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 research note issued on Monday,Benzinga reports. The brokerage currently has a $84.00 target price on the real estate investment trust’s stock, up from their previous target price of $79.00. UBS Group’s price target suggests a potential upside of 19.32% from the company’s current price.

A number of other equities analysts have also recently commented on ADC. JMP Securities cut Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Truist Financial boosted their target price on Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citizens Jmp downgraded shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. KeyCorp raised their target price on shares of Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Finally, Barclays assumed coverage on shares of Agree Realty in a report on Tuesday, December 17th. They issued an “underweight” rating and a $76.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.37.

Agree Realty Stock Up 0.1 %

NYSE:ADC traded up $0.07 during trading hours on Monday, reaching $70.40. 304,575 shares of the stock were exchanged, compared to its average volume of 467,495. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39. The stock has a market cap of $7.29 billion, a PE ratio of 38.90, a PEG ratio of 3.66 and a beta of 0.64. The firm has a 50 day moving average of $74.02 and a 200 day moving average of $71.88.

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 return on equity of 3.77% and a net margin of 31.62%. The company had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. During the same period last year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts expect that Agree Realty will post 4.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Agree Realty by 34.5% during the 4th 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 holdings in shares of Agree Realty by 230.7% during the fourth 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. increased its stake in shares of Agree Realty by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after buying an additional 990,362 shares during the period. Franklin Resources Inc. raised its holdings in Agree Realty by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 66,153 shares of the real estate investment trust’s stock valued at $4,917,000 after buying an additional 5,039 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Agree Realty during the 3rd quarter worth approximately $77,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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.