Agree Realty (NYSE:ADC) PT Set at $80.00 by UBS Group

Agree Realty (NYSE:ADC - Get Free Report) received a $80.00 target price from investment analysts at UBS Group in a report released on Wednesday, Marketbeat reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. UBS Group's target price indicates a potential upside of 11.23% from the stock's previous close.

ADC has been the topic of several other reports. Mizuho decreased their price objective on shares of Agree Realty from $81.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Truist Financial raised their price objective on Agree Realty from $77.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Robert W. Baird raised their price objective on Agree Realty from $76.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Wall Street Zen cut shares of Agree Realty from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Morgan Stanley lowered shares of Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price target on the stock. in a research note on Friday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $80.25.

Agree Realty Stock Down 0.4%

NYSE:ADC traded down $0.31 during mid-day trading on Wednesday, hitting $71.92. The company had a trading volume of 578,690 shares, compared to its average volume of 1,104,097. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 2.32 and a beta of 0.54. Agree Realty has a 1 year low of $65.60 and a 1 year high of $79.65. The business has a fifty day simple moving average of $73.95 and a 200-day simple moving average of $73.93. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.54.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.01. Agree Realty had a return on equity of 3.66% and a net margin of 30.05%. The company had revenue of $169.16 million for the quarter, compared to analysts' expectations of $167.77 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. Equities analysts forecast that Agree Realty will post 4.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agree Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of ADC. Vanguard Group Inc. boosted its holdings in shares of Agree Realty by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 14,913,633 shares of the real estate investment trust's stock valued at $1,151,183,000 after acquiring an additional 363,681 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in shares of Agree Realty by 43.0% in the fourth quarter. Cohen & Steers Inc. now owns 9,767,632 shares of the real estate investment trust's stock worth $688,108,000 after buying an additional 2,937,147 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of Agree Realty by 10.7% in the first quarter. Centersquare Investment Management LLC now owns 2,431,960 shares of the real estate investment trust's stock worth $187,723,000 after buying an additional 234,641 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Agree Realty by 17.8% in the first quarter. JPMorgan Chase & Co. now owns 2,338,219 shares of the real estate investment trust's stock worth $180,487,000 after buying an additional 353,884 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Agree Realty by 85.6% in the fourth quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust's stock worth $155,895,000 after buying an additional 1,020,512 shares during the last quarter. Hedge funds and other 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.