Agree Realty (NYSE:ADC) Stock Price Expected to Rise, Barclays Analyst Says

Agree Realty (NYSE:ADC - Get Free Report) had its price target increased by Barclays from $77.00 to $78.00 in a report released on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the real estate investment trust's stock. Barclays's price target would indicate a potential upside of 9.39% from the stock's previous close.

Other equities analysts have also issued reports about the company. Morgan Stanley lowered Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 price objective on the stock. in a research note on Friday, July 11th. UBS Group set a $80.00 price objective on Agree Realty and gave the stock a "buy" rating in a report on Wednesday, July 16th. Mizuho dropped their price objective on Agree Realty from $81.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Truist Financial boosted their price target on Agree Realty from $77.00 to $82.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Evercore ISI boosted their price objective on Agree Realty from $82.00 to $83.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $80.32.

Agree Realty Stock Down 0.5%

Shares of ADC stock traded down $0.32 during trading hours on Monday, reaching $71.31. 830,474 shares of the stock were exchanged, compared to its average volume of 1,105,428. The business's fifty day moving average is $73.81 and its two-hundred day moving average is $74.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.72 and a quick ratio of 0.72. Agree Realty has a 12-month low of $65.98 and a 12-month high of $79.65. The firm has a market capitalization of $7.85 billion, a P/E ratio of 40.29, a P/E/G ratio of 2.32 and a beta of 0.54.

Agree Realty (NYSE:ADC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share 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 business had revenue of $169.16 million during the quarter, compared to the consensus estimate of $167.77 million. During the same period in the prior year, the company earned $0.43 earnings per share. As a group, research analysts expect that Agree Realty will post 4.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Agree Realty

Large investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC increased its holdings in Agree Realty by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust's stock valued at $365,000 after purchasing an additional 139 shares during the period. Janney Montgomery Scott LLC boosted its stake in Agree Realty by 61.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,982 shares of the real estate investment trust's stock valued at $925,000 after purchasing an additional 4,551 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Agree Realty by 3.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 301,751 shares of the real estate investment trust's stock valued at $21,258,000 after purchasing an additional 10,446 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Agree Realty by 664.6% in the 4th quarter. Wellington Management Group LLP now owns 590,845 shares of the real estate investment trust's stock worth $41,625,000 after buying an additional 513,571 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Agree Realty by 10.1% in the 1st 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. Institutional investors and hedge funds 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.

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