Agree Realty (NYSE:ADC) Given New $80.00 Price Target at Mizuho

Agree Realty (NYSE:ADC) had its price target hoisted by equities research analysts at Mizuho from $75.00 to $80.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price target indicates a potential upside of 4.37% from the stock’s current price.

ADC has been the topic of a number of other research reports. KeyCorp boosted their price objective on Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Royal Bank of Canada upped their target price on shares of Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. BTIG Research upped their price objective on Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Raymond James boosted their price target on shares of Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 21st. Finally, Truist Financial raised their price objective on shares of Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.58.

Agree Realty Stock Up 0.6 %

ADC opened at $76.65 on Thursday. The company has a market capitalization of $7.93 billion, a P/E ratio of 42.35, a P/E/G ratio of 3.10 and a beta of 0.61. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The firm’s fifty day moving average price is $75.00 and its two-hundred day moving average price is $68.30. Agree Realty has a fifty-two week low of $54.28 and a fifty-two week high of $77.47.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The company had revenue of $154.33 million during the quarter, compared to the consensus estimate of $152.83 million. During the same quarter last year, the company earned $1.00 earnings per share. The business’s revenue was up 12.8% on a year-over-year basis. On average, analysts anticipate that Agree Realty will post 4.11 EPS for the current year.

Hedge Funds Weigh In On Agree Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of ADC. MCF Advisors LLC bought a new position in shares of Agree Realty during the 2nd quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in Agree Realty by 248.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 442 shares during the last quarter. Headlands Technologies LLC boosted its position in Agree Realty by 232.0% during the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 798 shares during the period. UMB Bank n.a. increased its holdings in shares of Agree Realty by 44.5% in the third 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 during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of Agree Realty during the 3rd quarter worth about $75,000. 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.