Agree Realty (NYSE:ADC) Lowered to "Sell" Rating by StockNews.com

Agree Realty (NYSE:ADC - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other research firms have also commented on ADC. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Agree Realty in a research note on Wednesday, December 11th. They set a "buy" rating and a $88.00 price objective for the company. Truist Financial increased their price target on shares of Agree Realty from $77.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. UBS Group raised shares of Agree Realty from a "neutral" rating to a "buy" rating and increased their price target for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. Stifel Nicolaus cut their price objective on shares of Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, Evercore ISI started coverage on Agree Realty in a report on Thursday, December 12th. They set an "outperform" rating and a $82.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.93.

Agree Realty Trading Down 0.3 %

Agree Realty stock traded down $0.24 during trading on Friday, reaching $72.58. The company had a trading volume of 1,051,476 shares, compared to its average volume of 855,399. 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 stock's 50 day moving average price is $71.97 and its two-hundred day moving average price is $73.45. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 40.10, a PEG ratio of 2.87 and a beta of 0.65.

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, topping analysts' consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. As a group, equities analysts expect that Agree Realty will post 4.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agree Realty

Several institutional investors and hedge funds have recently modified their holdings of ADC. FMR LLC lifted its stake in 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 acquiring an additional 1,968,811 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Agree Realty during the 4th quarter worth approximately $101,382,000. Pathway Financial Advisers LLC raised its stake in shares of Agree Realty by 9,118.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust's stock worth $92,487,000 after purchasing an additional 1,214,437 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock worth $274,693,000 after purchasing an additional 990,362 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of 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 worth $177,030,000 after purchasing an additional 534,545 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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.