Shares of Agree Realty Co. (NYSE:ADC) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $66.39 and traded as high as $66.02. Agree Realty shares last traded at $66.01, with a volume of 6,777 shares changing hands.

Separately, Wells Fargo & Co set a $2,100.00 price target on shares of Amazon.com and gave the company a “buy” rating in a research report on Monday, March 18th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $66.33.

The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 3.71 and a beta of 0.08. The business’s fifty day simple moving average is $66.32.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.26). The company had revenue of $42.35 million for the quarter, compared to analysts’ expectations of $43.77 million. Agree Realty had a net margin of 38.49% and a return on equity of 5.33%. As a group, research analysts predict that Agree Realty Co. will post 3.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.49%. This is an increase from Agree Realty’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, June 27th. Agree Realty’s dividend payout ratio (DPR) is presently 80.00%.

In related news, Director Craig Erlich acquired 750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were acquired at an average cost of $67.47 per share, with a total value of $50,602.50. Following the completion of the acquisition, the director now directly owns 13,023 shares in the company, valued at approximately $878,661.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Rakolta, Jr. acquired 6,801 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $66.19 per share, for a total transaction of $450,158.19. Following the completion of the acquisition, the director now owns 206,088 shares of the company’s stock, valued at $13,640,964.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 17,551 shares of company stock worth $1,142,761. Insiders own 3.10% of the company’s stock.

Several large investors have recently bought and sold shares of ADC. FMR LLC lifted its stake in shares of Agree Realty by 172.7% in the fourth quarter. FMR LLC now owns 1,150,010 shares of the real estate investment trust’s stock worth $67,989,000 after buying an additional 728,368 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Agree Realty by 5.2% in the first quarter. BlackRock Inc. now owns 6,062,151 shares of the real estate investment trust’s stock worth $420,349,000 after buying an additional 298,272 shares in the last quarter. Norges Bank purchased a new position in shares of Agree Realty in the fourth quarter worth about $16,518,000. D. E. Shaw & Co. Inc. lifted its stake in shares of Agree Realty by 340.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 174,839 shares of the real estate investment trust’s stock worth $10,336,000 after buying an additional 135,148 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC purchased a new position in shares of Agree Realty in the fourth quarter worth about $4,073,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

About Agree Realty (NYSE:ADC)

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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