Deutsche Bank Aktiengesellschaft Begins Coverage on Agree Realty (NYSE:ADC)

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Agree Realty (NYSE:ADC - Free Report) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $88.00 price objective on the real estate investment trust's stock.

Other research analysts have also issued reports about the stock. Truist Financial lifted their price target on shares of Agree Realty from $77.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. BTIG Research lifted their target price on Agree Realty from $74.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Royal Bank of Canada increased their price target on Agree Realty from $79.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on Agree Realty from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Finally, Mizuho increased their target price on Agree Realty from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $76.89.

Agree Realty Stock Up 0.4 %

Agree Realty stock traded up $0.33 during midday trading on Wednesday, hitting $74.33. The stock had a trading volume of 650,706 shares, compared to its average volume of 945,764. The business has a fifty day moving average price of $75.27 and a 200 day moving average price of $70.60. Agree Realty has a 12 month low of $54.28 and a 12 month high of $78.39. The stock has a market cap of $7.69 billion, a P/E ratio of 41.06, a P/E/G ratio of 3.68 and a beta of 0.62. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

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

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.253 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $3.04 dividend on an annualized basis and a yield of 4.08%. Agree Realty's dividend payout ratio is presently 167.40%.

Institutional Investors Weigh In On Agree Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC bought a new position in Agree Realty during the 2nd quarter valued at $26,000. UMB Bank n.a. boosted its stake in Agree Realty by 44.5% during the third 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 in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Agree Realty during the third quarter worth about $75,000. Wilmington Savings Fund Society FSB acquired a new position in Agree Realty during the third quarter worth about $77,000. Finally, Headlands Technologies LLC raised its position in Agree Realty by 232.0% in the second 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 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.