Clal Insurance Enterprises Holdings Ltd Takes $166,000 Position in Agree Realty Co. (NYSE:ADC)

Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Agree Realty Co. (NYSE:ADCGet Rating) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,317 shares of the real estate investment trust’s stock, valued at approximately $166,000.

A number of other institutional investors have also made changes to their positions in ADC. Morgan Stanley increased its position in Agree Realty by 77.4% during the 2nd quarter. Morgan Stanley now owns 869,942 shares of the real estate investment trust’s stock worth $61,322,000 after buying an additional 379,544 shares during the period. Invesco Ltd. increased its position in shares of Agree Realty by 93.9% in the third quarter. Invesco Ltd. now owns 732,356 shares of the real estate investment trust’s stock worth $48,503,000 after purchasing an additional 354,599 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Agree Realty by 42.3% in the third quarter. Thrivent Financial for Lutherans now owns 931,007 shares of the real estate investment trust’s stock worth $61,661,000 after purchasing an additional 276,858 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Agree Realty in the fourth quarter worth $14,949,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Agree Realty in the third quarter worth $10,868,000.

In other news, CEO Joey Agree acquired 1,749 shares of the firm’s stock in a transaction dated Tuesday, March 22nd. The stock was purchased at an average price of $64.03 per share, for a total transaction of $111,988.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

A number of research analysts recently commented on the company. StockNews.com assumed coverage on Agree Realty in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Bank of America began coverage on Agree Realty in a research note on Tuesday, February 8th. They issued a “neutral” rating and a $72.00 price objective on the stock. Morgan Stanley began coverage on Agree Realty in a research note on Friday, April 1st. They issued an “overweight” rating and a $75.00 price objective on the stock. Royal Bank of Canada reduced their price objective on Agree Realty from $80.00 to $75.00 in a research note on Thursday, February 24th. Finally, JMP Securities began coverage on Agree Realty in a research note on Tuesday. They issued an “outperform” rating and a $81.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Agree Realty presently has an average rating of “Buy” and an average target price of $76.71.

ADC stock traded up $0.71 during mid-day trading on Thursday, reaching $67.17. The company’s stock had a trading volume of 41,290 shares, compared to its average volume of 619,783. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.20 and a beta of 0.40. Agree Realty Co. has a 12 month low of $61.62 and a 12 month high of $75.95. The business’s 50 day moving average price is $67.02 and its 200 day moving average price is $67.37. The company has a current ratio of 1.04, a quick ratio of 1.11 and a debt-to-equity ratio of 0.53.

Agree Realty (NYSE:ADCGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. Agree Realty had a return on equity of 3.94% and a net margin of 35.65%. During the same quarter in the prior year, the business earned $0.84 earnings per share. As a group, equities analysts expect that Agree Realty Co. will post 3.85 EPS for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 13th. Stockholders of record on Friday, April 29th will be issued a dividend of $0.234 per share. This is an increase from Agree Realty’s previous monthly dividend of $0.23. The ex-dividend date is Thursday, April 28th. This represents a $2.81 annualized dividend and a dividend yield of 4.18%. Agree Realty’s payout ratio is currently 157.87%.

About Agree Realty (Get Rating)

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 September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.

Further Reading

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Institutional Ownership by Quarter for Agree Realty (NYSE:ADC)

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