Agree Realty Corporation $ADC Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC reduced its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 978,476 shares of the real estate investment trust’s stock after selling 35,473 shares during the period. GW&K Investment Management LLC owned about 0.85% of Agree Realty worth $69,511,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Westside Investment Management Inc. increased its stake in Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 215 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Agree Realty by 1,513.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 454 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Agree Realty by 158.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 356 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Agree Realty by 47.6% in the 3rd quarter. Versant Capital Management Inc now owns 775 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 250 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Agree Realty by 114.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 818 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wall Street Zen cut shares of Agree Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, January 27th. Wells Fargo & Company upped their price target on shares of Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 25th. Stifel Nicolaus raised their price objective on Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings upgraded shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Mizuho dropped their price target on shares of Agree Realty from $77.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Insider Buying and Selling at Agree Realty

In other news, CFO Peter Coughenour purchased 500 shares of the business’s stock in a transaction on Friday, January 9th. The stock was purchased at an average price of $69.80 per share, with a total value of $34,900.00. Following the acquisition, the chief financial officer directly owned 18,544 shares in the company, valued at approximately $1,294,371.20. The trade was a 2.77% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Richard Agree bought 24,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were acquired at an average price of $70.67 per share, for a total transaction of $1,696,080.00. Following the completion of the transaction, the chairman owned 159,855 shares in the company, valued at $11,296,952.85. This represents a 17.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 39,500 shares of company stock worth $2,813,680 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Agree Realty Trading Up 0.0%

Shares of NYSE ADC opened at $81.93 on Thursday. The business has a 50-day moving average price of $74.56 and a two-hundred day moving average price of $73.43. Agree Realty Corporation has a one year low of $68.98 and a one year high of $82.08. The firm has a market capitalization of $9.83 billion, a PE ratio of 46.29, a PEG ratio of 3.18 and a beta of 0.52. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.262 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, February 27th. Agree Realty’s payout ratio is presently 177.40%.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.