Truist Financial Issues Positive Forecast for Agree Realty (NYSE:ADC) Stock Price

Agree Realty (NYSE:ADC) had its price objective upped by Truist Financial from $77.00 to $82.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other equities analysts have also commented on ADC. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company boosted their target price on Agree Realty from $78.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Robert W. Baird raised their price target on Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Mizuho boosted their price objective on Agree Realty from $74.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Finally, UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $79.00 to $84.00 in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and an average target price of $81.04.

Agree Realty Stock Up 0.0 %

NYSE ADC opened at $76.39 on Monday. Agree Realty has a 1-year low of $58.18 and a 1-year high of $79.65. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 2.88 and a beta of 0.55. The stock’s 50 day moving average is $75.78 and its two-hundred day moving average is $74.10. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. The firm 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 period in the prior year, the business posted $0.43 earnings per share. Equities analysts forecast that Agree Realty will post 4.27 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The firm also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.256 per share. This represents a dividend yield of 4.1%. This is an increase from Agree Realty’s previous apr 25 dividend of $0.25. The ex-dividend date of this dividend is Wednesday, April 30th. Agree Realty’s payout ratio is 173.45%.

Institutional Trading of Agree Realty

A number of institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. boosted its position in shares of Agree Realty by 7.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,961 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 132 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake 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 buying an additional 139 shares during the period. CIBC Asset Management Inc boosted its holdings in Agree Realty by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 153 shares during the last quarter. Carmel Capital Partners LLC grew its position in shares of Agree Realty by 2.5% during the 4th quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust’s stock worth $486,000 after buying an additional 167 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Agree Realty by 17.3% in the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds 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.