Agree Realty (NYSE:ADC) Price Target Lowered to $74.00 at Barclays

Agree Realty (NYSE:ADC - Free Report) had its target price trimmed by Barclays from $76.00 to $74.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust's stock.

Other research analysts also recently issued reports about the stock. Mizuho lowered their price objective on shares of Agree Realty from $80.00 to $74.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Agree Realty in a research note on Wednesday, December 11th. They set a "buy" rating and a $88.00 price objective for the company. Robert W. Baird lifted their target price on Agree Realty from $67.00 to $76.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Evercore ISI initiated coverage on Agree Realty in a research note on Thursday, December 12th. They set an "outperform" rating and a $82.00 price target for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $79.00 price objective on shares of Agree Realty in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $78.93.

Agree Realty Stock Performance

Shares of ADC stock traded down $0.15 during trading hours on Tuesday, hitting $72.92. The stock had a trading volume of 578,908 shares, compared to its average volume of 853,276. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $7.55 billion, a PE ratio of 40.29, a PEG ratio of 2.56 and a beta of 0.65. The stock's 50 day moving average is $72.10 and its 200 day moving average is $73.29. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39.

Agree Realty Dividend Announcement

The business also recently declared a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.253 per share. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, February 28th. Agree Realty's payout ratio is currently 167.96%.

Hedge Funds Weigh In On Agree Realty

Hedge funds have recently bought and sold shares of the company. FMR LLC lifted 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 worth $168,648,000 after buying an additional 1,968,811 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Agree Realty during the 4th quarter worth approximately $101,382,000. Pathway Financial Advisers LLC boosted its holdings in shares of Agree Realty by 9,118.1% during 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 during the period. JPMorgan Chase & Co. grew its position in Agree Realty by 37.3% in 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 during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Agree Realty by 29.4% in 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 period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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.