Agree Realty (NYSE:ADC) Stock Rating Upgraded by StockNews.com

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

ADC has been the subject of several other research reports. Truist Financial boosted their target price on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Raymond James raised 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Agree Realty in a research report on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price objective for the company. BTIG Research raised their price objective on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company decreased their target price on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.18.

Agree Realty Trading Down 0.8 %

Shares of ADC stock opened at $74.05 on Tuesday. The stock has a fifty day simple moving average of $75.23 and a two-hundred day simple moving average of $70.92. Agree Realty has a 52-week low of $54.28 and a 52-week high of $78.39. The firm has a market capitalization of $7.67 billion, a PE ratio of 40.91, a PEG 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.

Agree Realty (NYSE:ADC) last posted its earnings results 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). The firm had revenue of $154.33 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $1.00 earnings per share. On average, analysts predict that Agree Realty will post 4.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Agree Realty

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its stake in shares of Agree Realty by 8.2% in the third quarter. Franklin Resources Inc. now owns 66,153 shares of the real estate investment trust’s stock worth $4,917,000 after acquiring an additional 5,039 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Agree Realty during the 3rd quarter worth $77,000. World Investment Advisors LLC bought a new stake in shares of Agree Realty in the 3rd quarter worth about $211,000. Geode Capital Management LLC raised its stake in shares of Agree Realty by 1.5% in the 3rd 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. Finally, Vestcor Inc bought a new position in shares of Agree Realty during the third quarter worth about $111,000. Institutional investors and hedge funds 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.