Aperio Group LLC lifted its position in shares of Agree Realty Corporation (NYSE:ADC) by 18.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,578 shares of the real estate investment trust’s stock after buying an additional 3,031 shares during the quarter. Aperio Group LLC owned about 0.07% of Agree Realty Corporation worth $961,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Pinebridge Investments L.P. grew its holdings in Agree Realty Corporation by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 3,446 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 34 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Agree Realty Corporation by 0.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,462 shares of the real estate investment trust’s stock worth $1,122,000 after purchasing an additional 79 shares during the period. Rothschild Asset Management Inc. grew its holdings in Agree Realty Corporation by 0.3% in the second quarter. Rothschild Asset Management Inc. now owns 30,387 shares of the real estate investment trust’s stock worth $1,394,000 after purchasing an additional 93 shares during the period. Neuberger Berman Group LLC grew its holdings in Agree Realty Corporation by 4.5% in the second quarter. Neuberger Berman Group LLC now owns 5,776 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 247 shares during the period. Finally, Creative Planning grew its holdings in Agree Realty Corporation by 4.9% in the second quarter. Creative Planning now owns 7,965 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds own 85.75% of the company’s stock.

Agree Realty Corporation (NYSE:ADC) opened at $49.59 on Monday. The stock has a market cap of $1,448.81, a PE ratio of 18.71, a PEG ratio of 3.66 and a beta of 0.55. Agree Realty Corporation has a twelve month low of $42.94 and a twelve month high of $51.50. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59.

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

A number of equities research analysts have commented on ADC shares. B. Riley set a $58.00 price target on shares of Agree Realty Corporation and gave the stock a “buy” rating in a report on Tuesday, November 14th. FBR & Co restated a “buy” rating and issued a $58.00 price target (up from $56.00) on shares of Agree Realty Corporation in a report on Monday, September 18th. Zacks Investment Research cut shares of Agree Realty Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. ValuEngine upgraded shares of Agree Realty Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, BidaskClub upgraded shares of Agree Realty Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $52.78.

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About Agree Realty Corporation

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).

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

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