Exchange Traded Concepts LLC Has $3.36 Million Stock Position in Agree Realty Corporation $ADC

Exchange Traded Concepts LLC lessened its stake in shares of Agree Realty Corporation (NYSE:ADC) by 45.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,704 shares of the real estate investment trust’s stock after selling 38,465 shares during the period. Exchange Traded Concepts LLC’s holdings in Agree Realty were worth $3,364,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. grew 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 in the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Agree Realty during the 3rd quarter worth approximately $32,000. Cornerstone Planning Group LLC boosted its holdings in shares of Agree Realty by 1,513.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 454 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Agree Realty by 158.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 356 shares during the last quarter. Finally, Financial Life Planners bought a new position in shares of Agree Realty in the third quarter valued at $46,000. 97.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADC. Truist Financial upped their price target on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Royal Bank Of Canada boosted their price objective 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. Stifel Nicolaus upped their target price on shares of Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings downgraded shares of Agree Realty from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Finally, Mizuho lifted their price target on Agree Realty from $75.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.21.

Insider Activity

In related news, Chairman Richard Agree purchased 24,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were acquired at an average price of $70.67 per share, for a total transaction of $1,696,080.00. Following the purchase, the chairman owned 159,855 shares in the company, valued at approximately $11,296,952.85. This represents a 17.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Peter Coughenour acquired 500 shares of the business’s stock in a transaction on Friday, January 9th. The shares were bought at an average price of $69.80 per share, with a total value of $34,900.00. Following the completion of the transaction, the chief financial officer directly owned 18,544 shares of the company’s stock, valued at approximately $1,294,371.20. The trade was a 2.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.80% of the company’s stock.

Agree Realty Trading Up 0.5%

Shares of Agree Realty stock opened at $75.32 on Wednesday. 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 business has a fifty day simple moving average of $76.82 and a two-hundred day simple moving average of $74.13. Agree Realty Corporation has a 1 year low of $68.98 and a 1 year high of $82.08. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 42.55, a P/E/G ratio of 2.91 and a beta of 0.51.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.262 per share. 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 presently 177.40%.

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.