StockNews.com Downgrades Agree Realty (NYSE:ADC) to Sell

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

Other equities research analysts also recently issued reports about the stock. Robert W. Baird raised their target price 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. BTIG Research raised their target price on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Royal Bank of Canada raised their target price on shares of Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Raymond James lifted their price target on shares of Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company decreased their price target on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Agree Realty has a consensus rating of “Moderate Buy” and an average target price of $76.04.

Agree Realty Price Performance

Shares of ADC stock traded down $0.26 during trading hours on Monday, reaching $74.46. The stock had a trading volume of 494,344 shares, compared to its average volume of 948,869. The stock’s fifty day simple moving average is $75.30 and its 200 day simple moving average is $70.50. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Agree Realty has a 12 month low of $54.28 and a 12 month high of $78.39. The firm has a market capitalization of $7.71 billion, a PE ratio of 41.14, a PEG ratio of 3.68 and a beta of 0.62.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 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 firm had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. During the same quarter last year, the business posted $1.00 earnings per share. Agree Realty’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Agree Realty will post 4.12 EPS for the current year.

Institutional Trading of Agree Realty

Several large investors have recently added to or reduced their stakes in ADC. MCF Advisors LLC bought a new stake in Agree Realty in the second quarter valued at $26,000. Headlands Technologies LLC boosted its holdings in Agree Realty by 232.0% in the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 798 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Agree Realty by 44.5% during the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 299 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Agree Realty during the 3rd quarter valued at $75,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Agree Realty during the 3rd quarter valued at $77,000. 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.