Stock Short Interest Filing: What’s Agree Realty Corporation (NYSE:ADC) Upside After This Short Interest Increase?

November 23, 2016 - By Marie Mckinney   ·   0 Comments

Stock Short Interest Filing: What's Agree Realty Corporation (NYSE:ADC) Upside After This Short Interest Increase?

The stock of Agree Realty Corporation (NYSE:ADC) registered an increase of 20.94% in short interest. ADC’s total short interest was 558,600 shares in November as published by FINRA. Its up 20.94% from 461,900 shares, reported previously. With 379,200 shares average volume, it will take short sellers 2 days to cover their ADC’s short positions. The short interest to Agree Realty Corporation’s float is 2.5%. About 14,929 shares traded hands. Agree Realty Corporation (NYSE:ADC) has risen 13.85% since April 21, 2016 and is uptrending. It has outperformed by 8.52% 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 $1.09 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 23.69 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.

Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q2. Its down 0.82, from 1.93 in 2016Q1. The ratio is negative, 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.
Dimensional Fund Advisors L P has 261,103 shares for 0.01% of their US portfolio. Thrivent For Lutherans has 0.01% invested in the company for 40,750 shares. Metropolitan Life New York has 0.01% invested in the company for 17,967 shares. Kbc Nv accumulated 6,264 shares or 0% of the stock. Teachers Insurance & Annuity Association Of America holds 0.05% of its portfolio in Agree Realty Corporation (NYSE:ADC) for 23,830 shares. Commercial Bank Of Mellon has invested 0.01% of its portfolio in Agree Realty Corporation (NYSE:ADC). Blackrock Japan Limited has invested 0% of its portfolio in Agree Realty Corporation (NYSE:ADC). Barclays Public Limited Co holds 0% or 2,048 shares in its portfolio. Mufg Americas Corporation last reported 0% of its portfolio in the stock. The Netherlands-based Robeco Institutional Asset Bv has invested 0.02% in Agree Realty Corporation (NYSE:ADC). State Street owns 513,577 shares or 0% of their US portfolio. Pub Sector Pension Inv Board reported 16,791 shares or 0.01% of all its holdings. Menta Limited Liability Company has 0.56% invested in the company for 83,942 shares. Brant Point Inv Ltd holds 0.55% of its portfolio in Agree Realty Corporation (NYSE:ADC) for 121,700 shares. Schwab Charles Mngmt accumulated 81,734 shares or 0% of the stock.

Insider Transactions: Since October 26, 2016, the stock had 2 insider buys, and 0 selling transactions for $652,200 net activity. Silverman Gene bought $82,200 worth of stock. The insider RAKOLTA JOHN JR bought $570,000.

Agree Realty Corporation (NYSE:ADC) Ratings Coverage

Out of 5 analysts covering Agree Realty Corp (NYSE:ADC), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Agree Realty Corp has been the topic of 8 analyst reports since October 28, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, May 6 by Wunderlich. The rating was initiated by FBR Capital on Wednesday, October 12 with “Outperform”. The firm earned “Buy” rating on Wednesday, July 27 by Wunderlich. Jefferies maintained it with “Buy” rating and $56 target price in Thursday, July 14 report. On Tuesday, May 31 the stock rating was maintained by Jefferies with “Buy”. As per Thursday, April 21, the company rating was initiated by Jefferies. The firm has “Buy” rating given on Wednesday, October 28 by Compass Point.

ADC Company Profile

Agree Realty Corporation (Agree Realty), incorporated on December 15, 1993, is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. 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. 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 Company’s portfolio includes approximately 275 net lease properties and over three community shopping centers, which range in size from 20,000 to 241,458 square feet of gross leasable area (GLA). The Company’s primary tenant is Walgreens Boot Alliance, Inc. (Walgreens), which operates a chain of drugstores in the United States.

More notable recent Agree Realty Corporation (NYSE:ADC) news were published by: Prnewswire.com which released: “Agree Realty Corporation Reports Third Quarter 2016 Results” on October 24, 2016, also Prnewswire.com with their article: “Agree Realty Announces Expanded $350 Million Credit Facility” published on November 10, 2016, Prnewswire.com published: “Agree Realty Announces Upsizing And Pricing Of Common Stock Offering” on October 26, 2016. More interesting news about Agree Realty Corporation (NYSE:ADC) were released by: Prnewswire.com and their article: “Agree Realty Corporation Announces Exercise Of Underwriters’ Overallotment …” published on October 31, 2016 as well as Prnewswire.com‘s news article titled: “Agree Realty Appoints Merrie S. Frankel to Board of Directors” with publication date: September 06, 2016.

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By Marie Mckinney


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