Agree Realty (NYSE:ADC) Upgraded to "Hold" at StockNews.com

Agree Realty (NYSE:ADC - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts have also recently weighed in on ADC. Robert W. Baird raised their price target on Agree Realty from $67.00 to $76.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Raymond James raised their target price on shares of Agree Realty from $70.00 to $81.00 and gave the company a "strong-buy" rating in a research report on Wednesday, August 21st. BTIG Research lifted their price objective on shares of Agree Realty from $65.00 to $74.00 and gave the company a "buy" rating in a research report on Monday, August 12th. UBS Group increased their price target on shares of Agree Realty from $77.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada lifted their price objective on Agree Realty from $79.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $75.73.

Agree Realty Price Performance

Shares of NYSE ADC traded down $0.70 during midday trading on Friday, reaching $76.42. The company's stock had a trading volume of 609,200 shares, compared to its average volume of 963,392. The company has a 50 day moving average price of $75.10 and a 200 day moving average price of $69.01. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 42.61, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. 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 has a one year low of $54.28 and a one year high of $77.58.

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 for the quarter, missing analysts' consensus estimates of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The company had revenue of $154.33 million during the quarter, compared to analyst estimates of $152.83 million. During the same period in the prior year, the firm earned $1.00 EPS. Agree Realty's quarterly revenue was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Agree Realty will post 4.12 EPS for the current year.

Institutional Investors Weigh In On Agree Realty

Several institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC purchased a new position in shares of Agree Realty in the second quarter worth about $26,000. Massmutual Trust Co. FSB ADV lifted its stake in Agree Realty by 248.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 442 shares during the period. UMB Bank n.a. boosted its holdings in shares of 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 acquiring an additional 299 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Agree Realty in the third quarter worth $75,000. Finally, Headlands Technologies LLC raised its holdings in shares of Agree Realty by 232.0% during the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 798 shares during the last quarter. Institutional investors and hedge funds 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.