Agree Realty (NYSE:ADC) Downgraded to “Sell” Rating by StockNews.com

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

ADC has been the subject of several other reports. Mizuho dropped their target price 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. UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and raised their price objective for the company from $79.00 to $84.00 in a research note on Monday, January 6th. Wells Fargo & Company cut their target price on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Robert W. Baird raised their price target on shares of Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Barclays cut their price objective on Agree Realty from $76.00 to $74.00 and set an “underweight” rating on the stock in a research report on Tuesday. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.93.

Agree Realty Trading Down 0.2 %

ADC opened at $72.92 on Friday. Agree Realty has a 52 week low of $54.28 and a 52 week high of $78.39. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $72.10 and a 200-day simple moving average of $73.29. The firm has a market cap of $7.55 billion, a P/E ratio of 40.29, a P/E/G ratio of 2.56 and a beta of 0.65.

Institutional Investors Weigh In On Agree Realty

Several institutional investors have recently added to or reduced their stakes in ADC. Versant Capital Management Inc raised its holdings in Agree Realty by 230.7% during the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 293 shares in the last quarter. Financial Life Planners purchased a new position in shares of Agree Realty in the 4th quarter valued at $44,000. MassMutual Private Wealth & Trust FSB raised its stake in Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 230 shares in 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 purchased a new stake in Agree Realty in the third quarter valued at $75,000. Hedge funds and other institutional investors own 97.83% of the company’s stock.

About Agree Realty

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.