Price T Rowe Associates Inc. MD Has $1.28 Million Position in Agree Realty Co. (NYSE:ADC)

Price T Rowe Associates Inc. MD boosted its position in shares of Agree Realty Co. (NYSE:ADC) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,996 shares of the real estate investment trust’s stock after purchasing an additional 158 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Agree Realty were worth $1,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADC. Pearl River Capital LLC bought a new stake in shares of Agree Realty in the second quarter worth $80,000. Point72 Hong Kong Ltd raised its position in Agree Realty by 127.6% during the second quarter. Point72 Hong Kong Ltd now owns 2,076 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 1,164 shares in the last quarter. USA Financial Portformulas Corp raised its position in Agree Realty by 8.2% during the second quarter. USA Financial Portformulas Corp now owns 2,905 shares of the real estate investment trust’s stock worth $201,000 after acquiring an additional 221 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Agree Realty by 87.7% during the second quarter. Nisa Investment Advisors LLC now owns 3,567 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 1,667 shares in the last quarter. Finally, M&T Bank Corp raised its position in Agree Realty by 11.7% during the second quarter. M&T Bank Corp now owns 3,649 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 382 shares in the last quarter.

ADC stock opened at $74.92 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.42 and a current ratio of 0.42. The company’s 50-day simple moving average is $73.58 and its 200 day simple moving average is $68.75. Agree Realty Co. has a 52 week low of $51.16 and a 52 week high of $76.23. The company has a market capitalization of $3.14 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 4.16 and a beta of 0.01.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.29). Agree Realty had a net margin of 39.76% and a return on equity of 5.19%. The business had revenue of $44.92 million during the quarter, compared to analyst estimates of $44.05 million. On average, analysts forecast that Agree Realty Co. will post 3.03 EPS for the current year.

The firm also recently declared a — dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a dividend yield of 3.1%. Agree Realty’s dividend payout ratio (DPR) is presently 80.00%.

ADC has been the topic of several analyst reports. ValuEngine lowered shares of Agree Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Agree Realty from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Tuesday, September 24th. Berenberg Bank initiated coverage on shares of Agree Realty in a research report on Tuesday, October 1st. They set a “buy” rating and a $82.00 price target on the stock. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $82.00 price target on shares of Agree Realty in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $75.83.

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 March 31, 2019, the Company owned and operated a portfolio of 694 properties, located in 46 states and containing approximately 11.9 million square feet of gross leasable space.

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

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