Universal Beteiligungs und Servicegesellschaft mbH Sells 76,135 Shares of Agree Realty Corporation $ADC

Universal Beteiligungs und Servicegesellschaft mbH decreased its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 462,897 shares of the real estate investment trust’s stock after selling 76,135 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Agree Realty were worth $32,884,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. QRG Capital Management Inc. grew its holdings in Agree Realty by 5.4% during the 3rd quarter. QRG Capital Management Inc. now owns 3,395 shares of the real estate investment trust’s stock worth $241,000 after acquiring an additional 174 shares during the period. Corient Private Wealth LLC boosted its position in shares of Agree Realty by 3.4% in the 2nd quarter. Corient Private Wealth LLC now owns 6,217 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 204 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in Agree Realty by 0.9% in the second quarter. Orion Porfolio Solutions LLC now owns 26,280 shares of the real estate investment trust’s stock valued at $1,920,000 after purchasing an additional 222 shares during the last quarter. Securian Asset Management Inc. increased its holdings in Agree Realty by 2.9% in the second quarter. Securian Asset Management Inc. now owns 8,362 shares of the real estate investment trust’s stock valued at $611,000 after purchasing an additional 233 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Agree Realty by 47.6% in the third quarter. Versant Capital Management Inc now owns 775 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 250 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Price Performance

NYSE ADC opened at $72.19 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of 42.22, a PEG ratio of 2.28 and a beta of 0.55. The business has a 50 day simple moving average of $72.75 and a 200 day simple moving average of $72.67. Agree Realty Corporation has a 52-week low of $68.98 and a 52-week high of $79.65.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.02. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The company had revenue of $183.22 million during the quarter, compared to analysts’ expectations of $181.87 million. During the same quarter in the prior year, the company earned $1.03 earnings per share. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. Analysts anticipate that Agree Realty Corporation will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a $0.262 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 4.4%. Agree Realty’s dividend payout ratio is presently 183.63%.

Insider Transactions at Agree Realty

In other news, CFO Peter Coughenour bought 500 shares of the business’s stock in a transaction on Friday, January 9th. The shares were purchased at an average price of $69.80 per share, for a total transaction of $34,900.00. Following the purchase, the chief financial officer owned 18,544 shares of the company’s stock, valued at approximately $1,294,371.20. The trade was a 2.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Rakolta, Jr. purchased 15,000 shares of Agree Realty stock in a transaction on Wednesday, December 24th. The shares were purchased at an average cost of $72.18 per share, with a total value of $1,082,700.00. Following the transaction, the director owned 562,606 shares in the company, valued at approximately $40,608,901.08. The trade was a 2.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 39,500 shares of company stock valued at $2,813,680 over the last three months. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADC shares. Evercore ISI decreased their target price on Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Wells Fargo & Company boosted their price objective on shares of Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a report on Wednesday, October 8th. Royal Bank Of Canada reduced their price target on shares of Agree Realty from $80.00 to $79.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 6th. Finally, Mizuho lowered their price objective on shares of Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $80.23.

Agree Realty Profile

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.