Manning & Napier Advisors LLC Has $4.81 Million Position in Agree Realty Corporation (ADC)

Manning & Napier Advisors LLC reduced its stake in Agree Realty Corporation (NYSE:ADC) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,800 shares of the real estate investment trust’s stock after selling 2,590 shares during the period. Manning & Napier Advisors LLC owned approximately 0.40% of Agree Realty Corporation worth $4,806,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ADC. BlackRock Inc. increased its position in shares of Agree Realty Corporation by 4,812.0% in the first quarter. BlackRock Inc. now owns 3,713,482 shares of the real estate investment trust’s stock valued at $178,099,000 after buying an additional 3,637,882 shares during the period. Vanguard Group Inc. increased its position in shares of Agree Realty Corporation by 1.9% in the first quarter. Vanguard Group Inc. now owns 3,298,645 shares of the real estate investment trust’s stock valued at $158,203,000 after buying an additional 60,662 shares during the period. State Street Corp increased its position in shares of Agree Realty Corporation by 9.8% in the first quarter. State Street Corp now owns 716,468 shares of the real estate investment trust’s stock valued at $34,363,000 after buying an additional 63,748 shares during the period. Bank of New York Mellon Corp increased its position in shares of Agree Realty Corporation by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 702,229 shares of the real estate investment trust’s stock valued at $33,679,000 after buying an additional 31,668 shares during the period. Finally, Edge Asset Management Inc. increased its position in shares of Agree Realty Corporation by 8.2% in the first quarter. Edge Asset Management Inc. now owns 452,069 shares of the real estate investment trust’s stock valued at $21,681,000 after buying an additional 34,360 shares during the period. Institutional investors own 81.78% of the company’s stock.

Shares of Agree Realty Corporation (NYSE ADC) traded up 0.06% on Friday, hitting $48.83. The stock had a trading volume of 150,914 shares. The stock has a market cap of $1.39 billion, a P/E ratio of 21.97 and a beta of 0.59. Agree Realty Corporation has a 12 month low of $41.01 and a 12 month high of $51.50. The firm has a 50 day moving average of $47.89 and a 200 day moving average of $47.72.

Agree Realty Corporation (NYSE:ADC) last released its earnings results on Monday, July 24th. The real estate investment trust reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.17. The firm had revenue of $28.10 million during the quarter, compared to analyst estimates of $27.66 million. Agree Realty Corporation had a return on equity of 8.23% and a net margin of 54.22%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. On average, equities analysts forecast that Agree Realty Corporation will post $1.87 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This story was first reported by BNB Daily and is the property of of BNB Daily. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.baseball-news-blog.com/2017/08/19/manning-napier-advisors-llc-sells-2590-shares-of-agree-realty-corporation-adc-updated-updated-updated.html.

ADC has been the topic of several research reports. BidaskClub upgraded shares of Agree Realty Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Stifel Nicolaus upped their price objective on Agree Realty Corporation from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Zacks Investment Research lowered Agree Realty Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Canaccord Genuity started coverage on Agree Realty Corporation in a research report on Tuesday, July 18th. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, Jefferies Group LLC restated a “hold” rating and issued a $50.00 price objective on shares of Agree Realty Corporation in a research report on Monday, April 24th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $51.89.

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)

Receive News & Ratings for Agree Realty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply