Agree Realty (NYSE:ADC) Raised to "Equal Weight" at Barclays

Barclays upgraded shares of Agree Realty (NYSE:ADC - Free Report) from an underweight rating to an equal weight rating in a research note published on Tuesday, MarketBeat Ratings reports. The firm currently has $75.00 price target on the real estate investment trust's stock, up from their prior price target of $74.00.

ADC has been the subject of several other reports. Deutsche Bank Aktiengesellschaft started coverage on Agree Realty in a research report on Wednesday, December 11th. They set a "buy" rating and a $88.00 price target for the company. Citizens Jmp lowered shares of Agree Realty from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Wells Fargo & Company decreased 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 note on Monday, November 4th. Mizuho dropped their price objective on shares of Agree Realty from $80.00 to $74.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group upgraded shares of Agree Realty from a "neutral" rating to a "buy" rating and increased their price objective for the company from $79.00 to $84.00 in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Agree Realty has an average rating of "Moderate Buy" and a consensus price target of $79.69.

Agree Realty Price Performance

Shares of NYSE ADC traded up $1.39 during trading on Tuesday, hitting $75.58. The company had a trading volume of 1,263,345 shares, compared to its average volume of 927,729. Agree Realty has a fifty-two week low of $54.78 and a fifty-two week high of $78.39. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $71.76 and a two-hundred day simple moving average of $73.61. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.65.

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

Agree Realty Dividend Announcement

The firm also recently disclosed a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.253 dividend. The ex-dividend date is Friday, February 28th. This represents a yield of 4.2%. Agree Realty's payout ratio is 170.22%.

Institutional Investors Weigh In On Agree Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position in shares of Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 293 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in Agree Realty during the fourth quarter worth about $31,000. Headlands Technologies LLC increased its position in shares of Agree Realty by 72.8% during the fourth quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 235 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Agree Realty during the fourth quarter valued at about $44,000. Finally, Quarry LP purchased a new stake in shares of Agree Realty in the 4th quarter valued at approximately $52,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

About Agree Realty

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.