Agree Realty Corp. (NYSE:ADC) Director Gene Silverman bought 2,000 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was acquired at an average cost of $41.10 per share, with a total value of $82,200.00. Following the completion of the purchase, the director now owns 26,113 shares of the company’s stock, valued at approximately $1,073,244.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Agree Realty Corp. (NYSE:ADC) traded down 0.56% on Thursday, reaching $42.92. The company had a trading volume of 140,305 shares. The stock has a market cap of $1.02 billion, a PE ratio of 22.85 and a beta of 0.63. The stock has a 50-day moving average price of $46.72 and a 200-day moving average price of $46.58. Agree Realty Corp. has a 12 month low of $31.75 and a 12 month high of $51.33.

Agree Realty Corp. (NYSE:ADC) last posted its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Agree Realty Corp. had a return on equity of 7.88% and a net margin of 47.05%. The firm earned $22.30 million during the quarter, compared to analyst estimates of $24.21 million. During the same period last year, the company posted $0.60 EPS. The business’s quarterly revenue was up 32.7% on a year-over-year basis. Analysts predict that Agree Realty Corp. will post $2.53 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its position in Agree Realty Corp. by 1.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,540 shares of the real estate investment trust’s stock valued at $373,000 after buying an additional 90 shares during the period. Creative Planning raised its position in Agree Realty Corp. by 1.1% in the second quarter. Creative Planning now owns 9,005 shares of the real estate investment trust’s stock valued at $434,000 after buying an additional 100 shares during the period. Capstone Asset Management Co. raised its position in Agree Realty Corp. by 1.5% in the third quarter. Capstone Asset Management Co. now owns 7,583 shares of the real estate investment trust’s stock valued at $375,000 after buying an additional 110 shares during the period. Royal Bank of Canada raised its position in Agree Realty Corp. by 0.8% in the second quarter. Royal Bank of Canada now owns 38,078 shares of the real estate investment trust’s stock valued at $1,835,000 after buying an additional 313 shares during the period. Finally, Teachers Advisors LLC raised its position in Agree Realty Corp. by 1.2% in the third quarter. Teachers Advisors LLC now owns 36,968 shares of the real estate investment trust’s stock valued at $1,828,000 after buying an additional 441 shares during the period. 73.56% of the stock is owned by hedge funds and other institutional investors.

ADC has been the subject of several recent research reports. Janney Montgomery Scott reaffirmed a “buy” rating and set a $53.00 price objective on shares of Agree Realty Corp. in a research report on Tuesday, October 18th. Wunderlich upped their price objective on Agree Realty Corp. from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Jefferies Group reaffirmed a “buy” rating on shares of Agree Realty Corp. in a research report on Monday, August 22nd. Zacks Investment Research cut Agree Realty Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Finally, FBR & Co initiated coverage on Agree Realty Corp. in a research report on Wednesday, October 12th. They set an “outperform” rating and a $56.00 price objective for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $51.17.

Agree Realty Corp. Company Profile

Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership), of which it is the sole general partner and in which Agree Realty holds an approximately 98.3% interest.

5 Day Chart for NYSE:ADC

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