Edge Asset Management Inc. raised its position in Agree Realty Corporation (NYSE:ADC) by 2.6% during the fourth quarter, Holdings Channel reports. The fund owned 417,709 shares of the real estate investment trust’s stock after buying an additional 10,530 shares during the period. Edge Asset Management Inc. owned about 1.77% of Agree Realty Corporation worth $19,235,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of Agree Realty Corporation by 0.8% in the second quarter. Royal Bank of Canada now owns 38,078 shares of the real estate investment trust’s stock worth $1,835,000 after buying an additional 313 shares during the last quarter. Cohen & Steers Inc. acquired a new stake in shares of Agree Realty Corporation during the second quarter worth approximately $3,395,000. Legal & General Group Plc raised its stake in shares of Agree Realty Corporation by 35.2% in the second quarter. Legal & General Group Plc now owns 52,187 shares of the real estate investment trust’s stock worth $2,515,000 after buying an additional 13,578 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Agree Realty Corporation by 7.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 17,967 shares of the real estate investment trust’s stock worth $867,000 after buying an additional 1,272 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Agree Realty Corporation by 23.6% in the second quarter. Vanguard Group Inc. now owns 2,873,952 shares of the real estate investment trust’s stock worth $138,640,000 after buying an additional 548,550 shares during the last quarter. 75.48% of the stock is owned by institutional investors.

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

Shares of Agree Realty Corporation (NYSE:ADC) traded up 0.48% during trading on Thursday, reaching $48.10. The company’s stock had a trading volume of 284,681 shares. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 25.61 and a beta of 0.60. The company has a 50-day moving average price of $46.50 and a 200-day moving average price of $46.73. Agree Realty Corporation has a one year low of $35.94 and a one year high of $51.33.

“Agree Realty Corporation (ADC) Shares Bought by Edge Asset Management Inc.” was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be viewed at http://www.watchlistnews.com/agree-realty-corporation-adc-shares-bought-by-edge-asset-management-inc/1120752.html.

A number of analysts recently commented on the company. Jefferies Group LLC set a $53.00 price target on Agree Realty Corporation and gave the stock a “buy” rating in a research note on Monday, October 24th. Stifel Nicolaus lowered their price objective on Agree Realty Corporation from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, January 6th. Zacks Investment Research raised Agree Realty Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, January 5th. Wells Fargo & Company began coverage on Agree Realty Corporation in a research report on Thursday, January 26th. They set a “market perform” rating for the company. Finally, Citigroup Inc. began coverage on Agree Realty Corporation in a research report on Thursday, December 22nd. They set a “neutral” rating and a $46.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $51.57.

Agree Realty Corporation Company Profile

Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership), of which it is the sole general partner and in which Agree Realty holds an approximately 98.3% interest.

5 Day Chart for NYSE:ADC

Want to see what other hedge funds are holding ADC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agree Realty Corporation (NYSE:ADC).

Receive News & Ratings for Agree Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.