Voya Investment Management LLC increased its position in Agree Realty Corporation (NYSE:ADC) by 13.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,781 shares of the real estate investment trust’s stock after acquiring an additional 1,377 shares during the period. Voya Investment Management LLC’s holdings in Agree Realty Corporation were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ADC. Riverhead Capital Management LLC raised its stake in Agree Realty Corporation by 114.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,363 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 1,263 shares during the last quarter. Bank of Montreal Can raised its stake in Agree Realty Corporation by 300.8% in the 2nd quarter. Bank of Montreal Can now owns 2,489 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 1,868 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Agree Realty Corporation by 30.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,600 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 600 shares during the last quarter. SG Americas Securities LLC purchased a new position in Agree Realty Corporation in the 2nd quarter worth $127,000. Finally, Pinebridge Investments L.P. raised its stake in Agree Realty Corporation by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,446 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 83.43% of the company’s stock.

Agree Realty Corporation (ADC) opened at $48.01 on Friday. The firm has a market capitalization of $1,402.66, a PE ratio of 18.12, a price-to-earnings-growth ratio of 3.54 and a beta of 0.55. Agree Realty Corporation has a 52 week low of $41.01 and a 52 week high of $51.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 1.63.

Agree Realty Corporation (NYSE:ADC) last released its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.27). The company had revenue of $30.39 million for the quarter, compared to analysts’ expectations of $29.48 million. Agree Realty Corporation had a net margin of 49.26% and a return on equity of 7.27%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. equities research analysts expect that Agree Realty Corporation will post 2.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were paid a dividend of $0.505 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 4.21%. Agree Realty Corporation’s payout ratio is currently 99.02%.

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A number of brokerages recently issued reports on ADC. FBR & Co restated a “buy” rating and issued a $58.00 target price (up previously from $56.00) on shares of Agree Realty Corporation in a research note on Monday, September 18th. Stifel Nicolaus restated a “buy” rating and issued a $54.00 target price on shares of Agree Realty Corporation in a research note on Tuesday, August 22nd. BidaskClub upgraded Agree Realty Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Agree Realty Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Agree Realty Corporation in a research note on Tuesday, October 24th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Agree Realty Corporation presently has a consensus rating of “Buy” and an average target price of $52.13.

Agree Realty Corporation 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). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).

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

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