Southside Capital LLC Purchases Shares of 40,000 Agree Realty Co. (NYSE:ADC)

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Southside Capital LLC purchased a new stake in shares of Agree Realty Co. (NYSE:ADC) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 40,000 shares of the real estate investment trust’s stock, valued at approximately $2,562,000. Southside Capital LLC owned approximately 0.10% of Agree Realty as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADC. Wells Fargo & Company MN grew its position in shares of Agree Realty by 13.2% in the second quarter. Wells Fargo & Company MN now owns 245,061 shares of the real estate investment trust’s stock valued at $15,697,000 after purchasing an additional 28,543 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Agree Realty in the second quarter valued at about $247,000. Securian Asset Management Inc grew its position in shares of Agree Realty by 6.6% in the second quarter. Securian Asset Management Inc now owns 215,869 shares of the real estate investment trust’s stock valued at $13,826,000 after purchasing an additional 13,370 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Agree Realty by 18.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,104 shares of the real estate investment trust’s stock valued at $1,160,000 after purchasing an additional 2,760 shares during the last quarter. Finally, Everence Capital Management Inc. grew its position in shares of Agree Realty by 34.8% in the second quarter. Everence Capital Management Inc. now owns 6,430 shares of the real estate investment trust’s stock valued at $412,000 after purchasing an additional 1,660 shares during the last quarter. 95.25% of the stock is owned by hedge funds and other institutional investors.

In other news, Director John Rakolta, Jr. bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were acquired at an average cost of $64.20 per share, with a total value of $642,000.00. Following the completion of the transaction, the director now directly owns 216,088 shares in the company, valued at $13,872,849.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Farris G. Kalil sold 1,034 shares of Agree Realty stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $63.70, for a total value of $65,865.80. Following the sale, the director now directly owns 8,000 shares in the company, valued at $509,600. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Shares of NYSE:ADC traded up $0.51 during midday trading on Tuesday, hitting $73.81. The company’s stock had a trading volume of 12,868 shares, compared to its average volume of 292,297. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 4.05 and a beta of 0.06. The stock’s 50 day simple moving average is $68.17 and its 200 day simple moving average is $67.01. Agree Realty Co. has a fifty-two week low of $50.72 and a fifty-two week high of $73.37. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.42 and a current ratio of 0.42.

Agree Realty (NYSE:ADC) last released its earnings results on Monday, July 22nd. The real estate investment trust reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). Agree Realty had a return on equity of 5.19% and a net margin of 39.76%. The firm had revenue of $44.92 million for the quarter, compared to analyst estimates of $44.05 million. As a group, analysts anticipate that Agree Realty Co. will post 3.03 EPS for the current year.

About Agree Realty

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 March 31, 2019, the Company owned and operated a portfolio of 694 properties, located in 46 states and containing approximately 11.9 million square feet of gross leasable space.

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

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