Universal Beteiligungs und Servicegesellschaft mbH Has $32.88 Million Holdings in Agree Realty Corporation $ADC

Universal Beteiligungs und Servicegesellschaft mbH trimmed its position in Agree Realty Corporation (NYSE:ADC) by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,897 shares of the real estate investment trust’s stock after selling 76,135 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.40% of Agree Realty worth $32,884,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ADC. Farther Finance Advisors LLC increased its holdings in Agree Realty by 408.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 306 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Agree Realty by 158.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 356 shares in the last quarter. Versant Capital Management Inc increased its stake in Agree Realty by 47.6% in the third quarter. Versant Capital Management Inc now owns 775 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 250 shares during the period. Allworth Financial LP raised its position in Agree Realty by 41.7% in the second quarter. Allworth Financial LP now owns 891 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 262 shares in the last quarter. Finally, MAI Capital Management lifted its stake in Agree Realty by 122.3% during the second quarter. MAI Capital Management now owns 907 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 499 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus set a $83.50 target price on Agree Realty in a report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Truist Financial lowered their target price on shares of Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Finally, Barclays increased their target price on shares of Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 3rd. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.23.

Insider Activity at Agree Realty

In other news, Director John Rakolta, Jr. acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, December 24th. The shares were purchased at an average cost of $72.18 per share, for a total transaction of $1,082,700.00. Following the transaction, the director owned 562,606 shares of the company’s stock, valued at approximately $40,608,901.08. This represents a 2.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard Agree bought 24,000 shares of the company’s stock in a transaction dated Friday, January 9th. The shares were purchased at an average price of $70.67 per share, with a total value of $1,696,080.00. Following the transaction, the chairman owned 159,855 shares of the company’s stock, valued at $11,296,952.85. The trade was a 17.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 39,500 shares of company stock valued at $2,813,680 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Agree Realty Stock Performance

Shares of NYSE:ADC opened at $72.19 on Thursday. The business has a fifty day moving average of $72.75 and a 200-day moving average of $72.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68. Agree Realty Corporation has a twelve month low of $68.98 and a twelve month high of $79.65. The firm has a market cap of $8.30 billion, a PE ratio of 42.22, a price-to-earnings-growth ratio of 2.28 and a beta of 0.55.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $183.22 million for the quarter, compared to analyst estimates of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The company’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. On average, equities research analysts predict that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.262 per share. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, January 30th. Agree Realty’s dividend payout ratio is 183.63%.

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.