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

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

Other analysts also recently issued research reports about the company. Barclays assumed coverage on Agree Realty in a research report on Tuesday, December 17th. They issued an “underweight” rating and a $76.00 target price on the stock. BTIG Research boosted their price target on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and increased their price objective for the company from $79.00 to $84.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Agree Realty in a report on Wednesday, December 11th. They set a “buy” rating and a $88.00 target price on the stock. Finally, Robert W. Baird increased their price target on shares of Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Agree Realty Trading Up 2.1 %

NYSE:ADC opened at $72.17 on Wednesday. The company has a market cap of $7.47 billion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 2.41 and a beta of 0.64. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39. The business has a 50 day moving average price of $73.32 and a two-hundred day moving average price of $72.35. 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 (NYSE:ADC) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The business had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. During the same quarter in the previous year, the company posted $1.00 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts expect that Agree Realty will post 4.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lmcg Investments LLC bought a new stake in shares of Agree Realty in the fourth quarter valued at about $3,112,000. Ballentine Partners LLC acquired a new stake in Agree Realty in the 4th quarter worth about $384,000. MassMutual Private Wealth & Trust FSB raised its stake in Agree Realty by 34.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 230 shares in the last quarter. UMB Bank n.a. boosted its holdings in Agree Realty by 17.3% in the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 168 shares during the period. Finally, Community Bank of Raymore grew its position in shares of Agree Realty by 6.3% during the 4th quarter. Community Bank of Raymore now owns 44,005 shares of the real estate investment trust’s stock worth $3,100,000 after purchasing an additional 2,605 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

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.