Leeward Investments LLC MA Has $29.46 Million Stake in Agree Realty Corporation $ADC

Leeward Investments LLC MA trimmed its position in shares of Agree Realty Corporation (NYSE:ADC) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 414,670 shares of the real estate investment trust’s stock after selling 11,400 shares during the quarter. Agree Realty makes up about 1.5% of Leeward Investments LLC MA’s investment portfolio, making the stock its 7th biggest position. Leeward Investments LLC MA’s holdings in Agree Realty were worth $29,458,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ADC. Strs Ohio increased its position in Agree Realty by 79.2% in the third quarter. Strs Ohio now owns 194,492 shares of the real estate investment trust’s stock worth $13,817,000 after purchasing an additional 85,935 shares during the period. Cetera Investment Advisers lifted its position in Agree Realty by 4.4% during the 2nd quarter. Cetera Investment Advisers now owns 32,022 shares of the real estate investment trust’s stock valued at $2,340,000 after purchasing an additional 1,351 shares during the period. AGP Franklin LLC bought a new position in shares of Agree Realty in the 3rd quarter valued at about $1,398,000. Lmcg Investments LLC grew its position in shares of Agree Realty by 26.1% during the 3rd quarter. Lmcg Investments LLC now owns 106,456 shares of the real estate investment trust’s stock worth $7,563,000 after buying an additional 22,063 shares during the period. Finally, Azzad Asset Management Inc. ADV acquired a new stake in shares of Agree Realty during the 3rd quarter worth approximately $971,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of Agree Realty from $77.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, January 21st. Truist Financial dropped their price objective on Agree Realty from $84.00 to $82.00 and set a “buy” rating for the company in a report on Friday, October 24th. Stifel Nicolaus increased their target price on Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research note on Wednesday. Finally, KeyCorp boosted their target price on Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and an average price target of $80.50.

Insider Transactions at Agree Realty

In related news, Director John Rakolta, Jr. purchased 15,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were purchased at an average price of $72.18 per share, with a total value of $1,082,700.00. Following the completion of the purchase, the director owned 562,606 shares in the company, valued at $40,608,901.08. This represents a 2.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard Agree purchased 24,000 shares of Agree Realty stock in a transaction dated Friday, January 9th. The stock was bought at an average price of $70.67 per share, with a total value of $1,696,080.00. Following the acquisition, the chairman directly owned 159,855 shares of the company’s stock, valued at approximately $11,296,952.85. This trade represents a 17.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 39,500 shares of company stock valued at $2,813,680 over the last 90 days. 1.80% of the stock is owned by company insiders.

Agree Realty Price Performance

ADC opened at $78.02 on Friday. The stock has a market cap of $9.36 billion, a P/E ratio of 44.08, a P/E/G ratio of 2.77 and a beta of 0.54. Agree Realty Corporation has a 12 month low of $68.98 and a 12 month high of $79.65. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $72.60 and a 200 day simple moving average of $72.86.

Agree Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a $0.262 dividend. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, February 27th. Agree Realty’s dividend payout ratio is 177.40%.

About Agree Realty

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.