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. The Company's common stock is listed on the New York Stock Exchange under the symbol "ADC".
Analyst Ratings Changes
A number of research firms recently commented on ADC. Citigroup raised their price objective on shares of Agree Realty to $80.00 in a research note on Monday. JMP Securities upped their price target on Agree Realty from $81.00 to $82.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 3rd. Morgan Stanley increased their price objective on Agree Realty from $75.00 to $77.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 12th. StockNews.com upgraded Agree Realty from a "sell" rating to a "hold" rating in a report on Friday. Finally, Raymond James raised their price target on shares of Agree Realty from $76.00 to $85.00 and gave the stock a "strong-buy" rating in a report on Friday, July 8th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Agree Realty has a consensus rating of "Moderate Buy" and an average price target of $79.23.
Agree Realty Stock Performance
Shares of ADC Stock traded down $0.27 during trading on Tuesday, reaching $80.08. The company had a trading volume of 429,762 shares, compared to its average volume of 690,115. Agree Realty has a one year low of $61.62 and a one year high of $80.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.98 and a quick ratio of 0.98. The firm's 50 day simple moving average is $74.26 and its two-hundred day simple moving average is $69.29. The company has a market capitalization of $6.39 billion, a PE ratio of 42.37, a PEG ratio of 2.79 and a beta of 0.39.
Agree Realty (NYSE:ADC - Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.45 earnings per share for the quarter, hitting analysts' consensus estimates of $0.45. Agree Realty had a net margin of 37.13% and a return on equity of 4.38%. During the same period in the previous year, the business earned $0.89 earnings per share. Sell-side analysts forecast that Agree Realty will post 3.88 earnings per share for the current year.
Agree Realty Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 14th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.234 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $2.81 annualized dividend and a yield of 3.51%. Agree Realty's payout ratio is 148.68%.