Pensionfund Sabic Lowers stake in Agree Realty Corporation (ADC)

Agree Realty Corporation (ADC) : Pensionfund Sabic reduced its stake in Agree Realty Corporation by 49.9% during the most recent quarter end. The investment management company now holds a total of 10,540 shares of Agree Realty Corporation which is valued at $407,160 after selling 10,500 shares in Agree Realty Corporation according to a report filed by the company on Apr 4, 2016 with the SEC.Agree Realty Corporation makes up approximately 0.12% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Pensionfund Dsm Netherlands reduced its stake in ADC by selling 29,500 shares or 53.87% in the most recent quarter. The Hedge Fund company now holds 25,260 shares of ADC which is valued at $975,794. Agree Realty Corporation makes up approx 0.13% of Pensionfund Dsm Netherlands’s portfolio.

On the company’s financial health, Agree Realty Corporation reported $0.60 EPS for the quarter, based on the information available during the earnings call on Mar 3, 2016. Analyst had a consensus estimate of $0.60. The company had revenue of $19.15 million for the quarter, compared to analysts expectations of $18.31 million. The company’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS.

Many Wall Street Analysts have commented on Agree Realty Corporation. Company shares were Reiterated by Wunderlich on Mar 8, 2016 to “Buy”, Firm has raised the Price Target to $ 40.50 from a previous price target of $38 .

Agree Realty Corporation closed down -0.06 points or -0.16% at $38.63 with 88,885 shares getting traded on Monday. Post opening the session at $38.8, the shares hit an intraday low of $38.63 and an intraday high of $39.1 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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