Agree Realty Co. (NYSE:ADC) Receives Average Rating of “Moderate Buy” from Analysts

Agree Realty Co. (NYSE:ADC) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $75.73.

A number of equities research analysts have recently commented on ADC shares. Mizuho increased their target price on shares of Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Royal Bank of Canada boosted their target price on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. UBS Group increased their price target on Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Robert W. Baird boosted 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.

Institutional Investors Weigh In On Agree Realty

Institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Agree Realty during the 3rd quarter worth approximately $77,000. World Investment Advisors LLC acquired a new position in Agree Realty during the third quarter worth $211,000. Geode Capital Management LLC boosted its position in shares of Agree Realty by 1.5% during the third quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust’s stock worth $156,327,000 after buying an additional 30,377 shares during the period. Vestcor Inc acquired a new stake in shares of Agree Realty in the third quarter valued at $111,000. Finally, Barclays PLC lifted its stake in Agree Realty by 129.4% during the 3rd quarter. Barclays PLC now owns 239,783 shares of the real estate investment trust’s stock worth $18,062,000 after acquiring an additional 135,274 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Trading Up 0.7 %

Shares of Agree Realty stock opened at $76.97 on Wednesday. The company has a current ratio of 0.66, a quick 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 $77.58. The firm has a market capitalization of $7.97 billion, a PE ratio of 42.52, a P/E/G ratio of 3.10 and a beta of 0.61. The firm’s 50-day moving average price is $75.09 and its 200 day moving average price is $69.40.

Agree Realty (NYSE:ADC) last released 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 firm had revenue of $154.33 million during the quarter, compared to analysts’ expectations of $152.83 million. During the same quarter last year, the business earned $1.00 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts predict that Agree Realty will post 4.12 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.253 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.04 annualized dividend and a yield of 3.94%. Agree Realty’s dividend payout ratio (DPR) is currently 167.40%.

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.