Agree Realty (NYSE:ADC) Stock Rating Upgraded by StockNews.com

Agree Realty (NYSE:ADC) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other research analysts also recently commented on the company. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. Barclays upgraded shares of Agree Realty from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $74.00 to $75.00 in a research report on Tuesday, March 4th. Wells Fargo & Company raised their price target on shares of Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. Robert W. Baird boosted their price objective on shares of Agree Realty from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Finally, Mizuho lifted their target price on Agree Realty from $74.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.88.

Agree Realty Trading Down 0.8 %

ADC opened at $76.29 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Agree Realty has a twelve month low of $58.18 and a twelve month high of $79.65. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 42.86, a P/E/G ratio of 2.88 and a beta of 0.55. The company has a 50-day simple moving average of $75.71 and a 200 day simple moving average of $74.09.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. The business had revenue of $169.16 million for the quarter, compared to analysts’ expectations of $167.77 million. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. During the same period last year, the firm posted $0.43 earnings per share. Analysts predict that Agree Realty will post 4.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Agree Realty

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Agree Realty by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust’s stock valued at $1,025,044,000 after purchasing an additional 219,806 shares during the period. Cohen & Steers Inc. increased its position in shares of Agree Realty by 43.0% during the fourth quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust’s stock worth $688,108,000 after acquiring an additional 2,937,147 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after purchasing an additional 990,362 shares during the last quarter. Invesco Ltd. increased its holdings in Agree Realty by 85.6% during the 4th quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust’s stock worth $155,895,000 after purchasing an additional 1,020,512 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Agree Realty by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 2,132,252 shares of the real estate investment trust’s stock worth $150,255,000 after purchasing an additional 57,492 shares during the last quarter. 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.