UBS Group AG Increases Stake in Agree Realty Co. (NYSE:ADC)

UBS Group AG lifted its stake in shares of Agree Realty Co. (NYSE:ADC – Get Rating) by 42.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,241 shares of the real estate investment trust’s stock after acquiring an additional 30,512 shares during the period. UBS Group AG owned 0.12% of Agree Realty worth $7,252,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Credit Suisse AG raised its holdings in Agree Realty by 3.6% in the third quarter. Credit Suisse AG now owns 126,269 shares of the real estate investment trust’s stock valued at $8,533,000 after buying an additional 4,333 shares during the period. Cincinnati Insurance Co. raised its holdings in Agree Realty by 43.2% in the third quarter. Cincinnati Insurance Co. now owns 222,000 shares of the real estate investment trust’s stock valued at $15,003,000 after buying an additional 67,000 shares during the period. BlackRock Inc. raised its holdings in Agree Realty by 6.9% in the third quarter. BlackRock Inc. now owns 15,348,857 shares of the real estate investment trust’s stock valued at $1,037,276,000 after buying an additional 992,766 shares during the period. Strs Ohio raised its holdings in Agree Realty by 138.0% in the fourth quarter. Strs Ohio now owns 269,593 shares of the real estate investment trust’s stock valued at $19,122,000 after buying an additional 156,342 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Agree Realty by 17.7% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 45,788 shares of the real estate investment trust’s stock valued at $3,232,000 after buying an additional 6,877 shares during the period.

Agree Realty Stock Down 0.0 %

ADC stock opened at $65.30 on Thursday. The company has a market capitalization of $6.09 billion, a P/E ratio of 36.48, a PEG ratio of 3.17 and a beta of 0.46. The firm has a 50 day simple moving average of $66.93 and a 200-day simple moving average of $69.94. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. Agree Realty Co. has a twelve month low of $63.34 and a twelve month high of $80.44.

Agree Realty (NYSE:ADC – Get Rating) last released its quarterly earnings data on Friday, May 5th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.52). The business had revenue of $126.62 million during the quarter, compared to analyst estimates of $124.55 million. Agree Realty had a return on equity of 4.04% and a net margin of 34.48%. During the same period in the prior year, the firm earned $0.97 EPS. On average, equities research analysts predict that Agree Realty Co. will post 3.94 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Wednesday, May 31st will be issued a $0.243 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Tuesday, May 30th. Agree Realty’s dividend payout ratio is presently 163.13%.

Analyst Ratings Changes

Several research firms recently commented on ADC. Mizuho cut their price target on shares of Agree Realty from $78.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, March 9th. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 21st. Stifel Nicolaus lifted their price objective on shares of Agree Realty from $76.75 to $77.50 in a research note on Wednesday, February 15th. Finally, StockNews.com started coverage on shares of Agree Realty in a research note on Thursday, May 18th. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.23.

Insiders Place Their Bets

In related news, Director John Rakolta, Jr. bought 10,495 shares of the business’s stock in a transaction on Monday, May 8th. The shares were bought at an average cost of $67.85 per share, for a total transaction of $712,085.75. Following the completion of the purchase, the director now owns 281,768 shares of the company’s stock, valued at approximately $19,117,958.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John Rakolta, Jr. bought 7,500 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were bought at an average cost of $66.45 per share, for a total transaction of $498,375.00. Following the completion of the purchase, the director now owns 300,056 shares of the company’s stock, valued at approximately $19,938,721.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Rakolta, Jr. bought 10,495 shares of the business’s stock in a transaction on Monday, May 8th. The stock was bought at an average price of $67.85 per share, for a total transaction of $712,085.75. Following the completion of the purchase, the director now directly owns 281,768 shares of the company’s stock, valued at approximately $19,117,958.80. The disclosure for this purchase can be found here. Insiders acquired a total of 29,495 shares of company stock valued at $1,967,261 over the last 90 days. 1.60% of the stock is owned by company insiders.

Agree Realty Company Profile

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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.