Agree Realty (NYSE:ADC) Rating Increased to Hold at StockNews.com

Agree Realty (NYSE:ADC) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

ADC has been the subject of a number of other reports. Royal Bank of Canada raised their target price on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Mizuho upped their price objective on shares of Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Truist Financial lifted their target price on shares of Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. KeyCorp upped their price target on Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. Finally, UBS Group raised their price objective on Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued 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 $78.18.

Agree Realty Trading Down 0.8 %

Agree Realty stock opened at $74.05 on Tuesday. The firm has a 50-day moving average price of $75.23 and a two-hundred day moving average price of $70.92. Agree Realty has a 52-week low of $54.28 and a 52-week high of $78.39. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 40.91, a PEG ratio of 3.66 and a beta of 0.62. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC) last issued 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 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 prior year, the firm earned $1.00 earnings per share. Agree Realty’s revenue for the quarter was up 12.8% compared to the same quarter last year. Sell-side analysts expect that Agree Realty will post 4.12 earnings per share for the current year.

Institutional Trading of Agree Realty

Several hedge funds and other institutional investors have recently modified their holdings of ADC. FMR LLC grew its holdings in Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock valued at $168,648,000 after buying an additional 1,968,811 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Agree Realty by 9,118.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust’s stock valued at $92,487,000 after buying an additional 1,214,437 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Agree Realty by 55.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,815,511 shares of the real estate investment trust’s stock valued at $112,453,000 after acquiring an additional 650,921 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of Agree Realty during the 2nd quarter valued at $25,086,000. Finally, Two Sigma Advisers LP grew its position in Agree Realty by 92.6% during the 3rd quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock worth $53,815,000 after acquiring an additional 343,400 shares during the last quarter. Institutional investors and hedge funds 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.