State of Alaska Department of Revenue Increases Holdings in Agree Realty Co. (NYSE:ADC)

State of Alaska Department of Revenue grew its holdings in shares of Agree Realty Co. (NYSE:ADC) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,713 shares of the real estate investment trust’s stock after buying an additional 4,050 shares during the quarter. State of Alaska Department of Revenue owned 0.07% of Agree Realty worth $1,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ADC. Nisa Investment Advisors LLC raised its position in Agree Realty by 555.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,900 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 1,610 shares during the period. Quadrant Capital Group LLC raised its position in Agree Realty by 224.6% in the 1st quarter. Quadrant Capital Group LLC now owns 1,993 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 1,379 shares during the period. Hanseatic Management Services Inc. purchased a new stake in Agree Realty in the 1st quarter worth about $157,000. Landsberg Bennett & Dubbaneh LLC purchased a new stake in Agree Realty in the 1st quarter worth about $202,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Agree Realty in the 1st quarter worth about $217,000. Hedge funds and other institutional investors own 95.38% of the company’s stock.

In other news, Director Farris G. Kalil sold 1,034 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $63.70, for a total transaction of $65,865.80. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $509,600. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Rakolta, Jr. bought 10,000 shares of Agree Realty stock in a transaction dated Wednesday, June 26th. The shares were bought at an average cost of $64.20 per share, for a total transaction of $642,000.00. Following the completion of the transaction, the director now owns 216,088 shares of the company’s stock, valued at approximately $13,872,849.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 10,800 shares of company stock worth $695,777. Corporate insiders own 3.10% of the company’s stock.

Agree Realty stock traded up $0.66 during midday trading on Monday, reaching $67.69. The stock had a trading volume of 12,133 shares, compared to its average volume of 239,639. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.42 and a current ratio of 0.42. Agree Realty Co. has a 52-week low of $50.72 and a 52-week high of $70.25. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 3.75 and a beta of 0.06. The stock has a fifty day simple moving average of $65.80.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.29). The firm had revenue of $44.92 million during the quarter, compared to analysts’ expectations of $44.05 million. Agree Realty had a return on equity of 5.19% and a net margin of 39.76%. On average, equities analysts forecast that Agree Realty Co. will post 3.03 EPS for the current fiscal year.

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

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