Agree Realty (NYSE:ADC) Raised to “Buy” at UBS Group

Agree Realty (NYSE:ADC) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a $84.00 target price on the real estate investment trust’s stock, up from their prior target price of $79.00. UBS Group’s target price points to a potential upside of 19.32% from the company’s previous close.

Several other research analysts have also weighed in on ADC. JMP Securities lowered Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. KeyCorp upped their price objective on shares of Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 4th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. BTIG Research upped their price target on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Barclays began coverage on Agree Realty in a research note on Tuesday, December 17th. They issued an “underweight” rating and a $76.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and a consensus price target of $78.37.

Agree Realty Trading Up 0.1 %

ADC stock traded up $0.07 during trading on Monday, hitting $70.40. The company had a trading volume of 304,575 shares, compared to its average volume of 467,495. The stock has a market cap of $7.29 billion, a PE ratio of 38.90, a PEG ratio of 3.66 and a beta of 0.64. The business has a 50-day moving average of $74.02 and a 200-day moving average of $71.88. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Agree Realty has a one year low of $54.28 and a one year high of $78.39.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS 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 firm had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. During the same period in the prior year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts predict that Agree Realty will post 4.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agree Realty

Several institutional investors have recently added to or reduced their stakes in ADC. Versant Capital Management Inc raised its holdings in Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 293 shares during the period. Headlands Technologies LLC increased its stake in Agree Realty by 232.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 798 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Agree Realty by 44.5% during the 3rd 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 bought a new position in shares of Agree Realty in the third quarter worth approximately $75,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Agree Realty during the 3rd quarter worth $77,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

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.