Agree Realty (NYSE:ADC) Upgraded to "Hold" at StockNews.com

Agree Realty (NYSE:ADC - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Other analysts have also issued reports about the company. Royal Bank of Canada cut their price target on Agree Realty from $79.00 to $78.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. UBS Group raised Agree Realty from a "neutral" rating to a "buy" rating and upped their price target for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. Stifel Nicolaus boosted their price objective on shares of Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Evercore ISI raised their target price on shares of Agree Realty from $82.00 to $83.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, JMP Securities restated a "market perform" rating on shares of Agree Realty in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Agree Realty currently has an average rating of "Moderate Buy" and a consensus target price of $81.04.

Agree Realty Trading Up 0.0 %

Agree Realty stock traded up $0.03 during mid-day trading on Friday, hitting $76.39. 1,237,243 shares of the company's stock were exchanged, compared to its average volume of 1,020,448. Agree Realty has a fifty-two week low of $58.18 and a fifty-two week high of $79.65. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $8.40 billion, a P/E ratio of 42.92, a PEG ratio of 2.88 and a beta of 0.55. The company's 50 day simple moving average is $75.71 and its 200-day simple moving average is $74.09.

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 for the quarter, beating the consensus estimate of $1.05 by $0.01. The business had revenue of $169.16 million for the quarter, compared to analysts' expectations of $167.77 million. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. During the same quarter in the previous year, the business posted $0.43 EPS. On average, equities analysts anticipate that Agree Realty will post 4.27 earnings per share for the current year.

Institutional Trading of Agree Realty

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Agree Realty by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 14,549,952 shares of the real estate investment trust's stock worth $1,025,044,000 after acquiring an additional 219,806 shares during the period. Cohen & Steers Inc. boosted its position 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 valued at $688,108,000 after acquiring an additional 2,937,147 shares during the period. JPMorgan Chase & Co. raised its stake in Agree Realty by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust's stock worth $274,693,000 after purchasing an additional 990,362 shares in the last quarter. Invesco Ltd. boosted its holdings in Agree Realty by 85.6% in the 4th quarter. Invesco Ltd. now owns 2,212,852 shares of the real estate investment trust's stock valued at $155,895,000 after purchasing an additional 1,020,512 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Agree Realty by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 2,132,252 shares of the real estate investment trust's stock worth $150,255,000 after purchasing an additional 57,492 shares in the last quarter. 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.