Agree Realty (NYSE:ADC) Given New $81.00 Price Target at Mizuho

Agree Realty (NYSE:ADC) had its target price raised by equities researchers at Mizuho from $74.00 to $81.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price target indicates a potential upside of 4.42% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, March 10th. JMP Securities lowered Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Stifel Nicolaus reduced their price objective on Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada lowered their target price on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Agree Realty in a research report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.38.

Agree Realty Trading Up 1.4 %

Shares of ADC traded up $1.08 during mid-day trading on Thursday, reaching $77.57. The company had a trading volume of 138,918 shares, compared to its average volume of 951,557. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $74.06 and a 200-day simple moving average of $73.93. Agree Realty has a fifty-two week low of $54.78 and a fifty-two week high of $78.39.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. On average, sell-side analysts anticipate that Agree Realty will post 4.27 EPS for the current fiscal year.

Institutional Trading of Agree Realty

Several institutional investors and hedge funds have recently bought and sold shares of ADC. Spire Wealth Management bought a new stake in shares of Agree Realty in the 4th quarter valued at approximately $411,000. abrdn plc increased its stake in Agree Realty by 33.7% during the fourth quarter. abrdn plc now owns 27,497 shares of the real estate investment trust’s stock valued at $1,922,000 after purchasing an additional 6,924 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Agree Realty by 37.3% during the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after purchasing an additional 990,362 shares during the period. Sage Investment Counsel LLC bought a new position in shares of Agree Realty in the 4th quarter worth about $329,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Agree Realty by 24.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 19,129 shares of the real estate investment trust’s stock valued at $1,348,000 after buying an additional 3,776 shares during the period. 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.