Agree Realty (NYSE:ADC) Now Covered by Barclays

Investment analysts at Barclays assumed coverage on shares of Agree Realty (NYSE:ADC) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set an “underweight” rating and a $76.00 price target on the real estate investment trust’s stock. Barclays‘s target price suggests a potential upside of 7.62% from the company’s previous close.

Several other equities research analysts have also issued reports on ADC. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday. KeyCorp raised their price objective on shares of Agree Realty from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. UBS Group upped their target price on Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Robert W. Baird raised their price target on Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, Mizuho boosted their price objective on Agree Realty from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.03.

Agree Realty Trading Down 3.7 %

Shares of NYSE ADC opened at $70.62 on Tuesday. Agree Realty has a 1-year low of $54.28 and a 1-year high of $78.39. 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 moving average is $75.17 and its two-hundred day moving average is $71.10. The stock has a market capitalization of $7.31 billion, a P/E ratio of 39.02, a PEG ratio of 3.66 and a beta of 0.62.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.61). The company had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 EPS. As a group, research analysts expect that Agree Realty will post 4.12 EPS for the current year.

Institutional Investors Weigh In On Agree Realty

Several large investors have recently modified their holdings of the business. MCF Advisors LLC bought a new position in shares of Agree Realty during the second quarter valued at approximately $26,000. Headlands Technologies LLC boosted its position in Agree Realty by 232.0% during the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 798 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Agree Realty by 44.5% in the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 299 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Agree Realty in the 3rd quarter valued at $75,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Agree Realty in the 3rd quarter worth $77,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Company Profile

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.