Agree Realty Corporation (ADC) Shares Bought by Creative Planning

Creative Planning raised its stake in shares of Agree Realty Corporation (NYSE:ADC) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,965 shares of the real estate investment trust’s stock after buying an additional 375 shares during the period. Creative Planning’s holdings in Agree Realty Corporation were worth $365,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ADC. Bank of Montreal Can increased its stake in shares of Agree Realty Corporation by 300.8% in the second quarter. Bank of Montreal Can now owns 2,489 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 1,868 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Agree Realty Corporation by 1.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 16,350 shares of the real estate investment trust’s stock valued at $784,000 after buying an additional 170 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Agree Realty Corporation by 13.0% in the first quarter. Goldman Sachs Group Inc. now owns 67,745 shares of the real estate investment trust’s stock valued at $3,249,000 after buying an additional 7,814 shares in the last quarter. Driehaus Capital Management LLC raised its position in Agree Realty Corporation by 67.1% in the first quarter. Driehaus Capital Management LLC now owns 100,641 shares of the real estate investment trust’s stock valued at $4,827,000 after buying an additional 40,417 shares in the last quarter. Finally, State Street Corp raised its position in Agree Realty Corporation by 9.8% in the first quarter. State Street Corp now owns 716,468 shares of the real estate investment trust’s stock valued at $34,363,000 after buying an additional 63,748 shares in the last quarter. Institutional investors and hedge funds own 81.78% of the company’s stock.

Shares of Agree Realty Corporation (NYSE ADC) opened at 48.83 on Friday. The stock’s 50 day moving average is $47.89 and its 200 day moving average is $47.72. The firm has a market cap of $1.39 billion, a PE ratio of 21.97 and a beta of 0.59. Agree Realty Corporation has a 12 month low of $41.01 and a 12 month high of $51.50.

Agree Realty Corporation (NYSE:ADC) last issued its quarterly 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 during the quarter, compared to analyst estimates of $27.66 million. During the same period last year, the company earned $0.62 EPS. Agree Realty Corporation’s quarterly revenue was up 28.7% compared to the same quarter last year. Analysts forecast that Agree Realty Corporation will post $1.87 EPS for the current fiscal year.

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Several research analysts have recently commented on ADC shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $50.00 price objective on shares of Agree Realty Corporation in a report on Monday, April 24th. Stifel Nicolaus increased 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. reaffirmed 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 assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $51.89.

About Agree Realty Corporation

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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