UBS Group Increases Agree Realty (NYSE:ADC) Price Target to $77.00

Agree Realty (NYSE:ADC) had its target price lifted by analysts at UBS Group from $72.00 to $77.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target would suggest a potential upside of 1.46% from the stock’s previous close.

A number of other brokerages have also issued reports on ADC. BTIG Research increased their price objective on Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Stifel Nicolaus raised their price target on Agree Realty from $67.50 to $71.50 and gave the company a “buy” rating in a report on Wednesday, July 24th. Raymond James upped their price objective on shares of Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 21st. Truist Financial raised their target price on shares of Agree Realty from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, KeyCorp upped their price target on shares of Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $73.04.

Agree Realty Price Performance

Shares of NYSE ADC opened at $75.89 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $7.64 billion, a PE ratio of 44.64, a P/E/G ratio of 2.47 and a beta of 0.61. Agree Realty has a 1-year low of $52.69 and a 1-year high of $77.30. The business’s fifty day moving average price is $74.10 and its two-hundred day moving average price is $65.82.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.51). The firm had revenue of $152.58 million during the quarter, compared to analyst estimates of $150.35 million. Agree Realty had a return on equity of 3.72% and a net margin of 32.08%. The firm’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. On average, research analysts expect that Agree Realty will post 4.11 EPS for the current year.

Institutional Investors Weigh In On Agree Realty

Several large investors have recently modified their holdings of ADC. MCF Advisors LLC purchased a new stake in shares of Agree Realty during the second quarter valued at $26,000. Massmutual Trust Co. FSB ADV raised its holdings in Agree Realty by 248.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 442 shares during the period. Headlands Technologies LLC lifted its stake in Agree Realty by 232.0% during the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 798 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of 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 worth $73,000 after buying an additional 299 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Agree Realty by 125.9% in the second quarter. GAMMA Investing LLC now owns 1,403 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 782 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

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.