Strs Ohio lowered its position in Agree Realty Corporation (NYSE:ADC) by 12.2% during the second quarter, Holdings Channel reports. The fund owned 39,964 shares of the real estate investment trust’s stock after selling 5,550 shares during the period. Strs Ohio’s holdings in Agree Realty Corporation were worth $1,833,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Agree Realty Corporation by 4,812.0% in the first quarter. BlackRock Inc. now owns 3,713,482 shares of the real estate investment trust’s stock worth $178,099,000 after buying an additional 3,637,882 shares during the last quarter. Teachers Advisors LLC raised its stake in Agree Realty Corporation by 639.7% in the fourth quarter. Teachers Advisors LLC now owns 273,456 shares of the real estate investment trust’s stock worth $12,593,000 after buying an additional 236,488 shares during the last quarter. American Century Companies Inc. raised its stake in Agree Realty Corporation by 2,179.0% in the first quarter. American Century Companies Inc. now owns 202,423 shares of the real estate investment trust’s stock worth $9,708,000 after buying an additional 193,541 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Agree Realty Corporation by 63.6% in the first quarter. Russell Investments Group Ltd. now owns 355,826 shares of the real estate investment trust’s stock worth $17,063,000 after buying an additional 138,362 shares during the last quarter. Finally, State Street Corp raised its stake in Agree Realty Corporation by 9.8% in the first quarter. State Street Corp now owns 716,468 shares of the real estate investment trust’s stock worth $34,363,000 after buying an additional 63,748 shares during the last quarter. 81.07% of the stock is owned by institutional investors and hedge funds.

Shares of Agree Realty Corporation (ADC) opened at 49.16 on Friday. The company has a 50 day moving average of $47.57 and a 200-day moving average of $47.62. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 22.11 and a beta of 0.59. Agree Realty Corporation has a one year low of $41.01 and a one year high of $51.50.

Agree Realty Corporation (NYSE:ADC) last posted its quarterly earnings data on Monday, July 24th. The real estate investment trust reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.17. The firm had revenue of $28.10 million during the quarter, compared to analysts’ expectations of $27.66 million. Agree Realty Corporation had a return on equity of 8.23% and a net margin of 54.22%. The firm’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. On average, analysts anticipate that Agree Realty Corporation will post $1.87 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Wednesday, June 28th. This is a boost from Agree Realty Corporation’s previous quarterly dividend of $0.50. Agree Realty Corporation’s dividend payout ratio (DPR) is currently 90.58%.

ILLEGAL ACTIVITY WARNING: This news story was first published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another website, it was stolen and reposted in violation of United States & international trademark & copyright law. The original version of this news story can be accessed at https://www.dailypolitical.com/2017/08/11/strs-ohio-cuts-stake-in-agree-realty-corporation-adc.html.

ADC has been the subject of a number of research reports. Zacks Investment Research lowered shares of Agree Realty Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 target price on shares of Agree Realty Corporation in a report on Monday, April 17th. Canaccord Genuity initiated coverage on shares of Agree Realty Corporation in a report on Tuesday, July 18th. They set a “buy” rating and a $53.00 target price for the company. BidaskClub lowered shares of Agree Realty Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, FBR & Co set a $56.00 target price on shares of Agree Realty Corporation and gave the stock a “buy” rating in a report on Wednesday, June 14th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Agree Realty Corporation presently has a consensus rating of “Buy” and a consensus target price of $51.89.

In related news, Director William S. Rubenfaer acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average price of $44.92 per share, for a total transaction of $112,300.00. Following the transaction, the director now owns 20,101 shares in the company, valued at approximately $902,936.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.

Agree Realty Corporation Company Profile

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). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).

Want to see what other hedge funds are holding ADC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agree Realty Corporation (NYSE:ADC).

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

Receive News & Ratings for Agree Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty Corporation and related companies with MarketBeat.com's FREE daily email newsletter.