Agree Realty (NYSE:ADC) Rating Lowered to “Hold” at Citizens Jmp

Agree Realty (NYSE:ADC) was downgraded by equities research analysts at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on ADC. Robert W. Baird upped their target price on Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. BTIG Research upped their price objective on shares of Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Tuesday. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Raymond James lifted their price objective on shares of Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.03.

Agree Realty Price Performance

Agree Realty stock opened at $70.62 on Tuesday. The firm has a market capitalization of $7.31 billion, a P/E ratio of 39.02, a PEG ratio of 3.66 and a beta of 0.62. Agree Realty has a one year low of $54.28 and a one year high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The business has a fifty day moving average price of $75.24 and a 200-day moving average price of $71.11.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS 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 during the quarter, compared to the consensus estimate of $152.83 million. During the same quarter in the prior year, the business earned $1.00 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities research analysts forecast that Agree Realty will post 4.12 EPS for the current year.

Institutional Trading of Agree Realty

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased 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 buying an additional 5,039 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Agree Realty in the 3rd quarter worth $77,000. World Investment Advisors LLC purchased a new position in shares of Agree Realty in the third quarter valued at about $211,000. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 30,377 shares during the last quarter. Finally, Vestcor Inc purchased a new stake in shares of Agree Realty during the third quarter worth about $111,000. Hedge funds and other 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.