Agree Realty Co. (NYSE:ADC) Shares Bought by New Century Advisors LLC

New Century Advisors LLC increased its holdings in Agree Realty Co. (NYSE:ADCGet Rating) by 56.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 576 shares of the real estate investment trust’s stock after purchasing an additional 207 shares during the period. New Century Advisors LLC’s holdings in Agree Realty were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Gilman Hill Asset Management LLC grew its position in shares of Agree Realty by 2.8% in the second quarter. Gilman Hill Asset Management LLC now owns 10,770 shares of the real estate investment trust’s stock valued at $777,000 after purchasing an additional 295 shares during the period. Raymond James Trust N.A. grew its position in shares of Agree Realty by 9.9% in the second quarter. Raymond James Trust N.A. now owns 5,030 shares of the real estate investment trust’s stock valued at $362,000 after purchasing an additional 453 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Agree Realty by 19.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 10,837 shares of the real estate investment trust’s stock valued at $782,000 after purchasing an additional 1,744 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Agree Realty by 17.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,577 shares of the real estate investment trust’s stock valued at $691,000 after purchasing an additional 1,414 shares during the period. Finally, Manning & Napier Group LLC grew its position in shares of Agree Realty by 0.7% in the second quarter. Manning & Napier Group LLC now owns 56,858 shares of the real estate investment trust’s stock valued at $4,100,000 after purchasing an additional 406 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ADC shares. Jefferies Financial Group lifted their price objective on Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, June 30th. Truist Financial boosted their price target on Agree Realty from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, August 22nd. Bank of America raised Agree Realty from a “neutral” rating to a “buy” rating and boosted their price target for the company from $76.00 to $78.00 in a research report on Thursday, June 2nd. JMP Securities boosted their price target on Agree Realty from $81.00 to $82.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 3rd. Finally, Citigroup boosted their price target on Agree Realty to $80.00 in a research report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.86.

Agree Realty Stock Down 0.4 %

Shares of NYSE:ADC traded down $0.27 during trading on Friday, hitting $70.62. The company’s stock had a trading volume of 30,854 shares, compared to its average volume of 768,028. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 0.98. Agree Realty Co. has a fifty-two week low of $61.62 and a fifty-two week high of $80.44. The stock’s 50-day moving average price is $76.31 and its two-hundred day moving average price is $71.42. The company has a market capitalization of $5.64 billion, a PE ratio of 37.51, a PEG ratio of 2.61 and a beta of 0.41.

Agree Realty (NYSE:ADCGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Agree Realty had a return on equity of 4.38% and a net margin of 37.13%. During the same quarter in the previous year, the company earned $0.89 EPS. As a group, sell-side analysts expect that Agree Realty Co. will post 3.88 EPS for the current year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.234 per share. This represents a $2.81 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Thursday, September 29th. Agree Realty’s dividend payout ratio (DPR) is presently 148.68%.

About Agree Realty

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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 September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.

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

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