Agree Realty Corporation (NYSE:ADC) CFO Clayton R. Thelen purchased 1,010 shares of the business’s stock in a transaction on Monday, December 11th. The stock was purchased at an average price of $49.56 per share, for a total transaction of $50,055.60. Following the acquisition, the chief financial officer now owns 5,073 shares of the company’s stock, valued at approximately $251,417.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Agree Realty Corporation (NYSE ADC) traded up $0.25 on Monday, hitting $49.69. The company had a trading volume of 180,400 shares, compared to its average volume of 205,260. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1,451.73, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 3.67 and a beta of 0.56. Agree Realty Corporation has a one year low of $43.12 and a one year high of $51.50.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.27). The business had revenue of $30.39 million for the quarter, compared to analysts’ expectations of $29.48 million. Agree Realty had a net margin of 49.26% and a return on equity of 7.27%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. sell-side analysts anticipate that Agree Realty Corporation will post 2.71 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.19%. This is an increase from Agree Realty’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, December 19th. Agree Realty’s dividend payout ratio (DPR) is presently 99.02%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP increased its position in shares of Agree Realty by 20.8% during the third quarter. GSA Capital Partners LLP now owns 34,515 shares of the real estate investment trust’s stock valued at $1,694,000 after acquiring an additional 5,947 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in shares of Agree Realty during the third quarter valued at approximately $989,000. California Public Employees Retirement System increased its position in shares of Agree Realty by 7.3% during the third quarter. California Public Employees Retirement System now owns 45,079 shares of the real estate investment trust’s stock valued at $2,212,000 after acquiring an additional 3,079 shares during the last quarter. Boothbay Fund Management LLC increased its position in shares of Agree Realty by 18.6% during the third quarter. Boothbay Fund Management LLC now owns 11,488 shares of the real estate investment trust’s stock valued at $564,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its position in shares of Agree Realty by 2.1% during the third quarter. Uniplan Investment Counsel Inc. now owns 403,356 shares of the real estate investment trust’s stock valued at $19,796,000 after acquiring an additional 8,196 shares during the last quarter. 87.22% of the stock is owned by institutional investors.

Several analysts have recently commented on ADC shares. Zacks Investment Research raised Agree Realty from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, October 25th. FBR & Co reissued a “buy” rating and issued a $58.00 price objective on shares of Agree Realty in a research note on Tuesday, October 24th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Agree Realty in a research note on Tuesday, October 24th. Stifel Nicolaus reissued a “buy” rating and issued a $54.00 price objective on shares of Agree Realty in a research note on Tuesday, October 24th. Finally, B. Riley set a $58.00 price objective on Agree Realty and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Agree Realty presently has a consensus rating of “Buy” and an average price target of $52.78.

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Agree Realty Company Profile

Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).

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