Parametric Portfolio Associates LLC Sells 15,348 Shares of Agree Realty Corporation (ADC)

Parametric Portfolio Associates LLC cut its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 17.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,185 shares of the real estate investment trust’s stock after selling 15,348 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.26% of Agree Realty Corporation worth $3,403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sorin Capital Management LLC acquired a new position in Agree Realty Corporation during the second quarter worth about $799,000. Vanguard Group Inc. boosted its position in Agree Realty Corporation by 6.5% during the second quarter. Vanguard Group Inc. now owns 3,513,418 shares of the real estate investment trust’s stock worth $161,161,000 after acquiring an additional 214,773 shares during the last quarter. Northern Trust Corp boosted its position in Agree Realty Corporation by 2.5% during the second quarter. Northern Trust Corp now owns 836,988 shares of the real estate investment trust’s stock worth $38,392,000 after acquiring an additional 20,089 shares during the last quarter. Citigroup Inc. boosted its position in Agree Realty Corporation by 17.8% during the second quarter. Citigroup Inc. now owns 35,478 shares of the real estate investment trust’s stock worth $1,628,000 after acquiring an additional 5,357 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its position in Agree Realty Corporation by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 3,446 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

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A number of research firms recently weighed in on ADC. FBR & Co restated a “buy” rating and set a $58.00 price target on shares of Agree Realty Corporation in a research report on Tuesday, October 24th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Agree Realty Corporation in a research report on Tuesday, October 24th. Canaccord Genuity restated a “buy” rating and set a $53.00 price target on shares of Agree Realty Corporation in a research report on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and set a $54.00 price target on shares of Agree Realty Corporation in a research report on Tuesday, October 24th. Finally, BidaskClub upgraded shares of Agree Realty Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Agree Realty Corporation currently has an average rating of “Buy” and a consensus price target of $52.13.

Agree Realty Corporation (NYSE:ADC) last issued its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.27). The firm had revenue of $30.39 million for the quarter, compared to analysts’ expectations of $29.48 million. Agree Realty Corporation had a return on equity of 7.27% and a net margin of 49.26%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share.

The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a dividend of $0.505 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 4.27%. Agree Realty Corporation’s dividend payout ratio (DPR) is presently 99.02%.

Agree Realty Corporation 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). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).

Institutional Ownership by Quarter for Agree Realty Corporation (NYSE:ADC)

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