Mizuho Issues Pessimistic Forecast for Agree Realty (NYSE:ADC) Stock Price

Key Points

• Mizuho has lowered its target price for Agree Realty from $78.00 to $77.00, maintaining a "neutral" rating, indicating a potential upside of 6.10% from the current stock price.
• Several other analysts, including Barclays and Morgan Stanley, have also reduced their target prices on Agree Realty, reflecting a consensus rating of "Moderate Buy" with an average price target of $80.42.
• Agree Realty reported a $1.06 EPS for the last quarter, surpassing estimates, and projected earnings guidance of 4.290-4.320 EPS for FY 2025.

Agree Realty (NYSE:ADC - Get Free Report) had its target price decreased by stock analysts at Mizuho from $78.00 to $77.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. Mizuho's target price points to a potential upside of 6.82% from the stock's current price.

A number of other research firms also recently weighed in on ADC. Barclays decreased their price target on shares of Agree Realty from $78.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 20th. JMP Securities reissued a "market perform" rating on shares of Agree Realty in a research report on Monday, June 30th. Morgan Stanley downgraded shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price objective for the company. in a report on Friday, July 11th. Wall Street Zen downgraded shares of Agree Realty from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Finally, Truist Financial set a $84.00 price objective on shares of Agree Realty in a report on Friday, August 8th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.58.

Agree Realty Trading Down 1.2%

Shares of ADC stock traded down $0.88 during trading hours on Thursday, hitting $72.09. 257,448 shares of the company were exchanged, compared to its average volume of 1,158,169. Agree Realty has a 1 year low of $67.58 and a 1 year high of $79.65. The firm has a fifty day moving average of $72.72 and a 200 day moving average of $74.31. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. The firm has a market cap of $7.98 billion, a PE ratio of 42.92, a PEG ratio of 2.44 and a beta of 0.56.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The firm had revenue of $175.53 million for the quarter, compared to analyst estimates of $173.95 million. During the same quarter last year, the firm posted $1.04 earnings per share. Agree Realty's revenue for the quarter was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. Analysts expect that Agree Realty will post 4.27 earnings per share for the current year.

Insider Activity at Agree Realty

In other news, Director Greg Lehmkuhl purchased 750 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was acquired at an average price of $72.84 per share, with a total value of $54,630.00. Following the purchase, the director owned 27,684 shares in the company, valued at $2,016,502.56. This represents a 2.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joey Agree purchased 2,100 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $72.08 per share, with a total value of $151,368.00. Following the purchase, the chief executive officer owned 635,160 shares in the company, valued at $45,782,332.80. This represents a 0.33% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 7,700 shares of company stock valued at $555,926. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Agree Realty

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its holdings in Agree Realty by 3.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust's stock worth $365,000 after purchasing an additional 139 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Agree Realty by 61.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,982 shares of the real estate investment trust's stock worth $925,000 after purchasing an additional 4,551 shares during the last quarter. AE Wealth Management LLC acquired a new stake in Agree Realty in the 1st quarter worth approximately $358,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Agree Realty by 10.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 21,070 shares of the real estate investment trust's stock worth $1,626,000 after buying an additional 1,941 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Agree Realty by 77.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 112,702 shares of the real estate investment trust's stock worth $8,699,000 after buying an additional 49,282 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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.