Teachers Insurance & Annuity Association of America Grows Holdings in Agree Realty Co. (NYSE:ADC)

Share on StockTwits

Teachers Insurance & Annuity Association of America boosted its position in Agree Realty Co. (NYSE:ADC) by 150.7% in the second quarter, HoldingsChannel reports. The firm owned 77,709 shares of the real estate investment trust’s stock after buying an additional 46,712 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Agree Realty were worth $4,977,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ADC. BlackRock Inc. raised its stake in shares of Agree Realty by 5.2% during the 1st quarter. BlackRock Inc. now owns 6,062,151 shares of the real estate investment trust’s stock worth $420,349,000 after purchasing an additional 298,272 shares during the period. Principal Financial Group Inc. raised its position in Agree Realty by 1.5% in the first quarter. Principal Financial Group Inc. now owns 1,537,863 shares of the real estate investment trust’s stock worth $106,635,000 after acquiring an additional 22,990 shares during the period. Northern Trust Corp boosted its stake in Agree Realty by 4.2% in the second quarter. Northern Trust Corp now owns 974,733 shares of the real estate investment trust’s stock valued at $62,431,000 after acquiring an additional 39,212 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Agree Realty by 16.3% in the second quarter. Russell Investments Group Ltd. now owns 538,138 shares of the real estate investment trust’s stock valued at $34,426,000 after acquiring an additional 75,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Agree Realty by 10.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 517,960 shares of the real estate investment trust’s stock valued at $30,622,000 after acquiring an additional 48,045 shares during the period.

In other Agree Realty news, Director Farris G. Kalil sold 1,034 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $63.70, for a total transaction of $65,865.80. Following the sale, the director now owns 8,000 shares of the company’s stock, valued at approximately $509,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Rakolta, Jr. bought 10,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were bought at an average price of $64.20 per share, for a total transaction of $642,000.00. Following the transaction, the director now owns 216,088 shares of the company’s stock, valued at $13,872,849.60. The disclosure for this purchase can be found here. 3.10% of the stock is owned by corporate insiders.

Shares of NYSE ADC traded up $0.67 during trading on Wednesday, reaching $72.02. 69,723 shares of the stock traded hands, compared to its average volume of 243,516. Agree Realty Co. has a 52-week low of $50.72 and a 52-week high of $76.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.42 and a quick ratio of 0.42. The company has a 50-day moving average of $71.06 and a 200-day moving average of $67.66. The stock has a market capitalization of $3.07 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 4.09 and a beta of 0.04.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.29). Agree Realty had a return on equity of 5.19% and a net margin of 39.76%. The firm had revenue of $44.92 million during the quarter, compared to analysts’ expectations of $44.05 million. Analysts expect that Agree Realty Co. will post 3.03 earnings per share for the current fiscal year.

The firm also recently disclosed a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.57 per share. This represents a yield of 3.1%. The ex-dividend date is Thursday, September 26th. Agree Realty’s dividend payout ratio (DPR) is presently 80.00%.

Several brokerages have recently issued reports on ADC. Zacks Investment Research lowered shares of Agree Realty from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Wells Fargo & Co reiterated a “buy” rating and issued a $82.00 price objective on shares of Agree Realty in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Agree Realty has a consensus rating of “Buy” and a consensus price target of $75.00.

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 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 Article: What is the market perform rating?

Want to see what other hedge funds are holding ADC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Agree Realty Co. (NYSE:ADC).

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.