Agree Realty (NYSE:ADC) Rating Increased to Hold at StockNews.com

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

ADC has been the topic of several other research reports. Robert W. Baird raised their target price on shares of Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Royal Bank of Canada lowered their price objective on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Truist Financial raised their price objective on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BTIG Research lifted their price target on Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Citizens Jmp downgraded Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and an average target price of $79.62.

Agree Realty Price Performance

ADC opened at $70.98 on Friday. The firm has a market cap of $7.35 billion, a P/E ratio of 39.21, a PEG ratio of 2.87 and a beta of 0.65. Agree Realty has a fifty-two week low of $54.28 and a fifty-two week high of $78.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a 50-day moving average of $71.64 and a 200 day moving average of $73.52.

Agree Realty (NYSE:ADC) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. On average, research analysts expect that Agree Realty will post 4.13 EPS for the current year.

Institutional Investors Weigh In On Agree Realty

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