Lasalle Investment Management Securities LLC Purchases 429,469 Shares of Agree Realty Corporation $ADC

Lasalle Investment Management Securities LLC boosted its position in Agree Realty Corporation (NYSE:ADC) by 208.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 635,405 shares of the real estate investment trust’s stock after acquiring an additional 429,469 shares during the period. Agree Realty accounts for about 1.8% of Lasalle Investment Management Securities LLC’s holdings, making the stock its 23rd biggest position. Lasalle Investment Management Securities LLC owned approximately 0.55% of Agree Realty worth $45,139,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. lifted its holdings in shares of Agree Realty by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 215 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Agree Realty by 1,513.3% during the third quarter. Cornerstone Planning Group LLC now owns 484 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 454 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Agree Realty by 158.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 580 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 356 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Agree Realty by 47.6% in the third quarter. Versant Capital Management Inc now owns 775 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 250 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Agree Realty by 114.7% during the third quarter. Farther Finance Advisors LLC now owns 818 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 437 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ADC shares. Wells Fargo & Company raised their price target on shares of Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, November 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a report on Wednesday, January 21st. Wall Street Zen cut Agree Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, January 27th. Royal Bank Of Canada upped their price target on Agree Realty from $79.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Stifel Nicolaus increased their price target on Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and an average price target of $80.50.

Agree Realty Stock Up 1.0%

Shares of NYSE:ADC opened at $80.57 on Friday. Agree Realty Corporation has a 1 year low of $68.98 and a 1 year high of $81.17. The company has a market capitalization of $9.67 billion, a PE ratio of 45.52, a price-to-earnings-growth ratio of 3.13 and a beta of 0.54. The business has a fifty day moving average price of $73.99 and a two-hundred day moving average price of $73.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.81 and a quick ratio of 0.81.

Agree Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.262 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a yield of 3.9%. Agree Realty’s payout ratio is currently 177.40%.

Insider Buying and Selling at Agree Realty

In related news, Chairman Richard Agree purchased 24,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was bought at an average price of $70.67 per share, for a total transaction of $1,696,080.00. Following the purchase, the chairman directly owned 159,855 shares in the company, valued at approximately $11,296,952.85. This trade represents a 17.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Rakolta, Jr. purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, December 24th. The stock was bought at an average cost of $72.18 per share, for a total transaction of $1,082,700.00. Following the acquisition, the director directly owned 562,606 shares in the company, valued at $40,608,901.08. This trade represents a 2.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 39,500 shares of company stock worth $2,813,680 over the last three months. 1.80% of the stock is currently owned by insiders.

About Agree Realty

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.