Eii Capital Management Inc. cut its stake in shares of Agree Realty Co. (NYSE:ADC) by 26.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,024 shares of the real estate investment trust’s stock after selling 715 shares during the period. Eii Capital Management Inc.’s holdings in Agree Realty were worth $120,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of Agree Realty by 2.6% during the fourth quarter. SG Americas Securities LLC now owns 11,445 shares of the real estate investment trust’s stock valued at $677,000 after buying an additional 289 shares during the period. Shelton Capital Management bought a new stake in shares of Agree Realty during the fourth quarter valued at about $207,000. Rhumbline Advisers increased its position in shares of Agree Realty by 24.6% during the fourth quarter. Rhumbline Advisers now owns 127,541 shares of the real estate investment trust’s stock valued at $7,540,000 after buying an additional 25,221 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of Agree Realty by 29.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 7,463 shares of the real estate investment trust’s stock valued at $441,000 after buying an additional 1,720 shares during the period. Finally, Exane Derivatives increased its position in shares of Agree Realty by 171,950.0% during the fourth quarter. Exane Derivatives now owns 3,441 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 3,439 shares during the period.

In related news, COO Laith Hermiz sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $58.00, for a total value of $203,000.00. Following the transaction, the chief operating officer now directly owns 28,328 shares in the company, valued at $1,643,024. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

ADC stock opened at $66.41 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $2.25 billion, a P/E ratio of 24.42, a P/E/G ratio of 4.24 and a beta of 0.22. Agree Realty Co. has a 1-year low of $43.74 and a 1-year high of $66.71.

Several equities research analysts have recently weighed in on ADC shares. Raymond James upgraded Agree Realty from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, January 8th. Citigroup upped their price objective on shares of Agree Realty from $57.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 11th. ValuEngine upgraded shares of Agree Realty from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Jefferies Financial Group upgraded shares of Agree Realty from a “hold” rating to a “buy” rating and upped their price objective for the stock from $60.00 to $70.00 in a research report on Thursday, December 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $62.00.

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Agree Realty Company Profile

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 September 30, 2018, the Company owned and operated a portfolio of 520 properties, located in 45 states and containing approximately 10.0 million square feet of gross leasable space.

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

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