Stifel Nicolaus Cuts Agree Realty (NYSE:ADC) Price Target to $81.00

Agree Realty (NYSE:ADC - Free Report) had its price target decreased by Stifel Nicolaus from $81.50 to $81.00 in a report issued on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the real estate investment trust's stock.

Other equities research analysts have also issued reports about the company. Citizens Jmp lowered Agree Realty from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Wells Fargo & Company decreased their price target on Agree Realty from $80.00 to $79.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. JMP Securities downgraded Agree Realty from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 17th. Royal Bank of Canada decreased their price target on Agree Realty from $80.00 to $79.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Barclays initiated coverage on Agree Realty in a research note on Tuesday, December 17th. They set an "underweight" rating and a $76.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $78.93.

Agree Realty Trading Down 0.6 %

NYSE:ADC traded down $0.44 during mid-day trading on Tuesday, reaching $69.98. The company's stock had a trading volume of 3,236,662 shares, compared to its average volume of 1,399,766. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The company's fifty day simple moving average is $73.87 and its two-hundred day simple moving average is $72.08. The stock has a market cap of $7.24 billion, a P/E ratio of 38.66, a P/E/G ratio of 3.66 and a beta of 0.64.

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 for the quarter, missing the consensus estimate of $1.03 by ($0.61). Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. During the same quarter in the previous year, the firm posted $1.00 EPS. The business's revenue was up 12.8% compared to the same quarter last year. On average, equities analysts predict that Agree Realty will post 4.12 EPS for the current year.

Agree Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Agree Realty's dividend payout ratio is 167.40%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in shares of Agree Realty by 230.7% during the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock worth $30,000 after buying an additional 293 shares during the period. UMB Bank n.a. lifted its holdings in shares of Agree Realty by 44.5% in the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust's stock worth $73,000 after purchasing an additional 299 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Agree Realty during the third quarter worth $75,000. Wilmington Savings Fund Society FSB acquired a new position in Agree Realty during the 3rd quarter valued at about $77,000. Finally, Headlands Technologies LLC boosted its position in shares of Agree Realty by 232.0% during the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 798 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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.