Agree Realty Corporation (ADC) Position Held by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado held its stake in shares of Agree Realty Corporation (NYSE:ADC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,923 shares of the real estate investment trust’s stock at the end of the second quarter. Public Employees Retirement Association of Colorado owned 0.07% of Agree Realty Corporation worth $822,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ADC. Teachers Advisors LLC increased its stake in shares of Agree Realty Corporation by 639.7% in the fourth quarter. Teachers Advisors LLC now owns 273,456 shares of the real estate investment trust’s stock worth $12,593,000 after buying an additional 236,488 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Agree Realty Corporation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the real estate investment trust’s stock worth $513,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Agree Realty Corporation by 28.2% in the first quarter. State of Alaska Department of Revenue now owns 17,380 shares of the real estate investment trust’s stock worth $832,000 after buying an additional 3,820 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Agree Realty Corporation by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 58,007 shares of the real estate investment trust’s stock worth $2,782,000 after buying an additional 228 shares during the last quarter. Finally, Glen Harbor Capital Management LLC acquired a new stake in shares of Agree Realty Corporation during the first quarter worth $101,000. 81.78% of the stock is owned by institutional investors.

Shares of Agree Realty Corporation (NYSE ADC) opened at 48.80 on Friday. Agree Realty Corporation has a 1-year low of $41.01 and a 1-year high of $51.50. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 21.95 and a beta of 0.59. The firm’s 50-day moving average is $47.81 and its 200-day moving average is $47.70.

Agree Realty Corporation (NYSE:ADC) last issued its earnings results on Monday, July 24th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.17. Agree Realty Corporation had a return on equity of 8.23% and a net margin of 54.22%. The firm had revenue of $28.10 million for the quarter, compared to analysts’ expectations of $27.66 million. During the same quarter last year, the business earned $0.62 earnings per share. The company’s revenue was up 28.7% compared to the same quarter last year. On average, analysts predict that Agree Realty Corporation will post $1.87 earnings per share for the current fiscal year.

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ADC has been the subject of a number of research analyst reports. Jefferies Group LLC reissued a “hold” rating and issued a $50.00 price target on shares of Agree Realty Corporation in a report on Monday, April 24th. Stifel Nicolaus upped their price target on shares of Agree Realty Corporation from $53.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. FBR & Co reissued a “buy” rating on shares of Agree Realty Corporation in a report on Saturday, May 6th. Raymond James Financial, Inc. reissued a “buy” rating on shares of Agree Realty Corporation in a report on Saturday, May 20th. Finally, BidaskClub raised shares of Agree Realty Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $51.89.

Agree Realty Corporation Company Profile

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).

Institutional Ownership by Quarter for Agree Realty Corporation (NYSE:ADC)

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