Agree Realty (NYSE:ADC) Stock Rating Upgraded by 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 on Tuesday.

Other research analysts have also issued reports about the company. UBS Group upped their price target on Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. KeyCorp increased their price target on shares of Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 4th. BTIG Research boosted their price objective on shares of Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Robert W. Baird lifted 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, Raymond James upped their price target on Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.03.

Agree Realty Stock Down 3.7 %

ADC opened at $70.62 on Tuesday. The firm has a market cap of $7.31 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 3.66 and a beta of 0.62. 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 business has a 50 day moving average price of $75.17 and a 200 day moving average price of $71.10. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39.

Agree Realty (NYSE:ADC) last posted its earnings results 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). The firm had revenue of $154.33 million during the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 earnings per share. Research analysts forecast that Agree Realty will post 4.12 EPS for the current year.

Hedge Funds Weigh In On Agree Realty

Several institutional investors have recently modified their holdings of ADC. Wealth Enhancement Advisory Services LLC bought a new stake in Agree Realty in the second quarter valued at approximately $564,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Agree Realty by 3.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,873 shares of the real estate investment trust’s stock valued at $612,000 after buying an additional 326 shares in the last quarter. Blue Trust Inc. raised its stake in Agree Realty by 8.8% during the 2nd 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 period. Raymond James & Associates raised its stake in Agree Realty by 11.9% during the 2nd quarter. Raymond James & Associates now owns 361,273 shares of the real estate investment trust’s stock worth $22,377,000 after buying an additional 38,311 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Agree Realty in the second quarter valued at about $200,000. 97.83% of the stock is currently 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.