Wells Fargo & Company Raises Agree Realty (NYSE:ADC) Price Target to $81.00

Agree Realty (NYSE:ADC) had its target price hoisted by stock analysts at Wells Fargo & Company from $78.00 to $81.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 5.04% from the company’s current price.

A number of other brokerages also recently commented on ADC. Citizens Jmp downgraded shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Stifel Nicolaus decreased their price target on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research report on Sunday, February 16th. Evercore ISI started coverage on Agree Realty in a research report on Thursday, December 12th. They set an “outperform” rating and a $82.00 price objective for the company. Finally, Mizuho lowered their target price on Agree Realty from $80.00 to $74.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.85.

Agree Realty Stock Up 1.4 %

ADC traded up $1.10 on Monday, reaching $77.12. The company’s stock had a trading volume of 129,374 shares, compared to its average volume of 933,896. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 43.33, a P/E/G ratio of 2.88 and a beta of 0.64. Agree Realty has a fifty-two week low of $54.78 and a fifty-two week high of $78.39. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $72.05 and a two-hundred day moving average of $73.68.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, topping the consensus estimate of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. As a group, analysts forecast that Agree Realty will post 4.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Agree Realty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in shares of Agree Realty by 230.7% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 293 shares during the period. Bernard Wealth Management Corp. bought a new position in Agree Realty during the 4th quarter valued at $31,000. Headlands Technologies LLC increased its position in shares of Agree Realty by 72.8% during the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 235 shares during the period. Financial Life Planners acquired a new stake in shares of Agree Realty in the fourth quarter valued at $44,000. Finally, Quarry LP bought a new stake in Agree Realty in the fourth quarter worth about $52,000. 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.