First National Bank of Omaha Buys Shares of 23,011 Agree Realty Corporation $ADC

First National Bank of Omaha purchased a new position in Agree Realty Corporation (NYSE:ADC) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 23,011 shares of the real estate investment trust’s stock, valued at approximately $1,635,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Westside Investment Management Inc. raised its stake in Agree Realty by 100.0% during the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 215 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of Agree Realty by 1,513.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 454 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Agree Realty by 158.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 356 shares in the last quarter. Versant Capital Management Inc increased its stake 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 in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Agree Realty by 114.7% in the third quarter. Farther Finance Advisors LLC now owns 818 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Insider Transactions at Agree Realty

In other Agree Realty news, Chairman Richard Agree purchased 24,000 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were acquired at an average cost of $70.67 per share, for a total transaction of $1,696,080.00. Following the completion of the transaction, the chairman owned 159,855 shares of the company’s stock, valued at approximately $11,296,952.85. The trade was a 17.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Peter Coughenour acquired 500 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were acquired at an average cost of $69.80 per share, with a total value of $34,900.00. Following the transaction, the chief financial officer owned 18,544 shares in the company, valued at approximately $1,294,371.20. This trade represents a 2.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 39,500 shares of company stock worth $2,813,680 in the last quarter. Company insiders own 1.80% of the company’s stock.

Agree Realty Price Performance

NYSE ADC opened at $76.69 on Thursday. 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 1-year low of $68.98 and a 1-year high of $79.65. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 43.33, a PEG ratio of 2.81 and a beta of 0.54. The business’s fifty day moving average price is $72.98 and its 200-day moving average price is $72.97.

Agree Realty Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADC. Barclays increased their price target on shares of Agree Realty from $77.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, December 3rd. Stifel Nicolaus increased their target price on Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Wells Fargo & Company lifted their target price on Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a report on Tuesday, January 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.