Agree Realty Corporation $ADC Shares Acquired by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH increased its stake in shares of Agree Realty Corporation (NYSE:ADC) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 388,843 shares of the real estate investment trust’s stock after purchasing an additional 13,341 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.34% of Agree Realty worth $28,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AE Wealth Management LLC raised its holdings in shares of Agree Realty by 3.5% during the third quarter. AE Wealth Management LLC now owns 4,653 shares of the real estate investment trust’s stock valued at $331,000 after acquiring an additional 156 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Agree Realty by 18.2% in the third quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 171 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Agree Realty by 5.4% in the third quarter. QRG Capital Management Inc. now owns 3,395 shares of the real estate investment trust’s stock worth $241,000 after acquiring an additional 174 shares during the last quarter. HighPoint Advisor Group LLC increased its position in shares of Agree Realty by 5.8% during the third quarter. HighPoint Advisor Group LLC now owns 3,162 shares of the real estate investment trust’s stock worth $225,000 after purchasing an additional 174 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Agree Realty by 3.4% during the second quarter. Corient Private Wealth LLC now owns 6,217 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 204 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ADC shares. Truist Financial raised their price objective on Agree Realty from $79.00 to $82.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Weiss Ratings lowered shares of Agree Realty from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Barclays increased their target price on shares of Agree Realty from $78.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Royal Bank Of Canada raised their price target 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. Finally, Raymond James Financial boosted their price target on shares of Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.21.

Insider Activity

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

Agree Realty Stock Up 0.0%

Shares of NYSE:ADC opened at $74.41 on Friday. Agree Realty Corporation has a 52-week low of $68.98 and a 52-week high of $82.08. The stock has a market cap of $8.93 billion, a P/E ratio of 42.04, a PEG ratio of 2.89 and a beta of 0.52. The business has a fifty day moving average of $76.74 and a two-hundred day moving average of $74.08. 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 company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.262 per share. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, March 31st. Agree Realty’s dividend payout ratio (DPR) is presently 177.40%.

About Agree Realty

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.