Cwm LLC Buys 187 Shares of Agree Realty Co. (NYSE:ADC)

Cwm LLC boosted its stake in shares of Agree Realty Co. (NYSE:ADCGet Rating) by 36.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 696 shares of the real estate investment trust’s stock after buying an additional 187 shares during the quarter. Cwm LLC’s holdings in Agree Realty were worth $47,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG lifted its stake in shares of Agree Realty by 45.6% in the second quarter. Deutsche Bank AG now owns 3,128,353 shares of the real estate investment trust’s stock worth $225,649,000 after acquiring an additional 979,274 shares during the period. Prudential Financial Inc. lifted its position in shares of Agree Realty by 858.4% in the 2nd quarter. Prudential Financial Inc. now owns 838,097 shares of the real estate investment trust’s stock worth $61,341,000 after purchasing an additional 750,647 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Agree Realty by 184.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 926,315 shares of the real estate investment trust’s stock valued at $66,815,000 after purchasing an additional 601,073 shares during the last quarter. Aew Capital Management L P acquired a new stake in shares of Agree Realty during the second quarter worth $42,342,000. Finally, State Street Corp raised its stake in Agree Realty by 11.7% during the first quarter. State Street Corp now owns 4,313,393 shares of the real estate investment trust’s stock worth $287,195,000 after buying an additional 451,462 shares during the last quarter.

Agree Realty Trading Up 0.5 %

NYSE:ADC opened at $74.13 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.98 and a quick ratio of 2.98. Agree Realty Co. has a one year low of $61.62 and a one year high of $80.44. The company has a market cap of $6.57 billion, a PE ratio of 40.51, a PEG ratio of 3.11 and a beta of 0.43. The firm has a 50-day moving average of $71.13 and a 200-day moving average of $72.00.

Agree Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be issued a dividend of $0.24 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Monday, January 30th. Agree Realty’s dividend payout ratio is currently 157.38%.

Insider Transactions at Agree Realty

In related news, COO Craig Erlich bought 4,898 shares of the business’s stock in a transaction that occurred on Thursday, December 29th. The shares were bought at an average price of $16.25 per share, with a total value of $79,592.50. Following the completion of the transaction, the chief operating officer now directly owns 4,898 shares in the company, valued at $79,592.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John Rakolta, Jr. acquired 11,000 shares of the firm’s stock in a transaction on Wednesday, December 21st. The stock was purchased at an average price of $71.38 per share, for a total transaction of $785,180.00. Following the purchase, the director now owns 268,816 shares in the company, valued at approximately $19,188,086.08. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Craig Erlich bought 4,898 shares of the business’s stock in a transaction dated Thursday, December 29th. The stock was acquired at an average price of $16.25 per share, for a total transaction of $79,592.50. Following the purchase, the chief operating officer now directly owns 4,898 shares in the company, valued at $79,592.50. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JMP Securities decreased their price target on Agree Realty from $82.00 to $75.00 and set a “market outperform” rating for the company in a report on Tuesday, October 18th. Raymond James lifted their target price on Agree Realty from $80.00 to $81.00 and gave the stock a “strong-buy” rating in a report on Monday, January 9th. Truist Financial cut their price target on Agree Realty from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, December 2nd. Mizuho lifted their price objective on shares of Agree Realty from $68.00 to $73.00 in a research note on Thursday, December 8th. Finally, Morgan Stanley cut their target price on shares of Agree Realty from $77.00 to $73.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.50.

Agree Realty Profile

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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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Institutional Ownership by Quarter for Agree Realty (NYSE:ADC)

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