Agree Realty (NYSE:ADC) Given New $79.00 Price Target at UBS Group

Agree Realty (NYSE:ADC) had its price target raised by equities research analysts at UBS Group from $77.00 to $79.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s target price would indicate a potential upside of 3.76% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus increased their target price on Agree Realty from $67.50 to $71.50 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Robert W. Baird boosted their target price on shares of Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Raymond James raised their price target on shares of Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 21st. Royal Bank of Canada upped their price objective on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Truist Financial boosted their target price on Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.73.

Agree Realty Price Performance

Shares of Agree Realty stock traded down $0.51 during trading on Thursday, hitting $76.14. 24,123 shares of the company’s stock traded hands, compared to its average volume of 968,368. Agree Realty has a twelve month low of $54.28 and a twelve month high of $77.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $7.88 billion, a PE ratio of 42.15, a PEG ratio of 3.10 and a beta of 0.61. The firm’s fifty day moving average price is $75.00 and its 200 day moving average price is $68.30.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The company had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. During the same quarter last year, the business earned $1.00 EPS. Agree Realty’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts forecast that Agree Realty will post 4.11 earnings per share for the current year.

Institutional Investors Weigh In On Agree Realty

Several institutional investors have recently bought and sold shares of ADC. MCF Advisors LLC acquired a new position in shares of Agree Realty during the 2nd quarter worth about $26,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Agree Realty by 248.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 442 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of Agree Realty by 232.0% in the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 798 shares in the last quarter. UMB Bank n.a. increased its holdings in Agree Realty by 44.5% during the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 299 shares during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new stake in Agree Realty in the third quarter valued at $75,000. Institutional investors own 97.83% of the company’s stock.

About Agree Realty

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.