Hsbc Holdings PLC Has $27.57 Million Stake in Agree Realty Corporation $ADC

Hsbc Holdings PLC increased its position in Agree Realty Corporation (NYSE:ADC) by 23.5% in the 1st quarter, Holdings Channel reports. The firm owned 365,065 shares of the real estate investment trust’s stock after buying an additional 69,372 shares during the quarter. Hsbc Holdings PLC’s holdings in Agree Realty were worth $27,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of ADC. Clearstead Trust LLC increased its holdings in Agree Realty by 192.1% in the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 242 shares during the period. Wiser Advisor Group LLC bought a new position in shares of Agree Realty during the 3rd quarter worth about $32,000. Creative Financial Designs Inc. ADV boosted its position in shares of Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 192 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of Agree Realty by 163.8% during the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 285 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in Agree Realty by 178.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 546 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Insider Buying and Selling

In other Agree Realty news, CEO Joey Agree bought 13,295 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $75.41 per share, for a total transaction of $1,002,575.95. Following the transaction, the chief executive officer owned 675,105 shares in the company, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Greg Lehmkuhl bought 750 shares of Agree Realty stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $75.09 per share, for a total transaction of $56,317.50. Following the purchase, the director directly owned 34,465 shares in the company, valued at approximately $2,587,976.85. The trade was a 2.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 19,045 shares of company stock worth $1,415,943 over the last three months. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADC. Barclays dropped their price target on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 19th. Royal Bank Of Canada upped their price objective on Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Agree Realty in a report on Thursday, July 2nd. Huntington assumed coverage on Agree Realty in a research report on Wednesday, July 15th. They set an “outperform” rating and a $84.00 target price for the company. Finally, Mizuho decreased their price target on Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.81.

Agree Realty Stock Down 0.4%

Shares of ADC opened at $80.23 on Wednesday. The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of 43.37, a PEG ratio of 2.68 and a beta of 0.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The business’s fifty day moving average price is $75.80 and its two-hundred day moving average price is $76.02. Agree Realty Corporation has a 52 week low of $69.56 and a 52 week high of $82.08.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a return on equity of 3.95% and a net margin of 29.25%.The company had revenue of $211.49 million during the quarter, compared to the consensus estimate of $195.73 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. On average, analysts predict that Agree Realty Corporation will post 4.45 earnings per share for the current year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a $0.267 dividend. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, July 31st. Agree Realty’s dividend payout ratio (DPR) is presently 172.97%.

Agree Realty Company 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.