Agree Realty Co. (ADC) Holdings Trimmed by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL decreased its position in Agree Realty Co. (NYSE:ADC) by 9.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,200 shares of the real estate investment trust’s stock after selling 1,700 shares during the period. Virginia Retirement Systems ET AL owned about 0.06% of Agree Realty worth $778,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Delpha Capital Management LLC purchased a new stake in shares of Agree Realty during the fourth quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Agree Realty by 54.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,083 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 1,082 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Agree Realty by 73.5% during the first quarter. SG Americas Securities LLC now owns 3,959 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,677 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Agree Realty during the fourth quarter worth about $211,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Agree Realty during the fourth quarter worth about $213,000. 97.45% of the stock is owned by institutional investors.

Agree Realty opened at $49.62 on Friday, according to Marketbeat.com. The stock has a market cap of $1.45 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 3.43 and a beta of 0.40. Agree Realty Co. has a twelve month low of $49.98 and a twelve month high of $50.58. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.61.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Monday, April 23rd. The real estate investment trust reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). The business had revenue of $34.57 million for the quarter, compared to analyst estimates of $33.45 million. Agree Realty had a return on equity of 6.97% and a net margin of 48.16%. equities analysts predict that Agree Realty Co. will post 2.91 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, June 28th. This is a positive change from Agree Realty’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 4.35%. Agree Realty’s payout ratio is presently 76.47%.

A number of analysts have recently commented on ADC shares. B. Riley set a $58.00 target price on shares of Agree Realty and gave the stock a “buy” rating in a research note on Friday, February 23rd. Zacks Investment Research cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Ladenburg Thalmann set a $55.00 target price on shares of Agree Realty and gave the stock a “buy” rating in a research note on Friday, January 19th. Jefferies Group reissued a “neutral” rating on shares of Agree Realty in a research note on Thursday, March 1st. Finally, ValuEngine raised shares of Agree Realty from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.13.

In other Agree Realty news, Director John Rakolta, Jr. purchased 12,500 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were purchased at an average cost of $47.19 per share, for a total transaction of $589,875.00. Following the completion of the transaction, the director now owns 189,933 shares of the company’s stock, valued at approximately $8,962,938.27. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

Agree Realty Company Profile

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of December 31, 2017, the Company owned and operated a portfolio of 436 properties, located in 43 states and containing approximately 8.7 million square feet of gross leasable space.

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Institutional Ownership by Quarter for Agree Realty (NYSE:ADC)

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