Agree Realty (NYSE:ADC) Director Purchases $11,050.74 in Stock

Agree Realty Corporation (NYSE:ADC) Director John Rakolta, Jr. acquired 146 shares of Agree Realty stock in a transaction that occurred on Wednesday, April 1st. The shares were purchased at an average price of $75.69 per share, with a total value of $11,050.74. Following the purchase, the director owned 146 shares in the company, valued at $11,050.74. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Agree Realty Price Performance

Shares of ADC opened at $76.63 on Monday. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 43.30, a price-to-earnings-growth ratio of 2.58 and a beta of 0.53. Agree Realty Corporation has a twelve month low of $68.98 and a twelve month high of $82.08. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $77.07 and a two-hundred day moving average of $74.21.

Agree Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.262 per share. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, March 31st. Agree Realty’s payout ratio is 177.40%.

Institutional Trading of Agree Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADC. Jane Street Group LLC raised its stake in shares of Agree Realty by 268.9% in the first quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock worth $2,112,000 after purchasing an additional 19,948 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Agree Realty in the second quarter valued at approximately $1,414,000. Northwestern Mutual Wealth Management Co. boosted its position in Agree Realty by 158.9% in the second 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. Norges Bank acquired a new position in Agree Realty in the 2nd quarter worth approximately $65,030,000. Finally, M&T Bank Corp increased its holdings in Agree Realty by 12.3% in the 2nd quarter. M&T Bank Corp now owns 37,556 shares of the real estate investment trust’s stock worth $2,744,000 after buying an additional 4,104 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ADC shares. Mizuho increased their price target on Agree Realty from $75.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Wall Street Zen upgraded Agree Realty from a “sell” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus upped their price objective 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. Truist Financial increased their price objective on shares of Agree Realty from $79.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Finally, Raymond James Financial lifted their target price on shares of Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.21.

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.