Insider Trading Report: Agree Realty Corporation (ADC)

Joey Agree, President and CEO of Agree Realty Corporation (ADC), recently picked up 1,560 shares. The buy increased his holdings by 0.3 percent, and came to a total purchase price of just over $100,000.

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  • That followed up on a buy he made the day before, for 1,749 shares at a cost of just under $112,000. Over the past three years, a number of company insiders have been buyers, with the last insider sale occurring back in June 2020.

    Overall, company insiders own 2 percent of shares.

    The real estate investment trust owns and operates a number of properties leased out to high-end retail clients. Shares have been a bit lackluster, with a slight dip over the past year. However, earnings have jumped 40 percent and revenue is up 28 percent over that same time, and the company has a 37 percent profit margin.

    Action to take: As a REIT, this is attractive to income investors. Shares currently yield 4.2 percent, and the dividend has been gradually increased over the past year. That’s a trend likely to continue, given the company’s portfolio and customer base.

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  • For traders, shares were in a downtrend until February, but appear to be heading up now. The July $70 calls, last going for about $175, can likely return mid double-digit profits or better in the coming months if the share price continues higher.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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