Citizens Jmp Downgrades Agree Realty (NYSE:ADC) to Hold

Agree Realty (NYSE:ADC - Get Free Report) was downgraded by equities research analysts at Citizens Jmp from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Raymond James boosted their price objective 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. StockNews.com upgraded shares of Agree Realty from a "sell" rating to a "hold" rating in a report on Tuesday. Wells Fargo & Company cut their price target on shares of Agree Realty from $80.00 to $79.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. BTIG Research boosted their price objective on shares of Agree Realty from $74.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Finally, Truist Financial increased their target price on shares of Agree Realty from $77.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Agree Realty presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.03.

Agree Realty Trading Down 3.7 %

Shares of ADC stock traded down $2.69 on Tuesday, hitting $70.62. 1,107,340 shares of the company's stock traded hands, compared to its average volume of 942,576. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 39.02, a P/E/G ratio of 3.66 and a beta of 0.62. The company's fifty day simple moving average is $75.24 and its 200 day simple moving average is $71.11. Agree Realty has a one year low of $54.28 and a one year high of $78.39. 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 (NYSE:ADC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business's quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.00 earnings per share. Equities analysts forecast that Agree Realty will post 4.12 EPS for the current year.

Hedge Funds Weigh In On Agree Realty

A number of institutional investors have recently added to or reduced their stakes in ADC. MCF Advisors LLC bought a new position in shares of Agree Realty in the 2nd quarter worth about $26,000. Headlands Technologies LLC grew its holdings 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 purchasing an additional 798 shares during the period. UMB Bank n.a. increased its stake in shares of 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 purchasing an additional 299 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Agree Realty during the third quarter valued at approximately $75,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Agree Realty in the 3rd quarter worth approximately $77,000. 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.