Agree Realty (NYSE:ADC) Coverage Initiated at Barclays

Equities researchers at Barclays started coverage on shares of Agree Realty (NYSE:ADC) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set an “underweight” rating and a $76.00 price target on the real estate investment trust’s stock. Barclays‘s target price suggests a potential upside of 2.64% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Raymond James boosted their target price 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. BTIG Research upped their price objective on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Robert W. Baird increased their price target on shares of Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Evercore ISI assumed coverage on shares of Agree Realty in a report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price objective on the stock. Finally, UBS Group upped their price objective on shares of Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued 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 $78.03.

Agree Realty Trading Down 0.8 %

Shares of Agree Realty stock opened at $74.05 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. Agree Realty has a 1-year low of $54.28 and a 1-year high of $78.39. The company’s fifty day simple moving average is $75.23 and its 200-day simple moving average is $70.92. The stock has a market capitalization of $7.67 billion, a PE ratio of 40.91, a P/E/G ratio of 3.66 and a beta of 0.62.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). The firm had revenue of $154.33 million during the quarter, compared to analysts’ expectations of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. As a group, equities analysts anticipate that Agree Realty will post 4.12 earnings per share for the current year.

Hedge Funds Weigh In On Agree Realty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC purchased a new stake in Agree Realty in the second quarter valued at approximately $26,000. Headlands Technologies LLC grew 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 worth $71,000 after acquiring an additional 798 shares during the last quarter. UMB Bank n.a. grew its position in 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 valued at $73,000 after buying an additional 299 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Agree Realty in the 3rd quarter valued at about $75,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Agree Realty during the third quarter valued at about $77,000. Institutional investors and hedge funds 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.