Ceredex Value Advisors LLC Has $12.40 Million Position in Agree Realty Corporation $ADC

Ceredex Value Advisors LLC lessened its holdings in Agree Realty Corporation (NYSE:ADC) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,600 shares of the real estate investment trust’s stock after selling 16,950 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.15% of Agree Realty worth $12,404,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Clarkston Capital Partners LLC increased its position in Agree Realty by 42.4% in the 3rd quarter. Clarkston Capital Partners LLC now owns 4,700 shares of the real estate investment trust’s stock valued at $334,000 after acquiring an additional 1,400 shares during the period. Swiss National Bank lifted its holdings in shares of Agree Realty by 8.3% during the third quarter. Swiss National Bank now owns 221,982 shares of the real estate investment trust’s stock worth $15,770,000 after purchasing an additional 17,000 shares during the period. Schroder Investment Management Group grew its stake in shares of Agree Realty by 29.3% in the third quarter. Schroder Investment Management Group now owns 326,453 shares of the real estate investment trust’s stock worth $22,941,000 after purchasing an additional 73,894 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Agree Realty by 38.1% in the third quarter. Parallel Advisors LLC now owns 2,612 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 721 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in Agree Realty by 15.2% in the third quarter. Aptus Capital Advisors LLC now owns 91,191 shares of the real estate investment trust’s stock valued at $6,478,000 after purchasing an additional 12,037 shares during the period. 97.83% of the stock is owned by institutional investors.

Agree Realty Stock Down 0.7%

Shares of NYSE:ADC opened at $80.46 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 0.81. Agree Realty Corporation has a 52-week low of $68.98 and a 52-week high of $82.08. The business’s 50 day simple moving average is $75.23 and its two-hundred day simple moving average is $73.65. The firm has a market cap of $9.66 billion, a P/E ratio of 45.46, a PEG ratio of 3.15 and a beta of 0.52.

Agree Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.262 per share. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a yield of 3.9%. Agree Realty’s dividend payout ratio is presently 177.40%.

Analyst Ratings Changes

Several brokerages recently issued reports on ADC. Mizuho lowered their target price on Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. UBS Group increased their price target on Agree Realty from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings upgraded Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 3rd. Royal Bank Of Canada lifted their price objective on Agree Realty from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, January 27th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.32.

Insiders Place Their Bets

In other Agree Realty news, Director John Rakolta, Jr. acquired 15,000 shares of the company’s 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 completion of the purchase, the director owned 562,606 shares of the company’s stock, valued at approximately $40,608,901.08. This represents a 2.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter Coughenour acquired 500 shares of Agree Realty stock in a transaction dated Friday, January 9th. The shares were acquired at an average price of $69.80 per share, with a total value of $34,900.00. Following the completion of the acquisition, the chief financial officer directly 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 39,500 shares of company stock worth $2,813,680. Insiders own 1.80% of the company’s stock.

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.