Town & Country Bank & Trust CO dba First Bankers Trust CO Acquires 8,268 Shares of Agree Realty Corporation $ADC

Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 45.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,657 shares of the real estate investment trust’s stock after acquiring an additional 8,268 shares during the quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Agree Realty were worth $1,894,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Westwood Holdings Group Inc. acquired a new position in Agree Realty in the 2nd quarter worth about $65,376,000. Norges Bank bought a new position in Agree Realty in the 2nd quarter valued at approximately $65,030,000. Vanguard Group Inc. raised its holdings in Agree Realty by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 15,316,681 shares of the real estate investment trust’s stock valued at $1,119,037,000 after buying an additional 403,048 shares during the last quarter. State Street Corp grew its holdings in Agree Realty by 7.1% during the 2nd quarter. State Street Corp now owns 5,764,979 shares of the real estate investment trust’s stock worth $422,629,000 after acquiring an additional 381,438 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Agree Realty by 85.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 678,984 shares of the real estate investment trust’s stock valued at $48,235,000 after acquiring an additional 313,431 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. KeyCorp upped their price target on Agree Realty from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Wells Fargo & Company boosted their target price 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. Truist Financial dropped their price target on Agree Realty from $84.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Stifel Nicolaus set a $83.50 price objective on shares of Agree Realty in a report on Tuesday, November 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, January 21st. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.23.

Agree Realty Trading Up 1.1%

Shares of ADC opened at $71.88 on Friday. Agree Realty Corporation has a twelve month low of $68.98 and a twelve month high of $79.65. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. The stock has a market cap of $8.26 billion, a PE ratio of 42.04, a P/E/G ratio of 2.53 and a beta of 0.55. The business’s 50-day moving average price is $72.56 and its 200-day moving average price is $72.70.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a dividend of $0.262 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, January 30th. Agree Realty’s payout ratio is currently 183.63%.

Insider Buying and Selling

In other news, Chairman Richard Agree purchased 24,000 shares of the stock in a transaction on Friday, January 9th. The shares were acquired at an average price of $70.67 per share, for a total transaction of $1,696,080.00. Following the completion of the transaction, the chairman directly owned 159,855 shares of the company’s stock, valued at approximately $11,296,952.85. This trade represents a 17.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Peter Coughenour acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were purchased at an average cost of $69.80 per share, for a total transaction of $34,900.00. Following the completion of the acquisition, the chief financial officer owned 18,544 shares in the company, valued at $1,294,371.20. This represents a 2.77% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 39,500 shares of company stock worth $2,813,680. Corporate insiders own 1.80% of the company’s stock.

Agree Realty Profile

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.