Agree Realty (NYSE:ADC) Stock Rating Lowered by JMP Securities

Agree Realty (NYSE:ADC - Get Free Report) was downgraded by analysts at JMP Securities from an "outperform" rating to a "market perform" rating in a note issued to investors on Tuesday, Marketbeat Ratings reports.

ADC has been the subject of a number of other reports. Robert W. Baird lifted their price objective on shares of Agree Realty from $67.00 to $76.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Royal Bank of Canada boosted their price objective on Agree Realty from $79.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Mizuho raised their target price on Agree Realty from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Wells Fargo & Company cut their target price on Agree Realty from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Finally, Raymond James increased their price target 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.03.

Agree Realty Stock Down 1.0 %

NYSE:ADC traded down $0.76 on Tuesday, hitting $73.29. The stock had a trading volume of 1,129,630 shares, compared to its average volume of 941,898. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. Agree Realty has a 52 week low of $54.28 and a 52 week high of $78.39. The business's fifty day moving average is $75.25 and its 200 day moving average is $71.02. The company has a market cap of $7.59 billion, a PE ratio of 40.97, a P/E/G ratio of 3.66 and a beta of 0.62.

Agree Realty (NYSE:ADC - Get Free Report) last issued its 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 firm had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. During the same period in the previous year, the company earned $1.00 earnings per share. Agree Realty's revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts expect that Agree Realty will post 4.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Daiwa Securities Group Inc. lifted its stake in Agree Realty by 29.4% in the third 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 purchasing an additional 534,545 shares during the last quarter. FMR LLC raised its stake in shares of Agree Realty by 729.3% in the third quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust's stock valued at $168,648,000 after buying an additional 1,968,811 shares during the period. Geode Capital Management LLC lifted its position in shares of Agree Realty by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust's stock valued at $156,327,000 after buying an additional 30,377 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Agree Realty by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust's stock worth $119,651,000 after acquiring an additional 57,354 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Agree Realty by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,522,014 shares of the real estate investment trust's stock worth $94,273,000 after acquiring an additional 76,818 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

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.