Stifel Nicolaus Has Lowered Expectations for Agree Realty (NYSE:ADC) Stock Price

Agree Realty (NYSE:ADC) had its target price decreased by investment analysts at Stifel Nicolaus from $81.50 to $81.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 16.30% from the stock’s previous close.

Several other research firms have also recently weighed in on ADC. KeyCorp raised their price target on Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 4th. Truist Financial raised their price target on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JMP Securities cut Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Citizens Jmp cut Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and an average price target of $78.53.

Agree Realty Stock Performance

NYSE ADC opened at $69.65 on Tuesday. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 38.48, a price-to-earnings-growth ratio of 3.66 and a beta of 0.64. 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 business has a 50-day moving average price of $73.87 and a 200-day moving average price of $72.08. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39.

Agree Realty (NYSE:ADC) last released its quarterly earnings data 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 business had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. During the same period last year, the company earned $1.00 EPS. The business’s revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts predict that Agree Realty will post 4.12 EPS for the current fiscal year.

Institutional Trading of Agree Realty

Several large investors have recently added to or reduced their stakes in the company. Dana Investment Advisors Inc. boosted its stake in shares of Agree Realty by 0.6% in the second quarter. Dana Investment Advisors Inc. now owns 29,274 shares of the real estate investment trust’s stock worth $1,813,000 after buying an additional 170 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake 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 worth $427,000 after buying an additional 216 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Agree Realty by 0.4% in 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 buying an additional 224 shares during the last quarter. US Bancorp DE boosted its stake in shares of Agree Realty by 1.5% in the third quarter. US Bancorp DE now owns 17,130 shares of the real estate investment trust’s stock worth $1,290,000 after buying an additional 252 shares during the last quarter. Finally, Carmel Capital Partners LLC raised its holdings in Agree Realty by 4.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 6,727 shares of the real estate investment trust’s stock worth $507,000 after purchasing an additional 257 shares during the period. Hedge funds and other 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.