Agree Realty (NYSE:ADC) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Agree Realty (NYSE:ADC) from a sell rating to a hold rating in a report issued on Monday.

A number of other research analysts also recently issued reports on ADC. Stifel Nicolaus boosted their target price on shares of Agree Realty from $81.00 to $82.50 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. JMP Securities reiterated a “market perform” rating on shares of Agree Realty in a research report on Friday. BTIG Research downgraded shares of Agree Realty from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 7th. Wells Fargo & Company boosted their target price on shares of Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. Finally, Robert W. Baird boosted their target price on shares of Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and an average price target of $81.04.

Agree Realty Stock Up 1.0%

NYSE:ADC opened at $75.64 on Monday. The firm’s 50 day simple moving average is $75.70 and its 200 day simple moving average is $74.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. Agree Realty has a one year low of $58.52 and a one year high of $79.65. The company has a market cap of $8.32 billion, a PE ratio of 42.49, a P/E/G ratio of 2.88 and a beta of 0.57.

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

Agree Realty Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.256 dividend. This represents a $3.07 annualized dividend and a yield of 4.06%. This is an increase from Agree Realty’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Friday, May 30th. Agree Realty’s dividend payout ratio (DPR) is presently 173.45%.

Institutional Investors Weigh In On Agree Realty

A number of large investors have recently made changes to their positions in ADC. Jane Street Group LLC grew its stake in shares of Agree Realty by 268.9% during the 1st quarter. Jane Street Group LLC now owns 27,365 shares of the real estate investment trust’s stock valued at $2,112,000 after acquiring an additional 19,948 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Agree Realty during the 1st quarter worth approximately $269,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Agree Realty by 3.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 733,623 shares of the real estate investment trust’s stock valued at $56,628,000 after buying an additional 26,202 shares during the period. Ascent Group LLC purchased a new stake in Agree Realty during the 1st quarter valued at $2,459,000. Finally, United Services Automobile Association purchased a new stake in Agree Realty during the 1st quarter valued at $502,000. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Company Profile

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.