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

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

Other equities analysts also recently issued research reports about the company. UBS Group increased their price target on Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Raymond James raised their target price on shares of Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 21st. Mizuho lifted their target price on shares of Agree Realty from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. KeyCorp upped 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. Finally, Truist Financial raised their price target on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $75.73.

Agree Realty Stock Down 0.9 %

ADC stock opened at $76.45 on Friday. The firm has a market cap of $7.91 billion, a PE ratio of 42.22, a PEG ratio of 3.13 and a beta of 0.61. Agree Realty has a 1 year low of $54.28 and a 1 year high of $77.58. The company has a fifty day simple moving average of $75.10 and a 200 day simple moving average of $69.13. 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 (NYSE:ADC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). The company had revenue of $154.33 million during the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. Agree Realty’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. Sell-side analysts anticipate that Agree Realty will post 4.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Agree Realty

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Agree Realty by 1.5% during the third quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust’s stock valued at $156,327,000 after purchasing an additional 30,377 shares in the last quarter. Vestcor Inc acquired a new position in Agree Realty during the third quarter worth $111,000. Barclays PLC lifted its holdings in shares of Agree Realty by 129.4% during the third quarter. Barclays PLC now owns 239,783 shares of the real estate investment trust’s stock valued at $18,062,000 after acquiring an additional 135,274 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Agree Realty by 2.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 132,880 shares of the real estate investment trust’s stock valued at $10,010,000 after purchasing an additional 2,930 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Agree Realty in the 3rd quarter worth about $901,000. Institutional investors own 97.83% of the company’s stock.

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.