Agree Realty Co. (NYSE:ADC) Receives Consensus Rating of “Moderate Buy” from Analysts

Agree Realty Co. (NYSE:ADC) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $78.93.

ADC has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft started coverage on Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price objective on the stock. Truist Financial raised their target price on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays decreased their price objective on shares of Agree Realty from $76.00 to $74.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Finally, UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $79.00 to $84.00 in a research note on Monday, January 6th.

Hedge Funds Weigh In On Agree Realty

Several hedge funds have recently added to or reduced their stakes in ADC. CIBC Asset Management Inc raised its position in shares of Agree Realty by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 153 shares during the period. Carmel Capital Partners LLC increased its stake in Agree Realty by 2.5% in the fourth quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust’s stock valued at $486,000 after purchasing an additional 167 shares in the last quarter. UMB Bank n.a. raised its holdings in Agree Realty by 17.3% in the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 168 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Agree Realty by 3.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 169 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Agree Realty by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock valued at $346,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Trading Down 0.2 %

Shares of ADC stock opened at $72.92 on Monday. The company has a market capitalization of $7.55 billion, a P/E ratio of 40.29, a P/E/G ratio of 2.87 and a beta of 0.65. Agree Realty has a 12-month low of $54.28 and a 12-month 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 firm has a 50-day moving average price of $72.03 and a 200 day moving average price of $73.42.

Agree Realty Announces Dividend

The business also recently disclosed a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.253 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 4.2%. Agree Realty’s dividend payout ratio (DPR) is presently 167.40%.

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.