Agree Realty (NYSE:ADC) Raised to “Buy” at UBS Group

Agree Realty (NYSE:ADC) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Monday,Benzinga reports. The brokerage presently has a $84.00 price target on the real estate investment trust’s stock, up from their previous price target of $79.00. UBS Group’s target price suggests a potential upside of 20.03% from the company’s current price.

A number of other equities analysts have also recently issued reports on ADC. Citizens Jmp downgraded Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Mizuho lifted their price objective on Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 target price on the stock. Barclays initiated coverage on shares of Agree Realty in a research report on Tuesday, December 17th. They set an “underweight” rating and a $76.00 target price for the company. Finally, JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.93.

Agree Realty Stock Down 0.6 %

ADC opened at $69.98 on Monday. Agree Realty has a fifty-two week low of $54.28 and a fifty-two week high of $78.39. The company has a market capitalization of $7.24 billion, a P/E ratio of 38.66, a P/E/G ratio of 3.66 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The firm’s fifty day moving average price is $73.87 and its two-hundred day moving average price is $72.08.

Agree Realty (NYSE:ADC) last posted its 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). The business had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS. On average, analysts anticipate that Agree Realty will post 4.12 EPS for the current year.

Hedge Funds Weigh In On Agree Realty

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 293 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Agree Realty by 44.5% during the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 299 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Agree Realty in the third quarter valued at approximately $75,000. Wilmington Savings Fund Society FSB bought a new position in Agree Realty in the third quarter valued at approximately $77,000. Finally, Headlands Technologies LLC grew its holdings in Agree Realty by 232.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 798 shares during the period. Institutional investors and hedge funds 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.