Vise Technologies Inc. bought a new stake in shares of Agree Realty Corporation (NYSE:ADC – Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 18,264 shares of the real estate investment trust’s stock, valued at approximately $1,220,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Agree Realty by 12.0% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 146,842 shares of the real estate investment trust’s stock valued at $9,811,000 after acquiring an additional 15,700 shares in the last quarter. North Dakota State Investment Board grew its holdings in Agree Realty by 8.9% during the 3rd quarter. North Dakota State Investment Board now owns 3,663 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 300 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Agree Realty by 9.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 220,629 shares of the real estate investment trust’s stock worth $14,740,000 after purchasing an additional 19,252 shares during the last quarter. Signaturefd LLC increased its position in shares of Agree Realty by 3.0% in the 3rd quarter. Signaturefd LLC now owns 13,371 shares of the real estate investment trust’s stock worth $893,000 after purchasing an additional 389 shares during the last quarter. Finally, James Investment Research Inc. increased its position in shares of Agree Realty by 41.4% in the 3rd quarter. James Investment Research Inc. now owns 18,821 shares of the real estate investment trust’s stock worth $1,257,000 after purchasing an additional 5,511 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
Agree Realty Stock Performance
Shares of ADC opened at $69.99 on Friday. The business’s fifty day moving average price is $68.25 and its 200 day moving average price is $74.40. Agree Realty Corporation has a 12-month low of $64.34 and a 12-month high of $82.08. The stock has a market capitalization of $9.11 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 3.10 and a beta of 0.40. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.01 and a quick ratio of 1.01.
Agree Realty (NYSE:ADC – Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.68. Agree Realty had a net margin of 29.75% and a return on equity of 4.00%. The firm had revenue of $213.88 million during the quarter, compared to the consensus estimate of $211.52 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. Equities research analysts forecast that Agree Realty Corporation will post 4.45 EPS for the current year.
Agree Realty Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.2710 per share. This represents a $3.25 dividend on an annualized basis and a dividend yield of 4.6%. This is a positive change from Agree Realty’s previous monthly dividend of $0.2670. The ex-dividend date of this dividend is Friday, October 30th. Agree Realty’s dividend payout ratio is currently 167.53%.
Insider Transactions at Agree Realty
In other Agree Realty news, CEO Joey Agree purchased 7,360 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was acquired at an average cost of $68.06 per share, with a total value of $500,921.60. Following the acquisition, the chief executive officer owned 682,465 shares of the company’s stock, valued at approximately $46,448,567.90. This represents a 1.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Craig Erlich acquired 1,000 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were acquired at an average cost of $67.55 per share, with a total value of $67,550.00. Following the transaction, the insider owned 60,388 shares in the company, valued at approximately $4,079,209.40. The trade was a 1.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 48,496 shares of company stock worth $3,418,670. 1.80% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of Agree Realty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. KeyCorp decreased their price target on Agree Realty from $82.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday, October 27th. Stifel Nicolaus lowered their price objective on Agree Realty from $81.50 to $76.50 and set a “buy” rating for the company in a report on Wednesday, October 21st. Barclays lowered their price objective on Agree Realty from $85.00 to $76.00 and set an “equal weight” rating for the company in a report on Tuesday, October 20th. Finally, Weiss Ratings cut Agree Realty from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $79.85.
Check Out Our Latest Analysis on Agree Realty
Agree Realty Company Profile
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