Agree Realty (NYSE:ADC) Rating Lowered to “Sell” at StockNews.com

Agree Realty (NYSE:ADC) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Several other brokerages also recently issued reports on ADC. Citizens Jmp downgraded Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. 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 price objective on the stock. Robert W. Baird lifted their target price on shares of Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. KeyCorp upped their price target on shares of Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Finally, UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and upped their target price for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.07.

Agree Realty Stock Performance

Agree Realty stock opened at $72.98 on Friday. 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 company has a market cap of $7.55 billion, a P/E ratio of 40.32, a price-to-earnings-growth ratio of 2.52 and a beta of 0.64. Agree Realty has a fifty-two week low of $54.28 and a fifty-two week high of $78.39. The firm’s 50 day simple moving average is $72.53 and its 200-day simple moving average is $73.06.

Institutional Investors Weigh In On Agree Realty

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in Agree Realty by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 103,674 shares of the real estate investment trust’s stock valued at $6,422,000 after purchasing an additional 382 shares during the last quarter. Algert Global LLC bought a new position in shares of Agree Realty in the second quarter valued at approximately $628,000. Creative Planning boosted its holdings in shares of Agree Realty by 86.8% in the 2nd quarter. Creative Planning now owns 56,819 shares of the real estate investment trust’s stock worth $3,519,000 after acquiring an additional 26,398 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Agree Realty during the 2nd quarter worth approximately $1,235,000. Finally, Trust Co. of Toledo NA OH increased its holdings in Agree Realty by 10.6% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 5,863 shares of the real estate investment trust’s stock valued at $442,000 after purchasing an additional 563 shares in the last quarter. 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.