Investment Analysts’ Recent Ratings Changes for Agree Realty (ADC)

Agree Realty (NYSE: ADC) has recently received a number of price target changes and ratings updates:

• 11/27/2024 – Agree Realty had its price target raised by analysts at BTIG Research from $74.00 to $78.00. They now have a “buy” rating on the stock.
• 11/22/2024 – Agree Realty was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/14/2024 – Agree Realty was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/14/2024 – Agree Realty had its price target raised by analysts at UBS Group AG from $77.00 to $79.00. They now have a “neutral” rating on the stock.
• 11/14/2024 – Agree Realty had its price target raised by analysts at Mizuho from $75.00 to $80.00. They now have a “neutral” rating on the stock.
• 11/4/2024 – Agree Realty had its price target lowered by analysts at Wells Fargo & Company from $80.00 to $79.00. They now have an “overweight” rating on the stock.
• 10/30/2024 – Agree Realty had its price target raised by analysts at Truist Financial Co. from $77.00 to $80.00. They now have a “buy” rating on the stock.
• 10/29/2024 – Agree Realty had its price target raised by analysts at Robert W. Baird from $67.00 to $76.00. They now have an “outperform” rating on the stock.
• 10/24/2024 – Agree Realty had its price target raised by analysts at Royal Bank of Canada from $79.00 to $80.00. They now have an “outperform” rating on the stock.
• 10/16/2024 – Agree Realty had its price target raised by analysts at UBS Group AG from $72.00 to $77.00. They now have a “neutral” rating on the stock.
• 10/4/2024 – Agree Realty had its price target raised by analysts at KeyCorp from $68.00 to $80.00. They now have an “overweight” rating on the stock.
• 10/1/2024 – Agree Realty had its “overweight” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $80.00 price target on the stock, up previously from $77.00.

Agree Realty Stock Down 1.1 %

Shares of NYSE ADC traded down $0.85 during midday trading on Friday, hitting $76.80. 519,145 shares of the company’s stock were exchanged, compared to its average volume of 958,222. 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 Co. has a twelve month low of $54.28 and a twelve month high of $78.39. The company has a market cap of $7.95 billion, a PE ratio of 42.43, a P/E/G ratio of 3.83 and a beta of 0.61. The firm’s fifty day simple moving average is $75.22 and its 200-day simple moving average is $69.63.

Agree Realty (NYSE:ADC) last released its quarterly 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). The firm 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 company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $1.00 EPS. Research analysts predict that Agree Realty Co. will post 4.12 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, November 29th. Agree Realty’s payout ratio is currently 167.96%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its holdings in shares of Agree Realty by 29.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock valued at $177,030,000 after purchasing an additional 534,545 shares during the period. FMR LLC boosted its stake in shares of Agree Realty by 729.3% in the third quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock valued at $168,648,000 after buying an additional 1,968,811 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Agree Realty by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,074,760 shares of the real estate investment trust’s stock valued at $156,327,000 after buying an additional 30,377 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Agree Realty by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,588,355 shares of the real estate investment trust’s stock valued at $119,651,000 after buying an additional 57,354 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Agree Realty by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,522,014 shares of the real estate investment trust’s stock valued at $94,273,000 after buying an additional 76,818 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

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.