Agree Realty (NYSE:ADC) Stock Rating Upgraded by UBS Group

Agree Realty (NYSE:ADC) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a report released on Monday,Benzinga reports. The firm currently has a $84.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $79.00. UBS Group’s price target would indicate a potential upside of 20.03% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Evercore ISI initiated coverage on shares of Agree Realty in a research report on Thursday, December 12th. They set an “outperform” rating and a $82.00 price objective on the stock. Barclays began coverage on shares of Agree Realty in a report on Tuesday, December 17th. They set an “underweight” rating and a $76.00 price target on the stock. BTIG Research lifted their price objective on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Mizuho upped their target price on Agree Realty from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Agree Realty in a report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.93.

Agree Realty Trading Down 0.6 %

NYSE ADC opened at $69.98 on Monday. The firm’s 50 day moving average price is $73.87 and its two-hundred day moving average price is $72.08. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 38.66, a PEG ratio of 3.66 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 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 (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). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. During the same period in the previous year, the firm posted $1.00 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts anticipate that Agree Realty will post 4.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Agree Realty by 34.5% in the fourth quarter. GAMMA Investing LLC now owns 2,897 shares of the real estate investment trust’s stock worth $204,000 after acquiring an additional 743 shares during the last quarter. Versant Capital Management Inc grew its position in Agree Realty by 230.7% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 293 shares during the last quarter. JPMorgan Chase & Co. grew its position in Agree Realty by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after purchasing an additional 990,362 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Agree Realty by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 66,153 shares of the real estate investment trust’s stock worth $4,917,000 after purchasing an additional 5,039 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Agree Realty during the third quarter valued at about $77,000. 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.