Agree Realty (NYSE:ADC) Upgraded at StockNews.com

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

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada cut their price target on shares of Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday. BTIG Research increased their price target on shares of Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Truist Financial raised their target price on shares of Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut their target price 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. Finally, Evercore ISI started coverage on shares of Agree Realty in a research note on Thursday, December 12th. They issued an “outperform” rating and a $82.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.62.

Agree Realty Stock Performance

Shares of ADC opened at $70.98 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.87 and a beta of 0.65. The company’s 50 day simple moving average is $71.71 and its 200 day simple moving average is $73.49. Agree Realty has a 1 year low of $54.28 and a 1 year high of $78.39.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. On average, sell-side analysts predict that Agree Realty will post 4.13 EPS for the current year.

Institutional Trading of Agree Realty

Several hedge funds have recently bought and sold shares of ADC. Versant Capital Management Inc raised its position in shares of Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 293 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of Agree Realty in the 4th quarter worth approximately $31,000. Headlands Technologies LLC grew its stake in shares of Agree Realty by 72.8% in the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 235 shares during the last quarter. Financial Life Planners acquired a new position in shares of Agree Realty in the 4th quarter worth approximately $44,000. Finally, Quarry LP acquired a new position in shares of Agree Realty in the 4th quarter worth approximately $52,000. 97.83% of the stock is currently owned by institutional investors.

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.