Russell Investments Group Ltd. boosted its holdings in shares of Agree Realty Co. (NYSE:ADC) by 13.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,129 shares of the real estate investment trust’s stock after buying an additional 62,630 shares during the period. Russell Investments Group Ltd. owned approximately 1.77% of Agree Realty worth $27,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in ADC. Principal Financial Group Inc. increased its holdings in shares of Agree Realty by 46.5% in the first quarter. Principal Financial Group Inc. now owns 1,351,388 shares of the real estate investment trust’s stock valued at $64,922,000 after purchasing an additional 429,009 shares during the period. Millennium Management LLC acquired a new position in shares of Agree Realty in the first quarter valued at about $12,246,000. Uniplan Investment Counsel Inc. increased its holdings in shares of Agree Realty by 54.9% in the first quarter. Uniplan Investment Counsel Inc. now owns 642,200 shares of the real estate investment trust’s stock valued at $30,825,000 after purchasing an additional 227,737 shares during the period. BlackRock Inc. increased its holdings in shares of Agree Realty by 4.7% in the first quarter. BlackRock Inc. now owns 4,484,842 shares of the real estate investment trust’s stock valued at $215,452,000 after purchasing an additional 203,032 shares during the period. Finally, Citadel Advisors LLC increased its holdings in shares of Agree Realty by 60.4% in the first quarter. Citadel Advisors LLC now owns 486,771 shares of the real estate investment trust’s stock valued at $23,384,000 after purchasing an additional 183,268 shares during the period. 96.31% of the stock is currently owned by institutional investors.

Shares of ADC stock opened at $56.62 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.64 billion, a PE ratio of 20.82, a PEG ratio of 3.88 and a beta of 0.33. Agree Realty Co. has a fifty-two week low of $43.74 and a fifty-two week high of $57.04.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Monday, July 23rd. The real estate investment trust reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. Agree Realty had a return on equity of 6.53% and a net margin of 43.90%. The business had revenue of $35.71 million for the quarter, compared to analyst estimates of $35.50 million. research analysts anticipate that Agree Realty Co. will post 2.9 EPS for the current year.

ADC has been the topic of a number of research reports. Stifel Nicolaus increased their price objective on Agree Realty from $55.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. ValuEngine lowered Agree Realty from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, SunTrust Banks set a $57.00 price objective on Agree Realty and gave the company a “buy” rating in a report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Agree Realty has a consensus rating of “Buy” and an average target price of $55.75.

About Agree Realty

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 June 30, 2018, the Company owned and operated a portfolio of 481 properties, located in 44 states and containing approximately 9.3 million square feet of gross leasable space.

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

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