Agree Realty Co. (NYSE:ADC) Director Jerome R. Rossi purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were purchased at an average price of $60.72 per share, for a total transaction of $121,440.00. Following the purchase, the director now directly owns 4,171 shares in the company, valued at $253,263.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of ADC stock traded up $1.57 during midday trading on Thursday, hitting $61.20. The company had a trading volume of 10,923 shares, compared to its average volume of 762,604. The company’s 50 day simple moving average is $71.57 and its 200 day simple moving average is $72.90. Agree Realty Co. has a 52-week low of $45.23 and a 52-week high of $80.51. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 2.54 and a beta of 0.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.57 and a quick ratio of 0.57.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Friday, March 27th will be paid a $0.585 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $2.34 annualized dividend and a dividend yield of 3.82%. Agree Realty’s dividend payout ratio (DPR) is currently 75.97%.
A number of research analysts recently issued reports on ADC shares. Robert W. Baird raised their price target on Agree Realty from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Stifel Nicolaus lowered their target price on Agree Realty from $81.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Capital One Financial began coverage on Agree Realty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $82.00 target price on the stock. Citigroup downgraded Agree Realty from a “buy” rating to a “neutral” rating in a research note on Friday, December 13th. Finally, Zacks Investment Research downgraded Agree Realty from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Agree Realty has a consensus rating of “Buy” and a consensus price target of $80.57.
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 March 31, 2019, the Company owned and operated a portfolio of 694 properties, located in 46 states and containing approximately 11.9 million square feet of gross leasable space.
Featured Story: Net Margin – Understanding the Different Kinds of Profit
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.