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

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

Several other research firms have also commented on ADC. Mizuho boosted their price target on shares of Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Robert W. Baird boosted their price objective on shares of Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. BTIG Research raised their price objective on Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. UBS Group boosted their price target on Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, KeyCorp upped their price target on shares of Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.73.

Agree Realty Trading Up 0.1 %

NYSE ADC opened at $77.12 on Friday. Agree Realty has a 12 month low of $54.28 and a 12 month high of $77.58. The company’s 50-day moving average price is $75.08 and its 200-day moving average price is $68.95. The stock has a market cap of $7.98 billion, a PE ratio of 42.61, a PEG ratio of 3.14 and a beta of 0.61. 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 (NYSE:ADC) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.61). The company had revenue of $154.33 million for 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 was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. Equities research analysts forecast that Agree Realty will post 4.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. PGGM Investments acquired a new stake in shares of Agree Realty in the 2nd quarter worth $70,225,000. Virtu Financial LLC purchased a new position in Agree Realty in the first quarter worth approximately $599,000. AQR Capital Management LLC increased its stake in Agree Realty by 67.4% during the second quarter. AQR Capital Management LLC now owns 462,868 shares of the real estate investment trust’s stock worth $28,476,000 after acquiring an additional 186,285 shares during the last quarter. Walleye Trading LLC purchased a new stake in Agree Realty in the first quarter valued at $955,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Agree Realty during the 2nd quarter worth $5,915,000. 97.83% of the stock is owned by institutional investors and hedge funds.

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.