Entropy Technologies LP Has $4.49 Million Stock Position in Agree Realty Corporation $ADC

Entropy Technologies LP lifted its stake in shares of Agree Realty Corporation (NYSE:ADC) by 100.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,562 shares of the real estate investment trust’s stock after purchasing an additional 29,899 shares during the period. Entropy Technologies LP’s holdings in Agree Realty were worth $4,490,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ADC. Clearstead Trust LLC increased its holdings in Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 242 shares during the last quarter. Wiser Advisor Group LLC bought a new stake in Agree Realty during the third quarter worth $32,000. Clearstead Advisors LLC lifted its stake in Agree Realty by 163.8% in the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 285 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Agree Realty by 71.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 192 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in shares of Agree Realty by 178.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ADC has been the topic of several recent analyst reports. Huntington assumed coverage on shares of Agree Realty in a research note on Wednesday, July 15th. They set an “outperform” rating and a $84.00 price objective on the stock. Citigroup raised their target price on shares of Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research note on Friday, April 24th. Jefferies Financial Group began coverage on Agree Realty in a report on Monday, June 1st. They set a “buy” rating and a $84.00 price target for the company. Morgan Stanley set a $81.00 price target on Agree Realty in a research report on Tuesday, April 21st. Finally, Mizuho dropped their price objective on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.88.

Agree Realty Trading Up 1.3%

ADC stock opened at $80.81 on Friday. Agree Realty Corporation has a one year low of $69.56 and a one year high of $82.08. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of 43.68, a price-to-earnings-growth ratio of 2.68 and a beta of 0.47. The company has a fifty day moving average price of $76.11 and a two-hundred day moving average price of $76.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.267 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.0%. Agree Realty’s payout ratio is presently 172.97%.

Insider Activity at Agree Realty

In related news, CEO Joey Agree purchased 13,295 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $75.41 per share, for a total transaction of $1,002,575.95. Following the purchase, the chief executive officer owned 675,105 shares in the company, valued at approximately $50,909,668.05. This represents a 2.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Greg Lehmkuhl purchased 750 shares of the stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the completion of the acquisition, the director owned 34,465 shares in the company, valued at approximately $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 19,045 shares of company stock worth $1,415,943. Insiders own 1.80% of the company’s stock.

Agree Realty Company Profile

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.