Agree Realty (NYSE:ADC) Upgraded at StockNews.com

Agree Realty (NYSE:ADC) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

A number of other analysts also recently commented on ADC. Stifel Nicolaus dropped their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Truist Financial increased their price objective on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their target price on Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. Finally, Mizuho decreased their price target on Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $78.53.

Agree Realty Stock Up 1.6 %

Shares of ADC stock opened at $70.64 on Wednesday. Agree Realty has a 1 year low of $54.28 and a 1 year high of $78.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The business’s fifty day moving average is $73.40 and its 200-day moving average is $72.36. The stock has a market cap of $7.31 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 3.66 and a beta of 0.64.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) 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 firm had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. During the same period in the previous year, the firm earned $1.00 earnings per share. Agree Realty’s revenue was up 12.8% on a year-over-year basis. Equities analysts expect that Agree Realty will post 4.12 earnings per share for the current fiscal year.

Institutional Trading of Agree Realty

A number of institutional investors have recently bought and sold shares of the company. FMR LLC increased its stake in shares of Agree Realty by 729.3% during the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock worth $168,648,000 after purchasing an additional 1,968,811 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings 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 worth $92,487,000 after purchasing an additional 1,214,437 shares in the last quarter. JPMorgan Chase & Co. increased its position in Agree Realty by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after buying an additional 990,362 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Agree Realty by 29.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock valued at $177,030,000 after buying an additional 534,545 shares in the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Agree Realty in the second quarter worth about $25,086,000. 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.