Redpoint Investment Management Pty Ltd holds a position in Agree Realty Co. (NYSE: ADC)


Redpoint Investment Management Pty Ltd has acquired a new stake in Agree Realty Co. (NYSE: ADC – Get Rating) in the first quarter, reports HoldingsChannel. The company purchased 3,608 shares of the real estate investment trust, valued at approximately $ 239,000.

Other institutional investors and hedge funds have also recently bought and sold shares in the company. AGF Investments LLC acquired a new stake in Agree Realty in the fourth quarter worth $ 37,000. UMB Bank NA MO acquired a new stake in Agree Realty in the fourth quarter worth $ 49,000. Mitsubishi UFJ Trust & Banking Corp. increased its stake in Agree Realty by 21.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp. already owns 1,636 shares of the $ 117,000 real estate investment trust after gaining an additional 288 shares in the last quarter. Lazard Asset Management LLC increased its stake in Agree Realty by 331.6% in the fourth quarter. Lazard Asset Management LLC now owns 1,951 shares of real estate investment trust shares worth $ 139,000 after acquiring an additional 1,499 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in Agree Realty in the fourth quarter worth $ 166,000.

Recently, a number of analysts commented on the company. StockNews.com adopted Agree Realty’s coverage in a research note on Thursday, March 31st. They set a share retention rating. Bank of America raised Agree Realty’s rating from “neutral” to “buy” and raised its price target for the company from $ 76.00 to $ 78.00 in a research note on Thursday (June 2nd). Credit Suisse Group began covering Agree Realty in a research note on Wednesday. They issued a rating of “superior” and a target price for the shares of $ 78.00. JMP Securities began covering Agree Realty in a research note on Tuesday, May 10th. They issued a rating of “superior” and target prices of $ 81.00 per share. Finally, Truist Financial raised its target price for Agree Realty from $ 74.00 to $ 77.00 and gave the stock a “buy” rating in a research note on Wednesday, June 1. Three analysts rated the shares with a hold rating, eight gave a buy rating and one gave a strong buy rating to the company. Based on data from MarketBeat, the shares currently have an average rating of “Moderate buying” and a consensus target price of $ 76.59.

The NYSE ADC opened at $ 74.12 on Friday. The company has a market capitalization of $ 5.57 billion, a P / E ratio of 41.64, a P / E / G ratio of 2.48 and a beta ratio of 0.40. Agree Realty Co. has a 1-year low of $ 61.62 and a 1-year high of $ 75.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a fast ratio of 1.04. The business’s 50-day simple moving average is $ 69.36, and its 200-day simple moving average is $ 67.26.

Agree Realty (NYSE: ADC – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $ 0.48 earnings per share 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 profit of 35.65%. During the same period last year, the company reported $ 0.84 EPS. On average, stock analysts expect Agree Realty Co. will report EPS 3.92 for the current fiscal year.

The company also recently unveiled a monthly dividend that will be paid on Thursday, July 14th. The record shareholders on Thursday, June 30, will receive a dividend of $ 0.234. This represents a $ 2.81 annual dividend and a dividend yield of 3.79%. The date of the former dividend of this dividend is Wednesday, June 29. Agree Realty’s dividend payout ratio is currently 157.87%.

About Agree Realty (Get a rating)

Agree Realty Corporation is a publicly traded real estate investment trust, primarily engaged in the acquisition and development of net rental properties to industry-leading renters. As of September 30, 2020, the Company owns and manages a portfolio of 1,027 properties located in 45 states and containing approximately 21.0 million square feet of gross leasable area.

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Want to see what other hedge funds hold ADC? Visit HoldingsChannel.com to get the latest 13F inquiries and domestic deals for Agree Realty Co. (NYSE: ADC – Get rating).

Institutional ownership by quarter for Agree Realty (NYSE: ADC)



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