Agree Realty Co. (ADC) Shares Sold by Rothschild & Co. Asset Management US Inc.

Rothschild & Co. Asset Management US Inc. lessened its stake in Agree Realty Co. (NYSE:ADC) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,425 shares of the real estate investment trust’s stock after selling 1,017 shares during the period. Rothschild & Co. Asset Management US Inc.’s holdings in Agree Realty were worth $1,297,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ADC. Motley Fool Wealth Management LLC bought a new position in Agree Realty in the 3rd quarter worth approximately $203,000. Oppenheimer Asset Management Inc. bought a new position in Agree Realty in the 2nd quarter worth approximately $217,000. Amalgamated Bank bought a new position in Agree Realty in the 2nd quarter worth approximately $233,000. Fox Run Management L.L.C. bought a new position in Agree Realty in the 3rd quarter worth approximately $239,000. Finally, Vident Investment Advisory LLC bought a new position in Agree Realty in the 2nd quarter worth approximately $242,000. Hedge funds and other institutional investors own 93.32% of the company’s stock.

In other news, COO Laith Hermiz sold 3,500 shares of the business’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $58.00, for a total value of $203,000.00. Following the completion of the transaction, the chief operating officer now owns 28,328 shares of the company’s stock, valued at approximately $1,643,024. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Rakolta, Jr. purchased 13,274 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was purchased at an average cost of $54.80 per share, with a total value of $727,415.20. Following the acquisition, the director now directly owns 12,000 shares in the company, valued at $657,600. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by insiders.

Several research analysts recently weighed in on the stock. Jefferies Financial Group set a $58.00 price objective on shares of Agree Realty and gave the stock a “hold” rating in a research report on Monday, September 17th. SunTrust Banks set a $57.00 target price on shares of Agree Realty and gave the stock a “buy” rating in a report on Tuesday, August 7th. ValuEngine raised shares of Agree Realty from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Stifel Nicolaus lifted their target price on shares of Agree Realty from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Finally, Wells Fargo & Co set a $63.00 target price on shares of Agree Realty and gave the stock a “buy” rating in a report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Agree Realty currently has a consensus rating of “Buy” and a consensus target price of $58.00.

ADC opened at $59.57 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.09 and a quick ratio of 1.09. Agree Realty Co. has a 52 week low of $43.74 and a 52 week high of $59.90. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 4.12 and a beta of 0.08.

Agree Realty (NYSE:ADC) last released its earnings results on Monday, October 22nd. The real estate investment trust reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Agree Realty had a net margin of 44.17% and a return on equity of 6.46%. The firm had revenue of $37.31 million during the quarter, compared to analyst estimates of $36.97 million. Equities analysts expect that Agree Realty Co. will post 2.87 EPS for the current year.

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About Agree Realty

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 June 30, 2018, the Company owned and operated a portfolio of 481 properties, located in 44 states and containing approximately 9.3 million square feet of gross leasable space.

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

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