Agree Realty (NYSE:ADC) Given New $79.00 Price Target at Wells Fargo & Company

Agree Realty (NYSE:ADC - Get Free Report) had its price target dropped by research analysts at Wells Fargo & Company from $80.00 to $79.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective indicates a potential upside of 6.76% from the stock's previous close.

ADC has been the subject of a number of other reports. Stifel Nicolaus boosted their target price on Agree Realty from $67.50 to $71.50 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Royal Bank of Canada increased their target price on Agree Realty from $79.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. BTIG Research lifted their price target on shares of Agree Realty from $65.00 to $74.00 and gave the company a "buy" rating in a research note on Monday, August 12th. Robert W. Baird increased their price objective on shares of Agree Realty from $67.00 to $76.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Finally, Raymond James boosted their price objective 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. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.19.

Agree Realty Trading Up 0.1 %

NYSE ADC traded up $0.07 during trading hours on Monday, hitting $74.00. The company's stock had a trading volume of 826,761 shares, compared to its average volume of 967,814. The stock has a fifty day moving average of $74.72 and a 200 day moving average of $67.38. 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 twelve month low of $54.28 and a twelve month high of $77.47. The firm has a market capitalization of $7.66 billion, a P/E ratio of 40.71, a PEG ratio of 2.49 and a beta of 0.61.

Agree Realty (NYSE:ADC - Get Free Report) last posted its 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 company had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. Agree Realty's quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Equities research analysts forecast that Agree Realty will post 4.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. lifted its stake in Agree Realty by 13.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,831 shares of the real estate investment trust's stock valued at $590,000 after purchasing an additional 933 shares during the last quarter. Legacy Capital Wealth Partners LLC bought a new position in shares of Agree Realty during the 3rd quarter worth approximately $242,000. Atria Investments Inc raised its stake in Agree Realty by 9.7% in the 3rd quarter. Atria Investments Inc now owns 12,928 shares of the real estate investment trust's stock valued at $974,000 after acquiring an additional 1,142 shares during the period. Carmel Capital Partners LLC lifted its holdings in Agree Realty by 4.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 6,727 shares of the real estate investment trust's stock valued at $507,000 after purchasing an additional 257 shares during the last quarter. Finally, Leeward Investments LLC MA raised its holdings in Agree Realty by 2.4% in the 3rd quarter. Leeward Investments LLC MA now owns 501,171 shares of the real estate investment trust's stock valued at $37,747,000 after acquiring an additional 11,894 shares during the period. 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.