Agree Realty Co. (NYSE:ADC - Get Rating) has been given an average recommendation of "Moderate Buy" by the twelve research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $78.41.
A number of research firms have recently issued reports on ADC. JMP Securities dropped their target price on shares of Agree Realty from $82.00 to $75.00 and set a "market outperform" rating for the company in a report on Tuesday, October 18th. Morgan Stanley dropped their price objective on shares of Agree Realty from $77.00 to $73.00 and set an "overweight" rating for the company in a report on Wednesday, November 2nd. Royal Bank of Canada upped their price objective on shares of Agree Realty from $76.00 to $83.00 and gave the company an "outperform" rating in a report on Thursday, August 4th. Raymond James dropped their price objective on shares of Agree Realty from $85.00 to $80.00 and set a "strong-buy" rating for the company in a report on Tuesday, October 4th. Finally, Citigroup upped their price objective on shares of Agree Realty to $80.00 in a report on Monday, August 15th.
Agree Realty Price Performance
Shares of NYSE ADC opened at $69.98 on Friday. The firm has a market cap of $6.20 billion, a PE ratio of 38.24, a PEG ratio of 3.17 and a beta of 0.45. The firm has a fifty day moving average of $68.17 and a 200 day moving average of $71.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.98 and a current ratio of 2.98. Agree Realty has a one year low of $61.62 and a one year high of $80.44.
Agree Realty Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, November 29th. This represents a $2.88 annualized dividend and a dividend yield of 4.12%. Agree Realty's dividend payout ratio is presently 157.38%.
Institutional Trading of Agree Realty
Several hedge funds have recently made changes to their positions in the business. Balyasny Asset Management LLC increased its stake in shares of Agree Realty by 264.7% during the third quarter. Balyasny Asset Management LLC now owns 364,004 shares of the real estate investment trust's stock worth $24,599,000 after buying an additional 264,208 shares during the period. Jane Street Group LLC increased its stake in Agree Realty by 266.0% in the third quarter. Jane Street Group LLC now owns 30,285 shares of the real estate investment trust's stock valued at $2,047,000 after purchasing an additional 22,010 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in Agree Realty by 6.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,254 shares of the real estate investment trust's stock valued at $1,504,000 after purchasing an additional 1,422 shares during the last quarter. BNP Paribas Arbitrage SNC increased its stake in Agree Realty by 58.1% in the third quarter. BNP Paribas Arbitrage SNC now owns 89,003 shares of the real estate investment trust's stock valued at $6,015,000 after purchasing an additional 32,704 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Agree Realty in the third quarter valued at approximately $35,000.
Agree Realty Company Profile
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to email@example.com.
Before you consider Agree Realty, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Agree Realty wasn't on the list.
While Agree Realty currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here