Agree Realty (NYSE:ADC) Receives Market Perform Rating from JMP Securities

Agree Realty (NYSE:ADC - Get Free Report)'s stock had its "market perform" rating reiterated by equities research analysts at JMP Securities in a report issued on Monday,Benzinga reports.

A number of other research firms have also recently weighed in on ADC. Truist Financial raised their price objective on shares of Agree Realty from $77.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Mizuho reduced their price target on shares of Agree Realty from $81.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Evercore ISI raised their price objective on Agree Realty from $82.00 to $83.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. BTIG Research cut Agree Realty from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen downgraded Agree Realty from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $80.96.

Agree Realty Stock Performance

NYSE:ADC opened at $72.38 on Monday. Agree Realty has a 12 month low of $61.03 and a 12 month high of $79.65. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $7.96 billion, a PE ratio of 40.89, a price-to-earnings-growth ratio of 2.30 and a beta of 0.56. The business's fifty day moving average price is $75.18 and its 200 day moving average price is $73.89.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping 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 business had revenue of $169.16 million during the quarter, compared to analysts' expectations of $167.77 million. During the same period in the prior year, the firm posted $0.43 EPS. On average, sell-side analysts anticipate that Agree Realty will post 4.27 earnings per share for the current fiscal year.

Institutional Trading of Agree Realty

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADC. Cullen Frost Bankers Inc. acquired a new position in shares of Agree Realty in the first quarter valued at approximately $27,000. SVB Wealth LLC purchased a new position in Agree Realty in the 1st quarter valued at $33,000. Bernard Wealth Management Corp. acquired a new position in Agree Realty in the 4th quarter valued at $31,000. Capital Advisors Ltd. LLC increased its stake in Agree Realty by 137.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 270 shares during the period. Finally, NBC Securities Inc. purchased a new position in Agree Realty during the 1st quarter worth $39,000. 97.83% of the stock is owned by hedge funds and other institutional investors.

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.

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