Agree Realty (NYSE:ADC) Stock Rating Lowered by StockNews.com

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

Several other equities analysts have also recently commented on the company. Raymond James boosted their target price on Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 21st. Truist Financial boosted their target price on Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. BTIG Research boosted their target price on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Robert W. Baird boosted their target price on Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, UBS Group boosted their target price on Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.04.

Agree Realty Stock Performance

NYSE:ADC opened at $74.00 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. Agree Realty has a 52-week low of $54.28 and a 52-week high of $78.39. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 3.68 and a beta of 0.62. The business’s fifty day moving average is $75.27 and its 200 day moving average is $70.60.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (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 company had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The business’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 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock worth $168,648,000 after acquiring an additional 1,968,811 shares in the last quarter. Pathway Financial Advisers LLC increased its position in Agree Realty by 9,118.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust’s stock valued at $92,487,000 after buying an additional 1,214,437 shares in the last quarter. PGGM Investments bought a new position in Agree Realty during the 2nd quarter valued at approximately $70,225,000. Daiwa Securities Group Inc. increased its position in Agree Realty by 55.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,815,511 shares of the real estate investment trust’s stock valued at $112,453,000 after buying an additional 650,921 shares in the last quarter. Finally, Leeward Investments LLC MA bought a new position in Agree Realty during the 2nd quarter valued at approximately $30,306,000. 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.