Schroder Investment Management Group Invests $185,000 in Agree Realty Co. (ADC)

Schroder Investment Management Group bought a new stake in shares of Agree Realty Co. (NYSE:ADC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,744 shares of the real estate investment trust’s stock, valued at approximately $185,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Riverhead Capital Management LLC raised its holdings in shares of Agree Realty by 114.8% in the second quarter. Riverhead Capital Management LLC now owns 2,363 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 1,263 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Agree Realty 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 acquiring an additional 1,868 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Agree Realty by 30.0% in the second quarter. Daiwa Securities Group Inc. now owns 2,600 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 600 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Agree Realty in the second quarter valued at about $127,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Agree Realty by 154.5% in the third quarter. Victory Capital Management Inc. now owns 2,990 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 1,815 shares in the last quarter. 87.20% of the stock is owned by hedge funds and other institutional investors.

In other Agree Realty news, CFO Clayton R. Thelen purchased 1,010 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were acquired at an average price of $49.56 per share, for a total transaction of $50,055.60. Following the completion of the purchase, the chief financial officer now owns 5,073 shares of the company’s stock, valued at $251,417.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Rakolta, Jr. purchased 3,300 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were acquired at an average price of $49.67 per share, for a total transaction of $163,911.00. The disclosure for this purchase can be found here. Insiders own 4.40% of the company’s stock.

ADC has been the subject of several recent research reports. Zacks Investment Research upgraded Agree Realty from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, October 25th. ValuEngine upgraded Agree Realty from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $54.00 target price on shares of Agree Realty in a report on Tuesday, August 22nd. FBR & Co reiterated a “buy” rating and issued a $58.00 target price (up from $56.00) on shares of Agree Realty in a report on Monday, September 18th. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Agree Realty in a report on Tuesday, October 24th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $53.56.

Agree Realty Co. (ADC) opened at $52.01 on Wednesday. The company has a market cap of $1,539.38, a PE ratio of 19.88, a price-to-earnings-growth ratio of 3.89 and a beta of 0.56. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.59. Agree Realty Co. has a fifty-two week low of $43.66 and a fifty-two week high of $53.65.

Agree Realty (NYSE:ADC) last announced its earnings results on Monday, October 23rd. The real estate investment trust reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.27). The firm had revenue of $30.39 million during the quarter, compared to the consensus estimate of $29.48 million. Agree Realty had a return on equity of 7.27% and a net margin of 49.26%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. equities analysts predict that Agree Realty Co. will post 2.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This is an increase from Agree Realty’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 4.00%. Agree Realty’s payout ratio is currently 99.02%.

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Agree Realty 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).

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

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