Agree Realty (NYSE:ADC) Upgraded by StockNews.com to Hold Rating

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

ADC has been the subject of several other reports. Royal Bank of Canada raised their price target on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. BTIG Research lifted their price target on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Raymond James raised their price objective on Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 21st. Evercore ISI initiated coverage on Agree Realty in a research report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 target price on the stock. Finally, UBS Group increased their price target on Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.03.

Agree Realty Trading Down 3.7 %

Shares of NYSE:ADC opened at $70.62 on Tuesday. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 39.02, 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 has a 12 month low of $54.28 and a 12 month high of $78.39. The company’s fifty day simple moving average is $75.17 and its 200 day simple moving average is $71.10.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results 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). The firm had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 earnings per share. As a group, research analysts forecast that Agree Realty will post 4.12 EPS for the current fiscal year.

Institutional Trading of Agree Realty

Hedge funds have recently modified their holdings of the stock. Daiwa Securities Group Inc. raised its holdings in Agree Realty by 29.4% in the 3rd 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 acquiring an additional 534,545 shares during the period. FMR LLC increased its stake in shares of Agree Realty by 729.3% during the third 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 period. Geode Capital Management LLC lifted its holdings in Agree Realty by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust’s stock worth $156,327,000 after purchasing an additional 30,377 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Agree Realty by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust’s stock valued at $119,651,000 after purchasing an additional 57,354 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Agree Realty by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,522,014 shares of the real estate investment trust’s stock valued at $94,273,000 after buying an additional 76,818 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

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.