% during the third quarter. California State Teachers Retirement System now owns 109,004 shares of the real estate investment trust’s stock valued at $7,744,000 after purchasing an additional 4,789 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ADC has been the topic of several recent research reports. UBS Group lifted their price target on shares of Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Wells Fargo & Company increased their price objective on Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada raised their price objective on Agree Realty from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Barclays lifted their target price on Agree Realty from $78.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, January 27th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.59.

Insider Transactions at Agree Realty

In other Agree Realty news, Chairman Richard Agree purchased 24,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chairman owned 159,855 shares of the company’s stock, valued at approximately $11,296,952.85. This represents a 17.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Rakolta, Jr. acquired 15,000 shares of Agree Realty stock in a transaction that occurred on Wednesday, December 24th. The stock was acquired at an average cost of $72.18 per share, with a total value of $1,082,700.00. Following the completion of the purchase, the director owned 562,606 shares in the company, valued at approximately $40,608,901.08. This represents a 2.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 39,500 shares of company stock valued at $2,813,680 over the last quarter. Company insiders own 1.80% of the company’s stock.

Agree Realty Stock Up 0.7%

ADC stock opened at $79.78 on Tuesday. 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 firm has a market capitalization of $9.58 billion, a P/E ratio of 45.08, a P/E/G ratio of 3.08 and a beta of 0.52. Agree Realty Corporation has a 52-week low of $68.98 and a 52-week high of $82.08. The company’s 50 day simple moving average is $75.84 and its 200-day simple moving average is $73.85.

Agree Realty Dividend Announcement

The firm also recently announced 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 is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. Agree Realty’s dividend payout ratio is presently 177.40%.

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.