Symons Capital Management Inc. lowered its position in Agree Realty Co. (NYSE:ADC) by 3.1% during the 3rd quarter, Holdings Channel reports. The fund owned 7,244 shares of the real estate investment trust’s stock after selling 228 shares during the period. Symons Capital Management Inc.’s holdings in Agree Realty were worth $530,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Pearl River Capital LLC bought a new position in Agree Realty in the second quarter worth approximately $80,000. Quadrant Capital Group LLC boosted its holdings in Agree Realty by 98.0% in the third quarter. Quadrant Capital Group LLC now owns 1,216 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 602 shares in the last quarter. Point72 Hong Kong Ltd boosted its holdings in Agree Realty by 127.6% in the second quarter. Point72 Hong Kong Ltd now owns 2,076 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 1,164 shares in the last quarter. USA Financial Portformulas Corp boosted its holdings in Agree Realty by 8.2% in the second quarter. USA Financial Portformulas Corp now owns 2,905 shares of the real estate investment trust’s stock worth $201,000 after acquiring an additional 221 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Agree Realty in the third quarter worth approximately $202,000.
Shares of ADC stock traded down $0.61 during trading hours on Friday, reaching $74.51. The company had a trading volume of 251,097 shares, compared to its average volume of 293,336. Agree Realty Co. has a 12 month low of $56.46 and a 12 month high of $79.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.45 and a quick ratio of 0.45. The business has a fifty day simple moving average of $75.36 and a 200-day simple moving average of $69.94. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 4.20 and a beta of -0.01.
Agree Realty (NYSE:ADC) last posted its earnings results on Monday, October 21st. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.06. Agree Realty had a return on equity of 5.16% and a net margin of 40.18%. The company had revenue of $48.08 million for the quarter, compared to analyst estimates of $47.28 million. On average, equities research analysts expect that Agree Realty Co. will post 3.05 earnings per share for the current year.
The business also recently announced a — dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.57 dividend. The ex-dividend date was Thursday, September 26th. This represents a dividend yield of 3.1%. Agree Realty’s dividend payout ratio is presently 80.00%.
Several research analysts have issued reports on the company. ValuEngine lowered Agree Realty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Berenberg Bank assumed coverage on Agree Realty in a report on Tuesday, October 1st. They issued a “buy” rating and a $82.00 price target on the stock. SunTrust Banks increased their price target on Agree Realty from $76.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Zacks Investment Research upgraded Agree Realty from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Tuesday, September 24th. Finally, Wells Fargo & Co reiterated a “buy” rating and issued a $82.00 price target on shares of Agree Realty in a report on Friday, August 30th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $76.86.
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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