Agree Realty’s (ADC) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Agree Realty (NYSE:ADCGet Free Report)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $79.00 price target on the real estate investment trust’s stock. Royal Bank of Canada’s target price indicates a potential upside of 9.85% from the company’s current price.

A number of other equities research analysts also recently commented on ADC. Citizens Jmp downgraded Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Evercore ISI initiated coverage on Agree Realty in a report on Thursday, December 12th. They set an “outperform” rating and a $82.00 target price for the company. KeyCorp lifted their price target on Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Wells Fargo & Company reduced their price objective on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Mizuho dropped their target price on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.07.

View Our Latest Analysis on ADC

Agree Realty Stock Performance

Shares of ADC opened at $71.92 on Tuesday. 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 50 day moving average is $72.61 and its 200-day moving average is $73.06. Agree Realty has a 12-month low of $54.28 and a 12-month high of $78.39. The stock has a market capitalization of $7.44 billion, a P/E ratio of 39.73, a P/E/G ratio of 2.52 and a beta of 0.64.

Institutional Trading of Agree Realty

Several large investors have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in Agree Realty by 64.9% in the 2nd quarter. Sei Investments Co. now owns 56,829 shares of the real estate investment trust’s stock worth $3,520,000 after purchasing an additional 22,374 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Agree Realty by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 103,674 shares of the real estate investment trust’s stock worth $6,422,000 after buying an additional 382 shares during the last quarter. Algert Global LLC acquired a new position in Agree Realty in the 2nd quarter valued at $628,000. Creative Planning raised its holdings in Agree Realty by 86.8% in the 2nd quarter. Creative Planning now owns 56,819 shares of the real estate investment trust’s stock worth $3,519,000 after acquiring an additional 26,398 shares during the period. Finally, Pathway Financial Advisers LLC raised its holdings in Agree Realty by 3.2% in the 2nd quarter. Pathway Financial Advisers LLC now owns 13,319 shares of the real estate investment trust’s stock worth $824,000 after acquiring an additional 409 shares during the period. 97.83% of the stock is owned by institutional investors.

Agree Realty Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Agree Realty (NYSE:ADC)

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