Stifel Nicolaus Lowers Agree Realty (NYSE:ADC) Price Target to $81.00

Agree Realty (NYSE:ADC) had its price target decreased by research analysts at Stifel Nicolaus from $81.50 to $81.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 14.05% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company decreased their price target on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Truist Financial raised their price target on Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada dropped their price objective on Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a research note on Tuesday. Barclays started coverage on shares of Agree Realty in a research report on Tuesday, December 17th. They set an “underweight” rating and a $76.00 price objective on the stock. Finally, Mizuho upped their target price on Agree Realty from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.93.

Agree Realty Trading Up 0.9 %

Shares of ADC stock traded up $0.60 during trading hours on Tuesday, hitting $71.02. 272,763 shares of the company were exchanged, compared to its average volume of 647,009. The firm has a market cap of $7.35 billion, a P/E ratio of 39.24, a P/E/G ratio of 3.66 and a beta of 0.64. Agree Realty has a fifty-two week low of $54.28 and a fifty-two week high of $78.39. The company has a 50 day simple moving average of $73.94 and a two-hundred day simple moving average of $72.02. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66.

Agree Realty (NYSE:ADC) last released its quarterly earnings data 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). The business had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 EPS. Equities analysts anticipate that Agree Realty will post 4.12 EPS for the current year.

Institutional Trading of Agree Realty

Several hedge funds have recently made changes to their positions in ADC. Commonwealth Equity Services LLC lifted its stake in shares of Agree Realty by 3.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,895 shares of the real estate investment trust’s stock valued at $427,000 after purchasing an additional 216 shares during the last quarter. Arizona State Retirement System lifted its position in Agree Realty by 2.0% in the second quarter. Arizona State Retirement System now owns 28,170 shares of the real estate investment trust’s stock valued at $1,745,000 after buying an additional 545 shares during the last quarter. Savant Capital LLC purchased a new position in Agree Realty during the second quarter worth about $1,364,000. Wedbush Securities Inc. acquired a new stake in shares of Agree Realty during the second quarter valued at about $211,000. Finally, Choreo LLC purchased a new stake in shares of Agree Realty in the 2nd quarter valued at approximately $576,000. Hedge funds and other 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.