Wells Fargo & Company Issues Positive Forecast for Agree Realty (NYSE:ADC) Stock Price

Agree Realty (NYSE:ADC) had its target price upped by Wells Fargo & Company from $78.00 to $81.00 in a report released on Monday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the stock. Mizuho cut their price objective on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price target for the company. Barclays upgraded shares of Agree Realty from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $74.00 to $75.00 in a research note on Tuesday, March 4th. BTIG Research boosted their target price on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus decreased their price target on Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.85.

Agree Realty Price Performance

Shares of NYSE ADC opened at $76.97 on Monday. The firm has a market capitalization of $8.26 billion, a PE ratio of 43.24, a P/E/G ratio of 2.88 and a beta of 0.64. The business’s fifty day moving average price is $72.19 and its two-hundred day moving average price is $73.71. Agree Realty has a 1-year low of $54.78 and a 1-year high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.

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

Agree Realty Announces Dividend

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

Institutional Trading of Agree Realty

Institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in Agree Realty by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 153 shares during the period. Carmel Capital Partners LLC lifted its stake in shares of Agree Realty by 2.5% in the fourth quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust’s stock worth $486,000 after buying an additional 167 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Agree Realty by 17.3% during the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 168 shares during the period. Sequoia Financial Advisors LLC grew its stake in Agree Realty by 3.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the real estate investment trust’s stock valued at $323,000 after buying an additional 169 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in Agree Realty by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock worth $346,000 after acquiring an additional 170 shares during the period. 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.