Quantbot Technologies LP Sells 58,364 Shares of Agree Realty Corporation $ADC

Quantbot Technologies LP decreased its position in shares of Agree Realty Corporation (NYSE:ADC) by 28.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,367 shares of the real estate investment trust’s stock after selling 58,364 shares during the quarter. Quantbot Technologies LP owned approximately 0.13% of Agree Realty worth $10,398,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ADC. Westside Investment Management Inc. increased its position in Agree Realty by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 215 shares during the period. Cornerstone Planning Group LLC lifted its stake in shares of Agree Realty by 1,513.3% in the third quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 454 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 356 shares during the last quarter. Versant Capital Management Inc increased its position in Agree Realty by 47.6% during the 3rd quarter. Versant Capital Management Inc now owns 775 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 250 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Agree Realty by 114.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 818 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 437 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, January 21st. Evercore lowered their price objective on Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Stifel Nicolaus boosted their target price on shares of Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Wells Fargo & Company boosted their target price on Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Finally, Barclays increased their price target on Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 3rd. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and an average price target of $80.50.

Agree Realty Stock Up 1.0%

Shares of NYSE:ADC opened at $80.57 on Friday. The firm has a fifty day moving average price of $73.99 and a two-hundred day moving average price of $73.23. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 45.52, a PEG ratio of 3.10 and a beta of 0.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.81 and a quick ratio of 0.81. Agree Realty Corporation has a one year low of $68.98 and a one year high of $81.17.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.262 per share. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, February 27th. Agree Realty’s dividend payout ratio (DPR) is presently 177.40%.

Insiders Place Their Bets

In other news, CFO Peter Coughenour bought 500 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were bought at an average cost of $69.80 per share, with a total value of $34,900.00. Following the completion of the purchase, the chief financial officer directly owned 18,544 shares in the company, valued at $1,294,371.20. This represents a 2.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director John Rakolta, Jr. purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were purchased at an average price of $72.18 per share, with a total value of $1,082,700.00. Following the completion of the acquisition, the director directly owned 562,606 shares in the company, valued at $40,608,901.08. The trade was a 2.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 39,500 shares of company stock valued at $2,813,680 in the last ninety days. Company insiders own 1.80% of the company’s stock.

About Agree Realty

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.