Agree Realty Co. (NYSE:ADC) Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. increased its stake in shares of Agree Realty Co. (NYSE:ADC – Get Rating) by 2.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 11,807 shares of the real estate investment trust’s stock after acquiring an additional 285 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Agree Realty were worth $837,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TCI Wealth Advisors Inc. raised its stake in shares of Agree Realty by 56.2% during the fourth quarter. TCI Wealth Advisors Inc. now owns 392 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 141 shares during the period. 1620 Investment Advisors Inc. boosted its position in Agree Realty by 2.0% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 7,566 shares of the real estate investment trust’s stock valued at $511,000 after buying an additional 151 shares during the last quarter. Evergreen Capital Management LLC boosted its position in Agree Realty by 3.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 4,618 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 171 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Agree Realty by 3.5% during the first quarter. Ameritas Investment Partners Inc. now owns 5,457 shares of the real estate investment trust’s stock valued at $362,000 after acquiring an additional 183 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of Agree Realty by 38.7% during the third quarter. Huntington National Bank now owns 709 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 198 shares during the last quarter.

Analysts Set New Price Targets

ADC has been the subject of a number of analyst reports. JMP Securities downgraded Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 21st. Mizuho decreased their price target on shares of Agree Realty from $78.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, March 9th. StockNews.com assumed coverage on shares of Agree Realty in a report on Thursday. They issued a “sell” rating on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Agree Realty from $76.75 to $77.50 in a research report on Wednesday, February 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.23.

Agree Realty Price Performance

Shares of NYSE:ADC opened at $65.93 on Monday. The company has a market cap of $6.14 billion, a PE ratio of 36.83, a P/E/G ratio of 3.19 and a beta of 0.46. Agree Realty Co. has a fifty-two week low of $63.34 and a fifty-two week high of $80.44. The firm has a 50-day simple moving average of $67.12 and a 200 day simple moving average of $70.01. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.44.

Agree Realty (NYSE:ADC – Get Rating) last posted its earnings results on Friday, May 5th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.52). The company had revenue of $126.62 million for the quarter, compared to the consensus estimate of $124.55 million. Agree Realty had a net margin of 34.48% and a return on equity of 4.04%. During the same period last year, the company posted $0.97 earnings per share. On average, sell-side analysts anticipate that Agree Realty Co. will post 3.94 EPS for the current year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Wednesday, May 31st will be given a $0.243 dividend. This represents a $2.92 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend is Tuesday, May 30th. Agree Realty’s dividend payout ratio is presently 163.13%.

Insider Buying and Selling at Agree Realty

In other news, CEO Joey Agree purchased 5,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $65.35 per share, for a total transaction of $326,750.00. Following the completion of the transaction, the chief executive officer now owns 524,253 shares of the company’s stock, valued at $34,259,933.55. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Agree Realty news, COO Craig Erlich bought 1,500 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were purchased at an average price of $65.50 per share, with a total value of $98,250.00. Following the purchase, the chief operating officer now directly owns 32,151 shares of the company’s stock, valued at $2,105,890.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joey Agree purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average cost of $65.35 per share, with a total value of $326,750.00. Following the purchase, the chief executive officer now owns 524,253 shares of the company’s stock, valued at approximately $34,259,933.55. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 29,495 shares of company stock worth $1,967,261. 1.60% of the stock is owned by insiders.

About Agree Realty

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Agree Realty Corp. is a real estate investment trust, which focuses on the ownership, development, acquisition, and management of retail properties net leased to national tenants. It specializes in acquiring and developing net leased retail properties for retail tenants. The company was founded by Richard Agree in 1971 and is headquartered in Bloomfield Hills, MI.