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 fourteen analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $78.18.

Several brokerages recently issued reports on ADC. UBS Group boosted their price target on shares of Agree Realty from $77.00 to $79.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Raymond James lifted their price target on Agree Realty from $70.00 to $81.00 and gave the company a "strong-buy" rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Agree Realty in a report on Wednesday. They set a "buy" rating and a $88.00 target price on the stock. Royal Bank of Canada upped their price objective on shares of Agree Realty from $79.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Finally, BTIG Research lifted their target price on shares of Agree Realty from $74.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, November 27th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. MCF Advisors LLC purchased a new stake in Agree Realty during the second quarter worth about $26,000. UMB Bank n.a. increased its stake in 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 during the period. Arcadia Investment Management Corp MI acquired a new position in Agree Realty during the 3rd quarter worth approximately $75,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Agree Realty during the 3rd quarter worth $77,000. Finally, Headlands Technologies LLC boosted its stake in shares of Agree Realty by 232.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 798 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company's stock.

Agree Realty Trading Up 1.4 %

ADC traded up $1.02 on Friday, hitting $74.66. 516,102 shares of the company were exchanged, compared to its average volume of 941,970. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. Agree Realty has a 12 month low of $54.28 and a 12 month high of $78.39. The firm has a fifty day simple moving average of $75.23 and a two-hundred day simple moving average of $70.92. The stock has a market capitalization of $7.73 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 3.66 and a beta of 0.62.

Agree Realty (NYSE:ADC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.03 by ($0.61). The business had revenue of $154.33 million for 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 revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. Sell-side analysts expect that Agree Realty will post 4.12 earnings per share for the current year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.253 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.04 annualized dividend and a dividend yield of 4.07%. Agree Realty's dividend payout ratio (DPR) is presently 167.40%.

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.