Agree Realty (NYSE:ADC) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Agree Realty (NYSE:ADC) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $88.00 price objective on the real estate investment trust’s stock.

ADC has been the topic of a number of other research reports. Robert W. Baird raised their target price on Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Royal Bank of Canada upped their target price on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Mizuho raised their price target on shares of Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. BTIG Research upped their price objective on shares of Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, UBS Group boosted their target price on Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.18.

Agree Realty Stock Performance

Shares of ADC stock opened at $74.67 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 3.66 and a beta of 0.62. The firm has a 50 day moving average of $75.23 and a 200-day moving average of $70.76. Agree Realty has a 52 week low of $54.28 and a 52 week high of $78.39.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The firm had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. During the same period last year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities analysts forecast that Agree Realty will post 4.12 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.253 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.04 annualized dividend and a yield of 4.07%. Agree Realty’s dividend payout ratio is currently 167.96%.

Hedge Funds Weigh In On Agree Realty

Several hedge funds have recently bought and sold shares of the company. MCF Advisors LLC purchased a new stake in Agree Realty in the 2nd quarter worth approximately $26,000. Headlands Technologies LLC raised its position in shares of Agree Realty by 232.0% in the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 798 shares in the last quarter. UMB Bank n.a. increased its stake in Agree Realty by 44.5% in the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 299 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Agree Realty in the 3rd quarter valued at about $75,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Agree Realty during the 3rd quarter valued at about $77,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Company Profile

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.