BlackRock Amends Agree Realty Stake to 9.9% as of Dec 31, 2023
Ticker: ADC-PA · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 917251
| Field | Detail |
|---|---|
| Company | Agree Realty Corp (ADC-PA) |
| Form Type | SC 13G/A |
| Filed Date | Jan 23, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, real-estate, passive-investing
TL;DR
**BlackRock still a major holder of Agree Realty, owning 9.9% as of year-end!**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, disclosing its ownership in Agree Realty Corp. As of December 31, 2023, BlackRock reported beneficial ownership of 10,039,088 shares of Agree Realty Corp.'s Common Stock, representing 9.9% of the company. This is an amendment to a previous filing, indicating a change in their holdings. This matters to investors because BlackRock is a major institutional investor, and changes in their stake can signal their confidence (or lack thereof) in Agree Realty Corp.'s future performance.
Why It Matters
Large institutional ownership by BlackRock can provide stability and investor confidence, but any significant reduction in their stake could signal concerns about the company's outlook.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and risk for the stock.
Analyst Insight
Investors should monitor future 13G/A filings from BlackRock Inc. for any significant changes in their 9.9% stake in Agree Realty Corp., as large institutional movements can influence stock price and sentiment.
Key Numbers
- 10,039,088 — Shares Beneficially Owned (This is the total number of Common Stock shares of Agree Realty Corp. that BlackRock Inc. reported owning.)
- 9.9% — Percentage of Class (This represents BlackRock Inc.'s significant stake in Agree Realty Corp., indicating their influence.)
- December 31, 2023 — Reporting Date (This is the snapshot date for the ownership data, providing the most recent disclosed holdings.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Agree Realty Corp. (company) — the subject company whose securities are being reported
- 10,039,088 (dollar_amount) — number of shares beneficially owned by BlackRock Inc.
- 9.9% (dollar_amount) — percentage of class beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event which requires the filing
- January 23, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant stake in Agree Realty Corp. throughout 2024. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No: 3) by BlackRock Inc. to report its beneficial ownership of Common Stock in Agree Realty Corp. as of December 31, 2023, under Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., a company with the Central Index Key (CIK) 0001364742, headquartered at 50 Hudson Yards, New York, NY 10001.
What is the subject company and its CUSIP number?
The subject company is AGREE REALTY CORP, with the Central Index Key (CIK) 0000917251, and the CUSIP number for its Common Stock is 008492100.
How many shares of Agree Realty Corp. does BlackRock Inc. beneficially own, and what percentage does this represent?
As of December 31, 2023, BlackRock Inc. beneficially owns 10,039,088 shares of Agree Realty Corp.'s Common Stock, which represents 9.9% of the class.
When was this amendment filed and what was the date of the event requiring the filing?
This amendment was filed on January 23, 2024, and the date of the event which required the filing of this statement was December 31, 2023.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding AGREE REALTY CORP (ADC-PA).