StockNews.com Upgrades Agree Realty (NYSE:ADC) to Hold

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

A number of other brokerages have also recently commented on ADC. JMP Securities cut Agree Realty from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 17th. Wells Fargo & Company dropped their price target on shares of Agree Realty from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Barclays decreased their price objective on Agree Realty from $76.00 to $74.00 and set an "underweight" rating for the company in a report on Tuesday, February 4th. Robert W. Baird increased their price objective on Agree Realty from $67.00 to $76.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus cut their target price on Agree Realty from $81.50 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.62.

Agree Realty Trading Up 0.0 %

Shares of ADC stock traded up $0.02 during trading hours on Friday, hitting $71.09. 439,056 shares of the company were exchanged, compared to its average volume of 863,320. The company has a 50 day simple moving average of $71.64 and a two-hundred day simple moving average of $73.52. The firm has a market cap of $7.62 billion, a P/E ratio of 40.01, a P/E/G ratio of 2.81 and a beta of 0.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. Agree Realty has a fifty-two week low of $54.28 and a fifty-two week high of $78.39.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. Equities analysts anticipate that Agree Realty will post 4.27 EPS for the current year.

Institutional Trading of Agree Realty

A number of large investors have recently added to or reduced their stakes in the stock. CWM LLC increased its stake in shares of Agree Realty by 8.5% during the 3rd quarter. CWM LLC now owns 3,458 shares of the real estate investment trust's stock worth $260,000 after purchasing an additional 271 shares during the last quarter. Creative Planning grew its holdings in Agree Realty by 7.8% during the third quarter. Creative Planning now owns 61,267 shares of the real estate investment trust's stock valued at $4,615,000 after purchasing an additional 4,448 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Agree Realty by 5.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,149 shares of the real estate investment trust's stock worth $1,970,000 after buying an additional 1,464 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Agree Realty by 18.6% in the third quarter. Blue Trust Inc. now owns 3,123 shares of the real estate investment trust's stock valued at $235,000 after buying an additional 489 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Agree Realty by 15.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,421 shares of the real estate investment trust's stock valued at $333,000 after buying an additional 592 shares during the last quarter. Hedge funds and other 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.