UBS Group Boosts Agree Realty (NYSE:ADC) Price Target to $79.00

Agree Realty (NYSE:ADC) had its price target upped by equities research analysts at UBS Group from $77.00 to $79.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective points to a potential upside of 4.01% from the company’s previous close.

Several other equities analysts have also recently commented on ADC. BTIG Research boosted their target price on shares of Agree Realty from $65.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, August 12th. 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. Stifel Nicolaus lifted their price target on Agree Realty from $67.50 to $71.50 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Mizuho upped their price objective on Agree Realty from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Raymond James lifted their target price on Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.73.

Agree Realty Stock Up 0.5 %

Shares of ADC opened at $75.96 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $7.86 billion, a PE ratio of 41.96, a P/E/G ratio of 3.11 and a beta of 0.61. The firm’s 50 day moving average is $75.03 and its 200-day moving average is $68.48. Agree Realty has a 12 month low of $54.28 and a 12 month high of $77.47.

Agree Realty (NYSE:ADC) last released 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). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The company had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Agree Realty will post 4.12 EPS for the current year.

Institutional Trading of Agree Realty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MCF Advisors LLC bought a new stake in shares of Agree Realty in the 2nd quarter valued at about $26,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Agree Realty by 248.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 442 shares during the period. UMB Bank n.a. boosted its holdings in Agree Realty by 44.5% in the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 299 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Agree Realty during the 3rd quarter valued at approximately $75,000. Finally, Headlands Technologies LLC raised 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 purchasing an additional 798 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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.