Agree Realty (NYSE:ADC) PT Raised to $80.00 at Royal Bank of Canada

Agree Realty (NYSE:ADC) had its price target increased by research analysts at Royal Bank of Canada from $79.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 6.62% from the company’s previous close.

A number of other brokerages also recently issued reports on ADC. Raymond James raised their price objective on Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 21st. UBS Group raised their price target on shares of Agree Realty from $72.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. BTIG Research boosted their price target on shares of Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. KeyCorp increased their price objective on shares of Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Finally, Stifel Nicolaus boosted their target price on shares of Agree Realty from $67.50 to $71.50 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.88.

Agree Realty Stock Up 0.0 %

NYSE:ADC opened at $75.03 on Thursday. Agree Realty has a one year low of $52.69 and a one year high of $77.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $7.55 billion, a PE ratio of 44.14, a P/E/G ratio of 2.47 and a beta of 0.61. The firm’s 50 day simple moving average is $74.53 and its 200 day simple moving average is $66.60.

Agree Realty (NYSE:ADC) last issued its quarterly 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 business had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a return on equity of 3.72% and a net margin of 32.08%. Agree Realty’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. On average, research analysts anticipate that Agree Realty will post 4.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ADC. MCF Advisors LLC acquired a new position in Agree Realty during the second quarter worth $26,000. Massmutual Trust Co. FSB ADV increased its position in shares of Agree Realty by 248.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 442 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Agree Realty by 232.0% during the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 798 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Agree Realty by 44.5% in the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 299 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Agree Realty by 125.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,403 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 782 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

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.