Agree Realty Co. (NYSE:ADC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Agree Realty Co. (NYSE:ADC) have received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $79.62.

Several equities research analysts have weighed in on ADC shares. Stifel Nicolaus dropped their price target on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. BTIG Research raised their target price on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Evercore ISI began coverage on shares of Agree Realty in a report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price target on the stock. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $79.00 to $84.00 in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Agree Realty in a research note on Wednesday, December 11th. They set a “buy” rating and a $88.00 target price on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ADC. Versant Capital Management Inc boosted its position in 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 valued at $30,000 after acquiring an additional 293 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in Agree Realty during the fourth quarter worth about $31,000. Headlands Technologies LLC grew its stake in shares of Agree Realty by 72.8% during 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 period. Financial Life Planners purchased a new position in Agree Realty in the fourth quarter valued at $44,000. Finally, Quarry LP acquired a new position in Agree Realty in the 4th quarter worth about $52,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Price Performance

Shares of Agree Realty stock opened at $73.66 on Friday. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 41.38, a price-to-earnings-growth ratio of 2.88 and a beta of 0.65. The company has a fifty day moving average of $71.46 and a 200-day moving average of $73.54. Agree Realty has a 52-week low of $54.28 and a 52-week high of $78.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. Equities research analysts expect that Agree Realty will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The firm also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.253 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a yield of 4.2%. Agree Realty’s payout ratio is 170.22%.

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.