© Reuters. Cohen & Steers Inc. reduced stake in Agree Realty Corp
On the 31st of December, Cohen & Steers (NYSE:) Inc. sold 2 million Agree Realty Corp (NYSE:) shares for $132 million at an average price of $66.58 per share.
Shares of Agree Realty Corp are down -2.42% since the transaction.
Cohen & Steers Inc. ‘s holding in Agree Realty Corp decreased to about 5.3 million shares with the transaction.
Cohen & Steers Inc. first bought Agree Realty Corp stock in the second quarter of 2016.
Cohen & Steers Inc. also owns Public Storage (NYSE:), Simon Property Group Inc (NYSE:), Welltower Inc (NYSE:) and Essex Property Trust Inc (NYSE:).
Agree Realty Corp is its number nineteen position by number of shares and market value among real estate investment trusts stocks.
Other investors who also reduced their Agree Realty Corp shares include the T. Rowe Price Equity Income Fund, Rothschild Asset Management, and Waddell & Reed (NYSE:) Financial.
Contrary to Cohen & Steers Inc., California State Teachers Retirement System, Citigroup (NYSE:), and Manning & Napier Group added to ADC shares, while Bahl & Gaynor established new holdings in Agree Realty Corp.
Cohen & Steers Inc. has also recently reduced their share in Kilroy Realty Corp (NYSE:).
The total value of the shares sold is estimated at around $215 million.
Cohen & Steers Inc. also added to their share in CyrusOne Inc (NASDAQ:).
The total value of the shares bought is estimated at around $833 million.
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