Orion Porfolio Solutions LLC Purchases 7,575 Shares of Agree Realty Corporation $ADC

Orion Porfolio Solutions LLC raised its position in shares of Agree Realty Corporation (NYSE:ADC) by 28.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,855 shares of the real estate investment trust’s stock after buying an additional 7,575 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in Agree Realty were worth $2,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Agree Realty by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,625,400 shares of the real estate investment trust’s stock valued at $115,467,000 after purchasing an additional 11,128 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Agree Realty by 12.4% in the 3rd quarter. Victory Capital Management Inc. now owns 122,698 shares of the real estate investment trust’s stock worth $8,716,000 after buying an additional 13,550 shares in the last quarter. Elo Mutual Pension Insurance Co grew its stake in shares of Agree Realty by 108.9% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 27,751 shares of the real estate investment trust’s stock worth $1,971,000 after buying an additional 14,465 shares in the last quarter. Fairtree Asset Management Pty Ltd increased its holdings in shares of Agree Realty by 14.4% in the 3rd quarter. Fairtree Asset Management Pty Ltd now owns 6,676 shares of the real estate investment trust’s stock worth $474,000 after buying an additional 840 shares during the last quarter. Finally, Journey Strategic Wealth LLC increased its holdings in shares of Agree Realty by 7.1% in the 3rd quarter. Journey Strategic Wealth LLC now owns 8,220 shares of the real estate investment trust’s stock worth $584,000 after buying an additional 543 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Price Performance

Agree Realty stock opened at $80.46 on Wednesday. Agree Realty Corporation has a 12-month low of $68.98 and a 12-month high of $82.08. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $75.23 and a 200-day moving average price of $73.65. The firm has a market capitalization of $9.66 billion, a PE ratio of 45.46, a price-to-earnings-growth ratio of 3.15 and a beta of 0.52.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.262 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 3.9%. Agree Realty’s dividend payout ratio (DPR) is presently 177.40%.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Chairman Richard Agree bought 24,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were purchased at an average price of $70.67 per share, with a total value of $1,696,080.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Peter Coughenour purchased 500 shares of Agree Realty stock in a transaction dated Friday, January 9th. The stock was acquired at an average price of $69.80 per share, for a total transaction of $34,900.00. Following the completion of the acquisition, the chief financial officer owned 18,544 shares of the company’s stock, valued at approximately $1,294,371.20. This trade represents a 2.77% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 39,500 shares of company stock worth $2,813,680 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ADC has been the topic of several recent research reports. Weiss Ratings upgraded shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 3rd. UBS Group boosted their price objective on Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday. Wall Street Zen downgraded Agree Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, January 27th. Royal Bank Of Canada raised their price objective on Agree Realty from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Finally, Stifel Nicolaus lifted their target price on Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.32.

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.