Shares of Agree Realty Corp. (NYSE:ADC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $50.33 and last traded at $49.81, with a volume of 78,985 shares. The stock had previously closed at $49.90.

ADC has been the subject of a number of research reports. Jefferies Group initiated coverage on Agree Realty Corp. in a research note on Thursday, April 21st. They set a “buy” rating and a $45.00 target price for the company. Stifel Nicolaus initiated coverage on Agree Realty Corp. in a research note on Thursday, July 7th. They set a “buy” rating and a $54.00 target price for the company. Finally, Wunderlich raised their price target on shares of Agree Realty Corp. from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $44.33.

The firm has a 50-day moving average of $46.91 and a 200 day moving average of $40.40. The firm has a market capitalization of $1.03 billion and a P/E ratio of 23.562.

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $1.92 annualized dividend and a dividend yield of 3.85%. This is a positive change from Agree Realty Corp.’s previous quarterly dividend of $0.47.

Other hedge funds and institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its position in 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. Monashee Investment Management LLC purchased a new position in Agree Realty Corp. during the fourth quarter valued at $1,190,000. GSA Capital Partners LLP increased its position in Agree Realty Corp. by 4.1% in the fourth quarter. GSA Capital Partners LLP now owns 35,600 shares of the real estate investment trust’s stock valued at $1,210,000 after buying an additional 1,400 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Agree Realty Corp. by 9.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 38,497 shares of the real estate investment trust’s stock valued at $1,309,000 after buying an additional 3,283 shares during the last quarter. Finally, First Trust Advisors LP increased its position in 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.

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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