Walleye Capital LLC boosted its position in Agree Realty Co. (NYSE:ADC – Get Rating) by 32.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,912 shares of the real estate investment trust’s stock after purchasing an additional 5,112 shares during the period. Walleye Capital LLC’s holdings in Agree Realty were worth $1,388,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. First National Bank of Omaha lifted its stake in Agree Realty by 13.4% in the first quarter. First National Bank of Omaha now owns 14,561 shares of the real estate investment trust’s stock valued at $966,000 after purchasing an additional 1,723 shares during the last quarter. Neuberger Berman Group LLC purchased a new position in Agree Realty in the first quarter valued at approximately $1,631,000. Virtu Financial LLC purchased a new position in Agree Realty in the first quarter valued at approximately $284,000. Advisors Asset Management Inc. lifted its stake in Agree Realty by 3.5% in the first quarter. Advisors Asset Management Inc. now owns 49,469 shares of the real estate investment trust’s stock valued at $3,283,000 after purchasing an additional 1,672 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Agree Realty by 1,388.2% in the first quarter. Jane Street Group LLC now owns 117,837 shares of the real estate investment trust’s stock valued at $7,820,000 after purchasing an additional 109,919 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on ADC shares. Raymond James upped their price objective on Agree Realty from $76.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, July 8th. Citigroup boosted their target price on shares of Agree Realty to $80.00 in a report on Monday, August 15th. Truist Financial boosted their target price on shares of Agree Realty from $77.00 to $84.00 and gave the company a “buy” rating in a report on Monday, August 22nd. Bank of America raised shares of Agree Realty from a “neutral” rating to a “buy” rating and boosted their target price for the company from $76.00 to $78.00 in a report on Thursday, June 2nd. Finally, JMP Securities boosted their target price on shares of Agree Realty from $81.00 to $82.00 and gave the company a “market outperform” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $79.86.
Agree Realty Stock Up 0.8 %
Agree Realty (NYSE:ADC – Get Rating) last released its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. Agree Realty had a return on equity of 4.38% and a net margin of 37.13%. During the same period in the previous year, the firm earned $0.89 EPS. As a group, research analysts expect that Agree Realty Co. will post 3.88 earnings per share for the current fiscal year.
Agree Realty Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.234 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.81 dividend on an annualized basis and a yield of 3.86%. Agree Realty’s dividend payout ratio is presently 148.68%.
Agree Realty Profile
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 September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.
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