Agree Realty Corporation $ADC Stock Position Increased by CoreCap Advisors LLC

CoreCap Advisors LLC increased its position in Agree Realty Corporation (NYSE:ADC) by 25.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,383 shares of the real estate investment trust’s stock after buying an additional 13,339 shares during the quarter. CoreCap Advisors LLC’s holdings in Agree Realty were worth $4,782,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ADC. Centersquare Investment Management LLC raised its stake in Agree Realty by 1.8% during the 3rd quarter. Centersquare Investment Management LLC now owns 2,896,229 shares of the real estate investment trust’s stock valued at $205,748,000 after purchasing an additional 51,269 shares during the period. Strs Ohio boosted its stake in shares of Agree Realty by 79.2% during the 3rd quarter. Strs Ohio now owns 194,492 shares of the real estate investment trust’s stock valued at $13,817,000 after buying an additional 85,935 shares during the period. AGP Franklin LLC acquired a new position in shares of Agree Realty in the third quarter worth $1,398,000. Cetera Investment Advisers raised its holdings in shares of Agree Realty by 4.4% during the second quarter. Cetera Investment Advisers now owns 32,022 shares of the real estate investment trust’s stock worth $2,340,000 after acquiring an additional 1,351 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new stake in Agree Realty during the third quarter valued at $971,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Up 0.0%

Shares of Agree Realty stock opened at $74.41 on Friday. Agree Realty Corporation has a 52-week low of $68.98 and a 52-week high of $82.08. The firm has a market capitalization of $8.93 billion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 2.89 and a beta of 0.52. 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’s fifty day moving average price is $76.74 and its two-hundred day moving average price is $74.08.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.262 per share. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, March 31st. Agree Realty’s dividend payout ratio (DPR) is 177.40%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays upped their target price on Agree Realty from $78.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Raymond James Financial lifted their price target on Agree Realty from $84.00 to $90.00 and gave the company a “strong-buy” rating in a report on Tuesday, March 17th. UBS Group increased their price objective on Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Royal Bank Of Canada raised their price objective on shares of Agree Realty from $79.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings cut shares of Agree Realty from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.21.

Insider Transactions at Agree Realty

In other Agree Realty news, CFO Peter Coughenour bought 500 shares of the stock in a transaction dated Friday, January 9th. The stock was bought at an average cost of $69.80 per share, for a total transaction of $34,900.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard Agree bought 24,000 shares of Agree Realty stock in a transaction dated Friday, January 9th. The shares were bought at an average price of $70.67 per share, for a total transaction of $1,696,080.00. Following the completion of the transaction, the chairman directly owned 159,855 shares of the company’s stock, valued at $11,296,952.85. This represents a 17.67% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.80% of the company’s stock.

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.