Agree Realty (NYSE:ADC) Raised to Hold at StockNews.com

Agree Realty (NYSE:ADC) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Other research analysts have also recently issued reports about the company. Mizuho raised their price objective on Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Robert W. Baird increased their price objective on Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Wells Fargo & Company reduced their target price on Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Truist Financial raised their price target on Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Raymond James upped their price objective on shares of Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.73.

Agree Realty Stock Up 0.1 %

ADC opened at $77.12 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. Agree Realty has a one year low of $54.28 and a one year high of $77.58. The firm has a market capitalization of $7.98 billion, a P/E ratio of 42.61, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. The company has a fifty day moving average price of $75.08 and a 200-day moving average price of $68.95.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The business had revenue of $154.33 million for the quarter, compared to analysts’ expectations of $152.83 million. During the same period in the previous year, the firm posted $1.00 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities research analysts expect that Agree Realty will post 4.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agree Realty

Hedge funds have recently modified their holdings of the business. Dana Investment Advisors Inc. lifted its position in shares of Agree Realty by 0.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 29,274 shares of the real estate investment trust’s stock valued at $1,813,000 after buying an additional 170 shares in the last quarter. Capital Square LLC boosted its holdings in Agree Realty by 1.0% in the 2nd quarter. Capital Square LLC now owns 17,995 shares of the real estate investment trust’s stock worth $1,193,000 after buying an additional 179 shares during the period. Blue Trust Inc. raised its holdings in Agree Realty by 8.8% during the second quarter. Blue Trust Inc. now owns 2,634 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 213 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Agree Realty by 3.2% in the second quarter. Commonwealth Equity Services LLC now owns 6,895 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 216 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Agree Realty by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 58,934 shares of the real estate investment trust’s stock worth $4,438,000 after purchasing an additional 224 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

About Agree Realty

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.