Victory Capital Management Invests $3.92 Million in Agree Realty Co
August 10, 2023
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Victory Capital Management Inc. recently announced a stock position worth $3.92 million in Agree Realty ($NYSE:ADC) Co, a publicly traded real estate investment trust. Agree Realty Co owns, operates, and develops a diversified portfolio of retail properties throughout the United States. The company focuses on owning, developing, and acquiring single-tenant, net-leased properties situated on well-located sites with national and regional tenants. Agree Realty Co also offers financing options through its wholly owned subsidiary, Agree Capital Corporation.
The investment from Victory Capital Management Inc. is a testament to the success of Agree Realty Co. The company has long been recognized for its industry-leading portfolio and exceptional financial returns, and the investment from Victory Capital Management further highlights the company’s commitment to its investors. With the addition of Victory Capital Management’s new position, Agree Realty Co continues to solidify its position as one of the leading names in the real estate industry.
Share Price
On Monday, AGREE REALTY Co. experienced a small yet positive change in their stock price, opening at $64.5 and closing at $64.9, up 0.4% from the previous day’s closing price of $64.6. It appears that this investment was well-received by investors, as the stock price saw a slight increase on the market. This is a promising sign for the company, as its financials may be bolstered by Victory Capital Management Inc.’s investment. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Agree Realty. More…
| Total Revenues | Net Income | Net Margin |
| 483.11 | 155.02 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Agree Realty. More…
| Operations | Investing | Financing |
| 395.76 | -1.46k | 1.05k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Agree Realty. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.27k | 2.29k | 51.52 |
Key Ratios Snapshot
Some of the financial key ratios for Agree Realty are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 48.6% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
At GoodWhale, we’ve been analyzing AGREE REALTY‘s wellbeing and have produced the following results. Our Risk Rating has placed AGREE REALTY as a medium risk investment in terms of financial and business aspects. Upon further investigation, we’ve detected 3 risk warnings in their balance sheet, cashflow statement and financial journal. To access these findings, you can register on our website GoodWhale.com and take a closer look at AGREE REALTY’s financial situation. More…
Peers
The company was founded in 1993 and is headquartered in Bloomfield Hills, Michigan. Agree Realty Corporation’s competitors include CT Real Estate Investment Trust, Vornado Realty Trust, and Slate Grocery REIT.
– CT Real Estate Investment Trust ($TSX:CRT.UN)
H&R REIT is a real estate investment trust that owns, operates, and develops a portfolio of office, retail, industrial, and residential properties. The company has a market cap of $3.62 billion as of 2022. H&R REIT’s portfolio includes office properties in Toronto, Vancouver, and Calgary; retail properties in Toronto, Vancouver, Calgary, and Montreal; and industrial properties in Toronto and Vancouver.
– Vornado Realty Trust ($NYSE:VNO)
Vornado Realty Trust is a publicly traded real estate investment trust (REIT) based in New York City. The company was founded in 1960 and today owns, manages, and operates a diversified portfolio of real estate assets across the United States. Vornado’s portfolio includes office buildings, retail space, hotels, and residential properties. The company’s market cap as of 2022 is 4.45 billion dollars.
– Slate Grocery REIT ($TSX:SGR.UN)
The company’s market capitalization is 860.51 million as of 2022. The company operates in the retail grocery industry. It owns and operates a portfolio of grocery store properties located across Canada.
Summary
Investors have taken an interest in Agree Realty, with Victory Capital Management recently announcing that it has maintained a $3.92 million stock position in the company. This is a notable development, as it indicates that Victory Capital Management has sufficient confidence in the company to have a large stake in its stock. Analysts are encouraged by the company’s past performance and its current position in the market.
Furthermore, Agree Realty’s dividend payout ratio is conservative, indicating that the company is well-positioned for long-term success. Investors should keep an eye on this stock as it has potential for further growth.
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