Securian Asset Management Inc reduced its stake in Agree Realty Co. (NYSE:ADC) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 293,018 shares of the real estate investment trust’s stock after selling 2,400 shares during the period. Securian Asset Management Inc’s holdings in Agree Realty were worth $15,463,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Agree Realty by 54.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,083 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 1,082 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Agree Realty by 73.5% in the 1st quarter. SG Americas Securities LLC now owns 3,959 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,677 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Agree Realty in the 1st quarter worth approximately $209,000. Amalgamated Bank bought a new stake in shares of Agree Realty in the 2nd quarter worth approximately $233,000. Finally, Profund Advisors LLC raised its holdings in shares of Agree Realty by 22.8% in the 1st quarter. Profund Advisors LLC now owns 5,431 shares of the real estate investment trust’s stock worth $261,000 after purchasing an additional 1,008 shares in the last quarter. 96.31% of the stock is owned by institutional investors.
ADC stock opened at $56.13 on Tuesday. Agree Realty Co. has a 52-week low of $43.74 and a 52-week high of $56.28. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.63 billion, a PE ratio of 20.64, a PEG ratio of 3.86 and a beta of 0.33.
Agree Realty (NYSE:ADC) last released its quarterly earnings results on Monday, July 23rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.06. Agree Realty had a net margin of 43.90% and a return on equity of 6.53%. The business had revenue of $35.71 million for the quarter, compared to analyst estimates of $35.50 million. equities research analysts anticipate that Agree Realty Co. will post 2.9 EPS for the current fiscal year.
ADC has been the topic of a number of research reports. SunTrust Banks set a $57.00 target price on shares of Agree Realty and gave the stock a “buy” rating in a report on Tuesday, August 7th. Stifel Nicolaus boosted their target price on shares of Agree Realty from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Finally, ValuEngine upgraded shares of Agree Realty from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $55.75.
Agree Realty Profile
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, 2018, the Company owned and operated a portfolio of 481 properties, located in 44 states and containing approximately 9.3 million square feet of gross leasable space.
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