Uniplan Investment Counsel Inc. grew its position in Agree Realty Corporation (NYSE:ADC) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 403,356 shares of the real estate investment trust’s stock after acquiring an additional 8,196 shares during the quarter. Uniplan Investment Counsel Inc. owned 1.38% of Agree Realty worth $19,796,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Asset Management One Co. Ltd. raised its holdings in shares of Agree Realty by 12.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 95,727 shares of the real estate investment trust’s stock worth $4,723,000 after buying an additional 10,379 shares in the last quarter. AMP Capital Investors Ltd increased its holdings in Agree Realty by 12.6% during the 3rd quarter. AMP Capital Investors Ltd now owns 18,974 shares of the real estate investment trust’s stock valued at $931,000 after purchasing an additional 2,124 shares in the last quarter. Stifel Financial Corp increased its holdings in Agree Realty by 12.8% during the 3rd quarter. Stifel Financial Corp now owns 11,912 shares of the real estate investment trust’s stock valued at $586,000 after purchasing an additional 1,348 shares in the last quarter. OxFORD Asset Management LLP acquired a new stake in Agree Realty during the 3rd quarter valued at $420,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Agree Realty by 7.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 410,991 shares of the real estate investment trust’s stock valued at $20,172,000 after buying an additional 28,541 shares during the period. Institutional investors own 87.06% of the company’s stock.
In related news, Director John Rakolta, Jr. purchased 3,300 shares of Agree Realty stock in a transaction dated Thursday, November 30th. The shares were acquired at an average cost of $49.67 per share, for a total transaction of $163,911.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by company insiders.
Agree Realty Corporation (NYSE:ADC) opened at $48.79 on Wednesday. Agree Realty Corporation has a 12-month low of $43.12 and a 12-month high of $51.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $1,438.00, a price-to-earnings ratio of 18.57, a PEG ratio of 3.63 and a beta of 0.56.
Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.27). Agree Realty had a return on equity of 7.27% and a net margin of 49.26%. The company had revenue of $30.39 million during the quarter, compared to the consensus estimate of $29.48 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. research analysts anticipate that Agree Realty Corporation will post 2.71 earnings per share for the current fiscal year.
Several research firms have recently commented on ADC. ValuEngine cut Agree Realty from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. B. Riley set a $58.00 target price on Agree Realty and gave the company a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research cut Agree Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. FBR & Co reissued a “buy” rating and issued a $58.00 target price on shares of Agree Realty in a research note on Tuesday, October 24th. Finally, Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Agree Realty in a research note on Tuesday, October 24th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $52.78.
About Agree Realty
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).
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