Agree Realty Co. (NYSE:ADC) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Agree Realty Co. (NYSE:ADC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $78.53.

A number of research firms have weighed in on ADC. StockNews.com downgraded shares of Agree Realty from a "hold" rating to a "sell" rating in a research note on Tuesday. Truist Financial increased their target price on Agree Realty from $77.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. KeyCorp boosted their price target on Agree Realty from $68.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, October 4th. UBS Group upgraded Agree Realty from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $79.00 to $84.00 in a report on Monday. Finally, Mizuho decreased their target price on Agree Realty from $80.00 to $74.00 and set a "neutral" rating for the company in a report on Wednesday.

Agree Realty Trading Down 0.6 %

Shares of ADC stock traded down $0.39 during mid-day trading on Thursday, hitting $69.65. 813,826 shares of the company's stock were exchanged, compared to its average volume of 1,282,565. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of 38.48, a PEG ratio of 3.66 and a beta of 0.64. The stock has a 50-day simple moving average of $73.76 and a two-hundred day simple moving average of $72.06. Agree Realty has a fifty-two week low of $54.28 and a fifty-two week high of $78.39. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.61). The business had revenue of $154.33 million during the quarter, compared to analysts' expectations of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The firm's quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 EPS. Equities analysts expect that Agree Realty will post 4.12 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.253 dividend. This represents a $3.04 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Tuesday, December 31st. Agree Realty's dividend payout ratio (DPR) is 167.40%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its position in shares of Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust's stock valued at $168,648,000 after purchasing an additional 1,968,811 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in Agree Realty by 9,118.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust's stock valued at $92,487,000 after acquiring an additional 1,214,437 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Agree Realty by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock valued at $274,693,000 after acquiring an additional 990,362 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Agree Realty by 29.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust's stock valued at $177,030,000 after acquiring an additional 534,545 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new position in Agree Realty during the 2nd quarter worth $25,086,000. Hedge funds and other 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.