Menta Capital buys $4,064,472 stake in Agree Realty Corporation (ADC)

Agree Realty Corporation (ADC) : Menta Capital scooped up 14,633 additional shares in Agree Realty Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 83,942 shares of Agree Realty Corporation which is valued at $4,064,472.Agree Realty Corporation makes up approximately 0.53% of Menta Capital’s portfolio.

Other Hedge Funds, Including , Citadel Advisors reduced its stake in ADC by selling 36,074 shares or 81.84% in the most recent quarter. The Hedge Fund company now holds 8,005 shares of ADC which is valued at $387,602.Fort Washington Investment Advisors Inc Oh reduced its stake in ADC by selling 7,700 shares or 36.15% in the most recent quarter. The Hedge Fund company now holds 13,600 shares of ADC which is valued at $658,512. Agree Realty Corporation makes up approx 0.01% of Fort Washington Investment Advisors Inc Oh’s portfolio.Baird Financial Group boosted its stake in ADC in the latest quarter, The investment management firm added 3,157 additional shares and now holds a total of 187,207 shares of Agree Realty Corporation which is valued at $9,064,563. Agree Realty Corporation makes up approx 0.08% of Baird Financial Group’s portfolio.Teacher Retirement System Of Texas boosted its stake in ADC in the latest quarter, The investment management firm added 897 additional shares and now holds a total of 3,274 shares of Agree Realty Corporation which is valued at $159,018.

Agree Realty Corporation opened for trading at $47.53 and hit $48.44 on the upside on Monday, eventually ending the session at $47.93, with a gain of 1.12% or 0.53 points. The heightened volatility saw the trading volume jump to 91,777 shares. Company has a market cap of $1,133 M.

On the company’s financial health, Agree Realty Corporation reported $0.62 EPS for the quarter, based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus estimate of $0.62. The company had revenue of $21.84 million for the quarter, compared to analysts expectations of $21.44 million. The company’s revenue was up 26.9% compared to the same quarter last year.

Many Wall Street Analysts have commented on Agree Realty Corporation. Company shares were Reiterated by Wunderlich on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 54 from a previous price target of $45 .Stifel Initiated Agree Realty Corporation on Jul 7, 2016 to “Buy”, Price Target of the shares are set at $54.

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) of which it is the sole general partner and in which Agree Realty held a 98.06% interest as of December 31 2014. As of March 9 2015 the Company owned and operated a portfolio of 224 properties located in 38 states and it consists of approximately 4.6 million square feet of gross leasable space. Its portfolio includes 203 net lease properties which contributed approximately 91.6% of annualized base rent and six community shopping centers which generated the remaining 8.4% of annualized base rent. The Company’s primary tenant is Walgreens Boot Alliance Inc. which operates a chain of drugstores in the United States.

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