Agree Realty Corp. (NYSE:ADC)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $49.84 and last traded at $49.72, with a volume of 53,047 shares changing hands. The stock had previously closed at $49.24.

A number of brokerages recently commented on ADC. Jefferies Group restated a “buy” rating and set a $47.00 target price on shares of Agree Realty Corp. in a report on Wednesday, July 6th. Stifel Nicolaus initiated coverage on Agree Realty Corp. in a research note on Thursday. They issued a “buy” rating and a $54.00 price objective for the company. Finally, Wunderlich lifted their price objective on Agree Realty Corp. from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, May 6th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.83.

The firm has a 50 day moving average of $44.89 and a 200 day moving average of $39.36. The firm has a market cap of $1.02 billion and a price-to-earnings ratio of 23.52.

Agree Realty Corp. (NYSE:ADC) last issued its earnings results on Monday, April 25th. The real estate investment trust reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. During the same period in the previous year, the company earned $0.57 EPS. The company earned $20.20 million during the quarter, compared to analysts’ expectations of $20.15 million. Agree Realty Corp.’s quarterly revenue was up 28.5% on a year-over-year basis. On average, equities research analysts forecast that Agree Realty Corp. will post $2.54 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.48 dividend. This is a positive change from Agree Realty Corp.’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Tuesday, June 28th.

Other large investors recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Agree Realty Corp. by 6.3% in the fourth quarter. Rhumbline Advisers now owns 32,696 shares of the real estate investment trust’s stock valued at $1,111,000 after buying an additional 1,929 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Agree Realty Corp. by 65.4% in the fourth quarter. First Trust Advisors LP now owns 46,314 shares of the real estate investment trust’s stock valued at $1,574,000 after buying an additional 18,319 shares during the last quarter. Strs Ohio increased its stake in shares of Agree Realty Corp. by 5.9% in the fourth quarter. Strs Ohio now owns 35,309 shares of the real estate investment trust’s stock valued at $1,200,000 after buying an additional 1,973 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Agree Realty Corp. by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 233,645 shares of the real estate investment trust’s stock valued at $7,942,000 after buying an additional 9,350 shares during the last quarter. Finally, Russell Frank Co increased its stake in shares of Agree Realty Corp. by 21.6% in the fourth quarter. Russell Frank Co now owns 78,874 shares of the real estate investment trust’s stock valued at $2,704,000 after buying an additional 13,985 shares during the last quarter.

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), of which it is the sole general partner and in which Agree Realty holds an approximately 98.3% interest.

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