John Rakolta, Jr. Buys 10,000 Shares of Agree Realty Co. (NYSE:ADC) Stock

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Agree Realty Co. (NYSE:ADC) Director John Rakolta, Jr. purchased 10,000 shares of Agree Realty stock in a transaction that occurred on Wednesday, June 26th. The shares were bought at an average cost of $64.20 per share, for a total transaction of $642,000.00. Following the completion of the transaction, the director now directly owns 216,088 shares in the company, valued at approximately $13,872,849.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Agree Realty stock opened at $64.05 on Friday. The business’s 50 day moving average is $66.93. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 3.56 and a beta of 0.13. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. Agree Realty Co. has a one year low of $50.72 and a one year high of $70.25.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.26). Agree Realty had a return on equity of 5.33% and a net margin of 38.49%. The business had revenue of $42.35 million for the quarter, compared to analysts’ expectations of $43.77 million. On average, sell-side analysts anticipate that Agree Realty Co. will post 3.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, June 27th. This is an increase from Agree Realty’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 3.56%. Agree Realty’s payout ratio is currently 77.89%.

A number of hedge funds have recently bought and sold shares of the business. Blue Chip Partners Inc. increased its holdings in Agree Realty by 0.4% during the 1st quarter. Blue Chip Partners Inc. now owns 44,859 shares of the real estate investment trust’s stock worth $3,111,000 after purchasing an additional 181 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Agree Realty by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,354 shares of the real estate investment trust’s stock worth $926,000 after purchasing an additional 241 shares during the last quarter. LS Investment Advisors LLC increased its holdings in Agree Realty by 7.9% during the 1st quarter. LS Investment Advisors LLC now owns 3,293 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 242 shares during the last quarter. Stifel Financial Corp increased its holdings in Agree Realty by 0.9% during the 4th quarter. Stifel Financial Corp now owns 30,117 shares of the real estate investment trust’s stock worth $1,772,000 after purchasing an additional 259 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Agree Realty by 6.2% during the 4th quarter. Amalgamated Bank now owns 4,645 shares of the real estate investment trust’s stock worth $275,000 after purchasing an additional 271 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Several research firms recently commented on ADC. Wells Fargo & Co boosted their price target on Agree Realty from $67.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. They noted that the move was a valuation call. Raymond James boosted their price target on Agree Realty from $68.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Agree Realty presently has a consensus rating of “Buy” and an average price target of $66.33.

Agree Realty Company 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.

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Insider Buying and Selling by Quarter for Agree Realty (NYSE:ADC)

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