Agree Realty (NYSE:ADC) Stock Rating Upgraded by StockNews.com

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

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada lowered their price objective on shares of Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Evercore ISI assumed coverage on shares of Agree Realty in a research report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 target price for the company. Truist Financial lifted their price objective on shares of Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $79.00 to $84.00 in a research report on Monday, January 6th. Finally, BTIG Research lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.62.

Agree Realty Trading Down 1.2 %

Shares of ADC stock opened at $70.98 on Friday. 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 company has a market capitalization of $7.35 billion, a P/E ratio of 39.21, 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 firm has a 50-day moving average price of $71.64 and a 200 day moving average price of $73.52.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. Research analysts forecast that Agree Realty will post 4.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ADC. CWM LLC lifted its position in shares of Agree Realty by 8.5% in the 3rd quarter. CWM LLC now owns 3,458 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 271 shares during the period. Creative Planning lifted its position in shares of Agree Realty by 7.8% during the 3rd quarter. Creative Planning now owns 61,267 shares of the real estate investment trust’s stock valued at $4,615,000 after acquiring an additional 4,448 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Agree Realty by 5.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,149 shares of the real estate investment trust’s stock valued at $1,970,000 after acquiring an additional 1,464 shares during the period. Blue Trust Inc. lifted its position in shares of Agree Realty by 18.6% during the 3rd quarter. Blue Trust Inc. now owns 3,123 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 489 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Agree Realty by 15.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,421 shares of the real estate investment trust’s stock valued at $333,000 after acquiring an additional 592 shares during the period. Institutional investors and hedge funds 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.