Highbridge Capital Management LLC acquired a new stake in shares of Agree Realty Co. (NYSE:ADC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 64,000 shares of the real estate investment trust’s stock, valued at approximately $3,075,000. Highbridge Capital Management LLC owned approximately 0.22% of Agree Realty as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Delpha Capital Management LLC bought a new stake in shares of Agree Realty in the 4th quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Agree Realty by 54.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,083 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 1,082 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Agree Realty by 73.5% in the 1st quarter. SG Americas Securities LLC now owns 3,959 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,677 shares during the last quarter. Amalgamated Bank bought a new stake in Agree Realty during the 4th quarter valued at $211,000. Finally, Xact Kapitalforvaltning AB bought a new stake in Agree Realty during the 4th quarter valued at $213,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.
NYSE ADC traded down $0.04 on Friday, reaching $52.77. The stock had a trading volume of 262,854 shares, compared to its average volume of 233,018. Agree Realty Co. has a 1 year low of $43.74 and a 1 year high of $54.16. The company has a market capitalization of $1.56 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 3.69 and a beta of 0.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.70 and a quick ratio of 0.70.
Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Monday, April 23rd. The real estate investment trust reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). Agree Realty had a return on equity of 6.97% and a net margin of 48.16%. The company had revenue of $34.57 million during the quarter, compared to analyst estimates of $33.45 million. equities analysts anticipate that Agree Realty Co. will post 2.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, June 28th. This is a boost from Agree Realty’s previous quarterly dividend of $0.52. Agree Realty’s payout ratio is currently 76.47%.
A number of analysts have recently commented on ADC shares. Zacks Investment Research downgraded Agree Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Jefferies Financial Group reissued a “neutral” rating on shares of Agree Realty in a research note on Thursday, March 1st. Finally, ValuEngine upgraded Agree Realty from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Agree Realty currently has a consensus rating of “Buy” and an average target price of $55.13.
Agree Realty Company Profile
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of December 31, 2017, the Company owned and operated a portfolio of 436 properties, located in 43 states and containing approximately 8.7 million square feet of gross leasable space.
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