Agree Realty (NYSE:ADC) Upgraded at Barclays

Agree Realty (NYSE:ADC) was upgraded by equities researchers at Barclays from an “underweight” rating to an “equal weight” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $75.00 price target on the real estate investment trust’s stock, up from their prior price target of $74.00. Barclays‘s price target indicates a potential upside of 1.26% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. JMP Securities downgraded shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 17th. Stifel Nicolaus dropped their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, BTIG Research increased their price target on shares of Agree Realty from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.69.

Agree Realty Trading Up 0.4 %

NYSE ADC opened at $74.07 on Tuesday. The stock has a market cap of $7.94 billion, a P/E ratio of 41.61, a PEG ratio of 2.88 and a beta of 0.65. The company’s fifty day simple moving average is $71.69 and its 200-day simple moving average is $73.59. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. Agree Realty has a 52 week low of $54.78 and a 52 week high of $78.39.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. Equities research analysts predict that Agree Realty will post 4.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Total Wealth Planning & Management Inc. acquired a new position in shares of Agree Realty during the fourth quarter worth approximately $378,000. Employees Retirement System of Texas boosted its position in Agree Realty by 177.9% during the 4th quarter. Employees Retirement System of Texas now owns 71,000 shares of the real estate investment trust’s stock worth $5,002,000 after acquiring an additional 45,450 shares during the period. Bernard Wealth Management Corp. bought a new position in shares of Agree Realty in the fourth quarter worth $31,000. GF Fund Management CO. LTD. bought a new position in shares of Agree Realty in the fourth quarter worth $129,000. Finally, Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Agree Realty during the fourth quarter valued at $1,076,000. 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.