Agree Realty (NYSE:ADC) Price Target Lowered to $74.00 at Barclays

Agree Realty (NYSE:ADC) had its price objective decreased by analysts at Barclays from $76.00 to $74.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s price objective would suggest a potential upside of 1.70% from the stock’s current price.

Other analysts have also issued reports about the company. Truist Financial boosted 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. Evercore ISI initiated coverage on Agree Realty in a research note on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $79.00 target price on shares of Agree Realty in a research note on Tuesday, January 28th. JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. Finally, UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.93.

Agree Realty Stock Up 0.3 %

ADC opened at $72.76 on Tuesday. 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 stock has a market cap of $7.53 billion, a price-to-earnings ratio of 40.20, a PEG ratio of 2.56 and a beta of 0.65. The company’s 50-day moving average price is $72.45 and its two-hundred day moving average price is $73.20. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ADC. Versant Capital Management Inc boosted its stake in shares of Agree Realty by 230.7% during the 4th 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. Financial Life Planners bought a new stake in Agree Realty during the 4th quarter valued at approximately $44,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 230 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 worth $73,000 after acquiring an additional 299 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of Agree Realty in the 3rd quarter valued at approximately $75,000. 97.83% of the stock is currently owned by institutional investors.

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.