Agree Realty (NYSE:ADC) Raised to Hold at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Agree Realty (NYSE:ADC – Free Report) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other equities analysts also recently weighed in on ADC. Barclays upgraded shares of Agree Realty from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $74.00 to $75.00 in a report on Tuesday, March 4th. 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 note on Monday, March 10th. Mizuho boosted their target price on shares of Agree Realty from $74.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Robert W. Baird upped their price target on shares of Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Finally, JMP Securities reiterated a “market perform” rating on shares of Agree Realty in a research note on Wednesday, April 30th. Five 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.com, Agree Realty presently has an average rating of “Moderate Buy” and an average target price of $81.04.

Check Out Our Latest Report on ADC

Agree Realty Trading Up 0.0 %

NYSE:ADC opened at $76.39 on Friday. The company has a market capitalization of $8.40 billion, a P/E ratio of 42.92, a PEG ratio of 2.88 and a beta of 0.55. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. Agree Realty has a 12 month low of $58.18 and a 12 month high of $79.65. The firm has a fifty day simple moving average of $75.78 and a 200-day simple moving average of $74.10.

Agree Realty (NYSE:ADC – Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. The company had revenue of $169.16 million during the quarter, compared to analysts’ expectations of $167.77 million. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. During the same quarter in the previous year, the firm posted $0.43 EPS. On average, equities research analysts anticipate that Agree Realty will post 4.27 earnings per share for the current year.

Agree Realty Increases Dividend

The firm also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.256 per share. The ex-dividend date is Wednesday, April 30th. This represents a yield of 4.1%. This is an increase from Agree Realty’s previous apr 25 dividend of $0.25. Agree Realty’s dividend payout ratio is currently 173.45%.

Institutional Trading of Agree Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. purchased a new position in shares of Agree Realty during the 1st quarter valued at approximately $27,000. Versant Capital Management Inc lifted its holdings in 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 valued at $30,000 after purchasing an additional 293 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of Agree Realty in the fourth quarter valued at about $31,000. Capital Advisors Ltd. LLC increased its stake in shares of Agree Realty by 137.8% during the first quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 270 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in shares of Agree Realty by 72.8% during the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 235 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

Agree Realty Company Profile

(Get Free Report)

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.

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