Agree Realty (NYSE:ADC) Stock Price Expected to Rise, BTIG Research Analyst Says

Agree Realty (NYSE:ADC) had its price target hoisted by equities researchers at BTIG Research from $74.00 to $78.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective would suggest a potential upside of 0.45% from the stock’s previous close.

ADC has been the subject of a number of other reports. Truist Financial upped their price target on shares of Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. KeyCorp increased their target price on Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Raymond James upped their price target on Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 21st. Finally, Robert W. Baird raised 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. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.04.

Agree Realty Stock Up 0.9 %

Shares of ADC stock opened at $77.65 on Wednesday. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 3.10 and a beta of 0.61. 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 stock’s 50 day simple moving average is $75.22 and its 200 day simple moving average is $69.63. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share 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 analyst estimates of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. Agree Realty’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. As a group, research analysts predict that Agree Realty will post 4.12 EPS for the current year.

Institutional Trading of Agree Realty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADC. Dana Investment Advisors Inc. grew its holdings in shares of Agree Realty by 0.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 29,274 shares of the real estate investment trust’s stock worth $1,813,000 after purchasing an additional 170 shares during the last quarter. Capital Square LLC boosted its position in Agree Realty by 1.0% in the second quarter. Capital Square LLC now owns 17,995 shares of the real estate investment trust’s stock valued at $1,193,000 after buying an additional 179 shares in the last quarter. Blue Trust Inc. grew its stake in Agree Realty by 8.8% during the second quarter. Blue Trust Inc. now owns 2,634 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 213 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Agree Realty by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,895 shares of the real estate investment trust’s stock worth $427,000 after buying an additional 216 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Agree Realty by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 58,934 shares of the real estate investment trust’s stock valued at $4,438,000 after acquiring an additional 224 shares during the last quarter. Institutional investors 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.