In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Agree Realty Corp. (NYSE:ADC) reported that Vanguard Group Inc. has picked up 3,237,983 of common stock as of 2017-02-09.
The acquisition brings the aggregate amount owned by Vanguard Group Inc. to a total of 3,237,983 representing a 12.37% stake in the company.
For those not familiar with the company, 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 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. Its portfolio includes over 275 net lease properties and over three community shopping centers. The Company’s primary tenant is Walgreens Boot Alliance, Inc. (Walgreens), which operates a chain of drugstores in the United States. The Company’s business objective is to generate consistent shareholder returns by investing in and actively managing a diversified portfolio of retail properties net leased to industry tenants.
A glance at Agree Realty Corp (NYSE:ADC)’s key stats reveals a current market capitalization of 1.26 billion based on 26.16 million shares outstanding and a price at last close of $47.72 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-14, Silverman picked up 2,000 at a purchase price of $41.10. This brings their total holding to 26,113 as of the date of the filing.
On the sell side, the most recent transaction saw Dash unload 3,000 shares at a sale price of $33.50. This brings their total holding to 26,873.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Agree Realty Corp. (NYSE:ADC) as things move forward to see if its progress aligns with these transactions.
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