Agree Realty (NYSE:ADC) PT Raised to $80.00

Agree Realty (NYSE:ADC) had its price target increased by research analysts at KeyCorp from $68.00 to $80.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s price target indicates a potential upside of 8.28% from the company’s current price.

Several other brokerages have also recently weighed in on ADC. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Stifel Nicolaus upped their price objective on shares of Agree Realty from $67.50 to $71.50 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. BTIG Research raised their target price on shares of Agree Realty from $65.00 to $74.00 and gave the company a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada upped their price target on shares of Agree Realty from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 price objective (up from $77.00) on shares of Agree Realty in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.21.

Agree Realty Stock Down 1.7 %

ADC stock opened at $73.88 on Friday. Agree Realty has a fifty-two week low of $52.69 and a fifty-two week high of $77.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 43.46, a PEG ratio of 2.51 and a beta of 0.61. The business’s fifty day moving average price is $73.44 and its two-hundred day moving average price is $64.75.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.51). Agree Realty had a net margin of 32.08% and a return on equity of 3.72%. The business had revenue of $152.58 million during the quarter, compared to the consensus estimate of $150.35 million. During the same period in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities analysts anticipate that Agree Realty will post 4.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ADC. Corient Private Wealth LLC lifted its holdings in Agree Realty by 11.5% during the 4th quarter. Corient Private Wealth LLC now owns 7,645 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 787 shares during the period. Parallel Advisors LLC boosted its holdings in Agree Realty by 35.9% in the fourth quarter. Parallel Advisors LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 298 shares during the last quarter. Cibc World Markets Corp acquired a new stake in Agree Realty during the 4th quarter valued at approximately $2,113,000. Scout Investments Inc. raised its holdings in Agree Realty by 34.1% during the 4th quarter. Scout Investments Inc. now owns 844,367 shares of the real estate investment trust’s stock worth $53,153,000 after purchasing an additional 214,840 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in shares of Agree Realty by 8.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 624,188 shares of the real estate investment trust’s stock worth $39,293,000 after purchasing an additional 51,069 shares during the period. 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.