Agree Realty Co. (NYSE:ADC) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Agree Realty Co. (NYSE:ADC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $79.85.

Several research firms have commented on ADC. Wells Fargo & Company raised their price objective on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. StockNews.com upgraded Agree Realty from a "sell" rating to a "hold" rating in a report on Sunday, February 16th. JMP Securities lowered Agree Realty from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 17th. Mizuho lowered their price objective on shares of Agree Realty from $80.00 to $74.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Agree Realty in a research report on Wednesday, December 11th. They set a "buy" rating and a $88.00 target price on the stock.

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Agree Realty Trading Up 0.7 %

NYSE:ADC traded up $0.56 during trading hours on Tuesday, reaching $76.56. 765,519 shares of the company were exchanged, compared to its average volume of 952,021. Agree Realty has a 52-week low of $54.78 and a 52-week high of $78.39. The stock has a 50 day simple moving average of $73.80 and a 200 day simple moving average of $73.94. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 2.88 and a beta of 0.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.

Agree Realty (NYSE:ADC - Get Free Report) last issued 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 return on equity of 3.70% and a net margin of 30.66%. As a group, analysts predict that Agree Realty will post 4.27 EPS for the current year.

Agree Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a $0.253 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.04 dividend on an annualized basis and a yield of 3.97%. Agree Realty's dividend payout ratio (DPR) is 170.22%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ADC. Versant Capital Management Inc raised its position 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 acquiring an additional 293 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of Agree Realty during the fourth quarter worth $31,000. Headlands Technologies LLC lifted its position in shares of Agree Realty by 72.8% in the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock worth $39,000 after buying an additional 235 shares during the last quarter. Financial Life Planners acquired a new position in shares of Agree Realty in the 4th quarter valued at about $44,000. Finally, Quarry LP bought a new stake in shares of Agree Realty during the 4th quarter valued at about $52,000. 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.