Weiss Ratings Reiterates Hold (C+) Rating for Agree Realty (NYSE:ADC)

Agree Realty (NYSE:ADC)‘s stock had its “hold (c+)” rating reiterated by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

ADC has been the topic of a number of other reports. Mizuho reduced their target price on shares of Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Evercore ISI upped their price target on shares of Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 15th. UBS Group upped their price target on shares of Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Finally, Truist Financial set a $84.00 price target on shares of Agree Realty in a report on Friday, August 8th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and an average target price of $80.63.

Agree Realty Stock Up 0.1%

Shares of ADC stock opened at $70.62 on Wednesday. The stock has a market cap of $7.82 billion, a P/E ratio of 42.04, a PEG ratio of 2.29 and a beta of 0.55. Agree Realty has a 52 week low of $67.58 and a 52 week high of $79.65. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $72.24 and its two-hundred day simple moving average is $73.73.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, topping the consensus estimate of $1.05 by $0.01. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The business had revenue of $175.53 million for the quarter, compared to analysts’ expectations of $173.95 million. During the same quarter in the previous year, the company earned $1.04 EPS. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. Analysts predict that Agree Realty will post 4.27 EPS for the current fiscal year.

Insider Activity at Agree Realty

In related news, Director Greg Lehmkuhl acquired 750 shares of the stock in a transaction on Friday, September 5th. The stock was bought at an average cost of $72.84 per share, with a total value of $54,630.00. Following the transaction, the director directly owned 27,684 shares in the company, valued at approximately $2,016,502.56. This represents a 2.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Craig Erlich purchased 360 shares of the stock in a transaction dated Friday, October 3rd. The stock was acquired at an average cost of $70.84 per share, with a total value of $25,502.40. Following the transaction, the insider directly owned 52,846 shares in the company, valued at approximately $3,743,610.64. This trade represents a 0.69% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 36,742 shares of company stock valued at $2,601,704 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

A number of hedge funds and other institutional investors have recently bought and sold shares of ADC. Nuveen LLC purchased a new stake in Agree Realty during the first quarter valued at approximately $64,759,000. Westwood Holdings Group Inc. purchased a new stake in Agree Realty during the second quarter valued at approximately $65,376,000. Norges Bank purchased a new stake in Agree Realty during the second quarter valued at approximately $65,030,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Agree Realty during the first quarter valued at approximately $41,114,000. Finally, Burkehill Global Management LP lifted its position in Agree Realty by 450.0% during the first quarter. Burkehill Global Management LP now owns 550,000 shares of the real estate investment trust’s stock valued at $42,454,000 after acquiring an additional 450,000 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

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.