Aptus Capital Advisors LLC Raises Stock Position in Agree Realty Corporation $ADC

Aptus Capital Advisors LLC boosted its position in shares of Agree Realty Corporation (NYSE:ADC) by 15.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,191 shares of the real estate investment trust’s stock after acquiring an additional 12,037 shares during the period. Aptus Capital Advisors LLC’s holdings in Agree Realty were worth $6,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ADC. Westside Investment Management Inc. grew its holdings 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 worth $31,000 after purchasing an additional 215 shares during the last quarter. Cornerstone Planning Group LLC increased its position in Agree Realty by 1,513.3% during 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake 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. Versant Capital Management Inc raised its stake in Agree Realty by 47.6% in the third quarter. Versant Capital Management Inc now owns 775 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 250 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Agree Realty by 114.7% in the third quarter. Farther Finance Advisors LLC now owns 818 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 437 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Stock Performance

Agree Realty stock opened at $81.34 on Friday. 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 company has a market cap of $9.76 billion, a P/E ratio of 45.96, a price-to-earnings-growth ratio of 3.16 and a beta of 0.52. Agree Realty Corporation has a fifty-two week low of $68.98 and a fifty-two week high of $82.08. The firm’s 50 day simple moving average is $74.91 and its 200-day simple moving average is $73.55.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a dividend of $0.262 per share. The ex-dividend date is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 3.9%. Agree Realty’s dividend payout ratio (DPR) is presently 177.40%.

Insiders Place Their Bets

In related news, Chairman Richard Agree bought 24,000 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was bought at an average price of $70.67 per share, with a total value of $1,696,080.00. Following the purchase, the chairman directly owned 159,855 shares of the company’s stock, valued at approximately $11,296,952.85. This represents a 17.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Peter Coughenour purchased 500 shares of the stock in a transaction dated Friday, January 9th. The shares were bought at an average price of $69.80 per share, for a total transaction of $34,900.00. Following the completion of the acquisition, the chief financial officer owned 18,544 shares in the company, valued at $1,294,371.20. This represents a 2.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 39,500 shares of company stock worth $2,813,680. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ADC. Royal Bank Of Canada boosted their price target on Agree Realty from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Weiss Ratings upgraded shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Stifel Nicolaus upped their price target on shares of Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Mizuho decreased their price target on shares of Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and an average target price of $80.50.

About Agree Realty

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.