StockNews.com Downgrades Agree Realty (NYSE:ADC) to Sell

Agree Realty (NYSE:ADC) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Several other equities research analysts also recently commented on the company. Evercore ISI began coverage on Agree Realty in a report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price objective for the company. Stifel Nicolaus cut their price target on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research note on Tuesday. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. Mizuho raised their target price on shares of Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada lowered their price target on Agree Realty from $80.00 to $79.00 and set an “outperform” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $78.93.

Agree Realty Stock Down 0.6 %

ADC stock traded down $0.44 during midday trading on Tuesday, hitting $69.98. The company’s stock had a trading volume of 3,236,662 shares, compared to its average volume of 1,399,766. The company’s fifty day moving average price is $73.87 and its 200 day moving average price is $72.08. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39. 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 stock has a market capitalization of $7.24 billion, a P/E ratio of 38.66, a PEG ratio of 3.66 and a beta of 0.64.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.61). The company had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 EPS. As a group, equities research analysts predict that Agree Realty will post 4.12 EPS for the current year.

Institutional Trading of Agree Realty

A number of institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in Agree Realty by 230.7% in the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 293 shares in the last quarter. Headlands Technologies LLC increased its holdings in Agree Realty by 232.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 798 shares during the period. UMB Bank n.a. raised its position in shares of Agree Realty by 44.5% in the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 299 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Agree Realty during the 3rd quarter worth approximately $75,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Agree Realty during the 3rd quarter worth approximately $77,000. 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.