Agree Realty Corporation $ADC Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP decreased its holdings in Agree Realty Corporation (NYSE:ADC) by 45.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 18,419 shares of the real estate investment trust’s stock after selling 15,225 shares during the quarter. GSA Capital Partners LLP’s holdings in Agree Realty were worth $1,308,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC lifted its holdings in Agree Realty by 268.9% during the 1st quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock worth $2,112,000 after buying an additional 19,948 shares in the last quarter. CWM LLC increased its position in shares of Agree Realty by 42.2% during the second quarter. CWM LLC now owns 4,912 shares of the real estate investment trust’s stock worth $359,000 after acquiring an additional 1,457 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Agree Realty by 17.1% in the second quarter. Allianz Asset Management GmbH now owns 106,947 shares of the real estate investment trust’s stock valued at $7,814,000 after acquiring an additional 15,618 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Agree Realty by 6.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 63,542 shares of the real estate investment trust’s stock valued at $4,638,000 after purchasing an additional 3,959 shares during the period. Finally, Securian Asset Management Inc. grew its stake in Agree Realty by 2.9% during the 2nd quarter. Securian Asset Management Inc. now owns 8,362 shares of the real estate investment trust’s stock worth $611,000 after purchasing an additional 233 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

Insider Activity at Agree Realty

In related news, CFO Peter Coughenour purchased 500 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were purchased at an average price of $69.80 per share, with a total value of $34,900.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Rakolta, Jr. purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The stock was bought at an average price of $72.18 per share, for a total transaction of $1,082,700.00. Following the transaction, the director directly owned 562,606 shares in the company, valued at $40,608,901.08. This trade represents a 2.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 39,500 shares of company stock worth $2,813,680 in the last 90 days. 1.80% of the stock is owned by insiders.

Agree Realty Stock Down 3.1%

Shares of NYSE ADC opened at $76.69 on Thursday. The business has a 50-day moving average price of $72.98 and a 200 day moving average price of $72.97. The stock has a market cap of $9.20 billion, a PE ratio of 43.33, a price-to-earnings-growth ratio of 2.81 and a beta of 0.54. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.54. Agree Realty Corporation has a 52-week low of $68.98 and a 52-week high of $79.65.

Agree Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.262 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, February 27th. Agree Realty’s payout ratio is presently 177.40%.

Analyst Ratings Changes

A number of research firms have issued reports on ADC. Stifel Nicolaus increased their price target on Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada lifted their price target on shares of Agree Realty from $79.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Evercore dropped their price objective on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating on the stock in a research report on Monday, December 15th. Wells Fargo & Company raised their price objective on shares of Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, January 21st. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and an average price target of $80.50.

Agree Realty Profile

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.