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

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

Several other equities analysts also recently issued reports on the stock. JMP Securities downgraded shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. Citizens Jmp lowered Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Robert W. Baird raised their target price on shares of Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Mizuho upped their target price on Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given 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 $78.93.

Agree Realty Stock Up 0.9 %

Shares of NYSE ADC traded up $0.60 during mid-day trading on Tuesday, hitting $71.02. The company had a trading volume of 272,763 shares, compared to its average volume of 647,009. Agree Realty has a 1-year low of $54.28 and a 1-year high of $78.39. The company has a market capitalization of $7.35 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 3.66 and a beta of 0.64. 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 business’s 50-day simple moving average is $73.94 and its 200 day simple moving average is $72.02.

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 (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 firm had revenue of $154.33 million for the quarter, compared to analysts’ expectations of $152.83 million. During the same period last year, the firm posted $1.00 earnings per share. Agree Realty’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts predict that Agree Realty will post 4.12 earnings per share for the current year.

Hedge Funds Weigh In On Agree Realty

Several hedge funds and other institutional investors have recently modified their holdings of ADC. Commonwealth Equity Services LLC lifted its position in Agree Realty by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,895 shares of the real estate investment trust’s stock valued at $427,000 after buying an additional 216 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Agree Realty by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 28,170 shares of the real estate investment trust’s stock valued at $1,745,000 after acquiring an additional 545 shares in the last quarter. Savant Capital LLC purchased a new stake in Agree Realty during the 2nd quarter worth $1,364,000. Wedbush Securities Inc. acquired a new stake in Agree Realty in the 2nd quarter valued at $211,000. Finally, Choreo LLC acquired a new position in shares of Agree Realty during the second quarter worth about $576,000. 97.83% of the stock is owned by institutional investors and hedge funds.

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.