Agree Realty (ADC) – Investment Analysts’ Weekly Ratings Changes

Agree Realty (NYSE: ADC) recently received a number of ratings updates from brokerages and research firms:

• 12/17/2024 – Agree Realty is now covered by analysts at Barclays PLC. They set an “underweight” rating and a $76.00 price target on the stock.
• 12/17/2024 – Agree Realty was downgraded by analysts at JMP Securities from an “outperform” rating to a “market perform” rating.
• 12/17/2024 – Agree Realty was downgraded by analysts at Citizens Jmp from a “strong-buy” rating to a “hold” rating.
• 12/17/2024 – Agree Realty was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 12/12/2024 – Agree Realty is now covered by analysts at Evercore ISI. They set an “outperform” rating and a $82.00 price target on the stock.
• 12/11/2024 – Agree Realty is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “buy” rating and a $88.00 price target on the stock.
• 12/9/2024 – Agree Realty was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/27/2024 – Agree Realty had its price target raised by analysts at BTIG Research from $74.00 to $78.00. They now have a “buy” rating on the stock.
• 11/22/2024 – Agree Realty was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/14/2024 – Agree Realty was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/14/2024 – Agree Realty had its price target raised by analysts at UBS Group AG from $77.00 to $79.00. They now have a “neutral” rating on the stock.
• 11/14/2024 – Agree Realty had its price target raised by analysts at Mizuho from $75.00 to $80.00. They now have a “neutral” rating on the stock.
• 11/4/2024 – Agree Realty had its price target lowered by analysts at Wells Fargo & Company from $80.00 to $79.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – Agree Realty had its price target raised by analysts at Truist Financial Co. from $77.00 to $80.00. They now have a “buy” rating on the stock.
• 10/29/2024 – Agree Realty had its price target raised by analysts at Robert W. Baird from $67.00 to $76.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – Agree Realty had its price target raised by analysts at Royal Bank of Canada from $79.00 to $80.00. They now have an “outperform” rating on the stock.

Agree Realty Trading Down 1.7 %

Shares of ADC opened at $69.44 on Friday. Agree Realty Co. has a twelve month low of $54.28 and a twelve month high of $78.39. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $75.10 and its 200-day simple moving average is $71.09. The company has a market cap of $7.19 billion, a P/E ratio of 38.36, a P/E/G ratio of 3.66 and a beta of 0.62.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.61). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. During the same period last year, the company earned $1.00 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts expect that Agree Realty Co. will post 4.12 EPS for the current year.

Agree Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.253 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.04 annualized dividend and a dividend yield of 4.37%. Agree Realty’s dividend payout ratio is currently 167.40%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC bought a new position in shares of Agree Realty during the 2nd quarter worth approximately $26,000. UMB Bank n.a. increased 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 valued at $73,000 after purchasing an additional 299 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Agree Realty in the third quarter worth about $75,000. Wilmington Savings Fund Society FSB acquired a new position in Agree Realty in the third quarter valued at approximately $77,000. Finally, Headlands Technologies LLC increased its holdings in shares of Agree Realty by 232.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 798 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

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.