Uniplan Investment Counsel Inc. continued to hold its position in shares of Agree Realty Corporation (NYSE:ADC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,728 shares of the real estate investment trust’s stock at the end of the second quarter. Uniplan Investment Counsel Inc. owned about 1.37% of Agree Realty Corporation worth $18,126,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Agree Realty Corporation by 0.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,462 shares of the real estate investment trust’s stock valued at $1,122,000 after buying an additional 79 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Agree Realty Corporation by 2.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,935 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 80 shares in the last quarter. Rothschild Asset Management Inc. lifted its stake in Agree Realty Corporation by 0.3% in the second quarter. Rothschild Asset Management Inc. now owns 30,387 shares of the real estate investment trust’s stock valued at $1,394,000 after buying an additional 93 shares in the last quarter. Arizona State Retirement System lifted its stake in Agree Realty Corporation by 0.7% in the first quarter. Arizona State Retirement System now owns 13,588 shares of the real estate investment trust’s stock valued at $652,000 after buying an additional 100 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Agree Realty Corporation by 1.2% in the first quarter. Envestnet Asset Management Inc. now owns 12,222 shares of the real estate investment trust’s stock valued at $586,000 after buying an additional 150 shares in the last quarter. 86.89% of the stock is currently owned by institutional investors and hedge funds.

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A number of brokerages have weighed in on ADC. BidaskClub raised shares of Agree Realty Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Agree Realty Corporation in a research note on Saturday, May 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $54.00 price target on shares of Agree Realty Corporation in a research note on Tuesday, August 22nd. Zacks Investment Research raised shares of Agree Realty Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $50.00 price target on shares of Agree Realty Corporation in a research note on Friday, May 26th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $51.89.

Agree Realty Corporation (ADC) traded up 0.22% during mid-day trading on Monday, hitting $50.61. 61,648 shares of the stock were exchanged. The company has a market capitalization of $1.44 billion, a PE ratio of 22.77 and a beta of 0.58. Agree Realty Corporation has a 1-year low of $41.01 and a 1-year high of $51.50. The stock has a 50 day moving average price of $49.28 and a 200 day moving average price of $47.93.

Agree Realty Corporation (NYSE:ADC) last posted its quarterly earnings results on Monday, July 24th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.17. The firm had revenue of $28.10 million for 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 company’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. On average, equities analysts anticipate that Agree Realty Corporation will post $1.97 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Thursday, September 28th. Agree Realty Corporation’s payout ratio is 90.58%.

About Agree Realty Corporation

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).

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

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