The stock of Agree Realty Corporation (NYSE:ADC) registered a decrease of 2.66% in short interest. ADC’s total short interest was 439,100 shares in September as published by FINRA. Its down 2.66% from 451,100 shares, reported previously. With 125,700 shares average volume, it will take short sellers 4 days to cover their ADC’s short positions. The short interest to Agree Realty Corporation’s float is 1.97%. About 157,721 shares traded hands or 17.80% up from the average. Agree Realty Corporation (NYSE:ADC) has risen 31.35% since February 8, 2016 and is uptrending. It has outperformed by 14.87% the S&P500.
Agree Realty Corporation is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The company has a market cap of $1.11 billion. The Firm operates through Agree Limited Partnership (the Operating Partnership), of which it is the sole general partner and in which Agree Realty holds an approximately 98.3% interest. It has a 22.42 P/E ratio. The Company’s portfolio consists of over 280 properties located in over 40 states and totaling approximately 5.2 million square feet of gross leasable area.
The institutional sentiment increased to 1.93 in Q2 2016. Its up 0.55, from 1.38 in 2016Q1. The ratio is positive, as 19 funds sold all Agree Realty Corporation shares owned while 39 reduced positions. 22 funds bought stakes while 90 increased positions. They now own 17.93 million shares or 21.42% more from 14.76 million shares in 2016Q1.
Philadelphia Financial Management Of San Francisco Llc holds 2.12% of its portfolio in Agree Realty Corporation for 191,333 shares. Harrison Street Securities Llc owns 7,184 shares or 1.13% of their US portfolio. Moreover, Mesirow Financial Investment Management has 1.01% invested in the company for 360,175 shares. The Florida-based Real Estate Management Services Llc has invested 1% in the stock. Insight Capital Research & Management Inc, a California-based fund reported 51,766 shares.
Out of 4 analysts covering Agree Realty Corp (NYSE:ADC), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $56 is the highest target while $36 is the lowest. The $45.75 average target is -0.89% below today’s ($46.16) stock price. Agree Realty Corp has been the topic of 7 analyst reports since October 28, 2015 according to StockzIntelligence Inc. Wunderlich maintained the stock on July 27 with “Buy” rating. Compass Point maintained the shares of ADC in a report on October 28 with “Buy” rating.
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