TB Alternative Assets Ltd. bought a new position in shares of Agree Realty Co. (NYSE:ADC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,500 shares of the real estate investment trust’s stock, valued at approximately $414,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Copper Rock Capital Partners LLC increased its position in shares of Agree Realty by 4,204.7% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 9,999,690 shares of the real estate investment trust’s stock valued at $638,483,000 after purchasing an additional 9,767,391 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Agree Realty by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,908,551 shares of the real estate investment trust’s stock valued at $519,671,000 after buying an additional 818,313 shares during the last quarter. Invesco Ltd. grew its position in shares of Agree Realty by 38.2% in the 1st quarter. Invesco Ltd. now owns 4,265,708 shares of the real estate investment trust’s stock valued at $264,047,000 after buying an additional 1,179,877 shares during the last quarter. Zimmer Partners LP boosted its stake in Agree Realty by 160.2% during the 1st quarter. Zimmer Partners LP now owns 2,750,000 shares of the real estate investment trust’s stock worth $170,225,000 after purchasing an additional 1,693,012 shares during the period. Finally, State Street Corp boosted its stake in Agree Realty by 10.5% during the 1st quarter. State Street Corp now owns 1,796,263 shares of the real estate investment trust’s stock worth $112,218,000 after purchasing an additional 171,076 shares during the period.

ADC has been the subject of a number of recent research reports. Mizuho assumed coverage on shares of Agree Realty in a research note on Tuesday, September 29th. They set a “buy” rating and a $71.00 price target for the company. Citigroup raised their target price on shares of Agree Realty from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Raymond James assumed coverage on shares of Agree Realty in a research note on Friday, October 2nd. They issued a “strong-buy” rating and a $82.00 target price for the company. Zacks Investment Research cut shares of Agree Realty from a “buy” rating to a “hold” rating in a research note on Monday, September 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $73.00 target price on shares of Agree Realty in a research note on Friday, July 10th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $74.91.

NYSE:ADC traded down $0.44 during mid-day trading on Friday, hitting $65.37. 350,160 shares of the company’s stock traded hands, compared to its average volume of 608,471. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50 day simple moving average is $65.69 and its 200 day simple moving average is $64.84. Agree Realty Co. has a 1 year low of $45.23 and a 1 year high of $80.51. The company has a market cap of $3.52 billion, a PE ratio of 33.70 and a beta of 0.24.

Agree Realty (NYSE:ADC) last posted its earnings results on Monday, July 20th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.25). The business had revenue of $57.54 million for the quarter, compared to analysts’ expectations of $55.23 million. Agree Realty had a net margin of 41.98% and a return on equity of 5.24%. On average, research analysts expect that Agree Realty Co. will post 3.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, September 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.67%. Agree Realty’s dividend payout ratio (DPR) is presently 77.92%.

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, 2020, the Company owned and operated a portfolio of 936 properties, located in 46 states and containing approximately 18.4 million square feet of gross leasable area.

Featured Article: Limitations of the P/E Growth ratio

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

Receive News & Ratings for Agree Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty and related companies with MarketBeat.com's FREE daily email newsletter.