Agree Realty (NYSE:ADC) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Agree Realty (NYSE:ADC) had its price objective upped by equities researchers at Robert W. Baird from $76.00 to $80.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s target price suggests a potential upside of 5.74% from the company’s current price.

A number of other research analysts have also commented on the stock. Barclays upgraded shares of Agree Realty from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $74.00 to $75.00 in a research note on Tuesday, March 4th. Mizuho upped their price objective on shares of Agree Realty from $74.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Evercore ISI raised their price objective on shares of Agree Realty from $82.00 to $83.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and lifted their price target for the company from $79.00 to $84.00 in a research note on Monday, January 6th. Finally, Stifel Nicolaus boosted their target price on shares of Agree Realty from $81.00 to $82.50 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Agree Realty currently has a consensus rating of “Moderate Buy” and an average target price of $80.88.

Agree Realty Trading Down 0.8 %

NYSE ADC opened at $75.66 on Friday. Agree Realty has a 52 week low of $57.02 and a 52 week high of $79.65. The firm has a 50 day moving average of $75.26 and a two-hundred day moving average of $74.03. The stock has a market capitalization of $8.32 billion, a PE ratio of 42.51, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.01. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. The business had revenue of $169.16 million for the quarter, compared to analyst estimates of $167.77 million. During the same quarter last year, the company earned $0.43 EPS. As a group, research analysts expect that Agree Realty will post 4.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in Agree Realty by 230.7% during the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 293 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in Agree Realty during the 4th quarter valued at $31,000. Capital Advisors Ltd. LLC lifted its holdings 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 worth $36,000 after buying an additional 270 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of Agree Realty by 72.8% during the fourth quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 235 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in Agree Realty in the first quarter valued at about $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.