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

A number of research analysts have weighed in on the company. Jefferies Group restated a “buy” rating and issued a $47.00 price objective on shares of Agree Realty Corp. in a report on Wednesday, July 6th. Stifel Nicolaus assumed coverage on Agree Realty Corp. in a report on Thursday, July 7th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Wunderlich raised their price objective on Agree Realty Corp. from $44.00 to $45.00 and gave the company a “buy” rating in a report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Agree Realty Corp. has a consensus rating of “Buy” and a consensus target price of $42.83.

The stock has a 50 day moving average price of $45.37 and a 200 day moving average price of $39.64. The company has a market capitalization of $1.02 billion and a price-to-earnings ratio of 23.35.

Agree Realty Corp. (NYSE:ADC) last released its earnings results on Monday, April 25th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. During the same period in the previous year, the firm posted $0.57 EPS. The company earned $20.20 million during the quarter, compared to analyst estimates of $20.15 million. The company’s revenue for the quarter was up 28.5% on a year-over-year basis. On average, analysts anticipate 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 issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.88%. This is an increase from Agree Realty Corp.’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, June 28th.

A number of hedge funds and institutional investors have made changes to their positions in ADC. Rhumbline Advisers raised its position 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 worth $1,111,000 after buying an additional 1,929 shares in the last quarter. First Trust Advisors LP raised its position 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 worth $1,574,000 after buying an additional 18,319 shares in the last quarter. Strs Ohio raised its position 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 worth $1,200,000 after buying an additional 1,973 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $7,942,000 after buying an additional 9,350 shares in the last quarter. Finally, Russell Frank Co raised its position 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 worth $2,704,000 after buying an additional 13,985 shares in 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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