Barclays Lowers Agree Realty (NYSE:ADC) Price Target to $74.00

Agree Realty (NYSE:ADC) had its target price cut by investment analysts at Barclays from $76.00 to $74.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s target price points to a potential upside of 1.54% from the stock’s previous close.

ADC has been the subject of a number of other reports. Mizuho cut their price objective on Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BTIG Research lifted their price target on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. 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. Wells Fargo & Company dropped their target price on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Robert W. Baird upped their price target on Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and an average price target of $78.93.

Agree Realty Trading Up 0.6 %

Shares of ADC stock opened at $72.88 on Tuesday. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 40.26, a PEG ratio of 2.56 and a beta of 0.65. The company’s 50-day moving average price is $72.19 and its 200-day moving average price is $73.29. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in Agree Realty by 230.7% in the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 293 shares in the last quarter. Financial Life Planners acquired a new position in shares of Agree Realty in the 4th quarter valued at $44,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Agree Realty by 34.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 230 shares during the last quarter. UMB Bank n.a. raised its stake in Agree Realty by 44.5% during 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 in the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new stake in Agree Realty during the 3rd quarter worth $75,000. Hedge funds and other institutional investors 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.