Agree Realty (NYSE:ADC) Upgraded by Wall Street Zen to “Hold” Rating

Agree Realty (NYSE:ADC) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other research analysts also recently issued reports about the stock. Evercore ISI cut their price objective on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Truist Financial cut their price target on Agree Realty from $84.00 to $82.00 and set a “buy” rating for the company in a report on Friday, October 24th. Barclays lifted their price target on Agree Realty from $77.00 to $78.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 3rd. Mizuho dropped their price objective on Agree Realty from $77.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Finally, Stifel Nicolaus set a $83.50 target price on Agree Realty in a research note on Tuesday, November 25th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Agree Realty has a consensus rating of “Moderate Buy” and a consensus price target of $80.32.

Agree Realty Stock Up 0.1%

ADC stock opened at $72.14 on Friday. The stock has a fifty day moving average of $73.13 and a 200-day moving average of $72.88. Agree Realty has a fifty-two week low of $67.58 and a fifty-two week high of $79.65. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 42.18, a PEG ratio of 2.22 and a beta of 0.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. The business had revenue of $183.22 million for the quarter, compared to the consensus estimate of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, equities research analysts predict that Agree Realty will post 4.27 earnings per share for the current year.

Insider Activity

In other Agree Realty news, Director John Rakolta, Jr. purchased 15,000 shares of the company’s stock in a transaction dated Wednesday, December 24th. The stock was purchased at an average price of $72.18 per share, for a total transaction of $1,082,700.00. Following the transaction, the director owned 562,606 shares in the company, valued at $40,608,901.08. The trade was a 2.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Agree Realty

A number of hedge funds have recently bought and sold shares of the company. Westwood Holdings Group Inc. purchased a new stake in Agree Realty in the 2nd quarter worth approximately $65,376,000. Norges Bank bought a new position in shares of Agree Realty during the second quarter valued at approximately $65,030,000. JPMorgan Chase & Co. lifted its stake in Agree Realty by 65.6% in the third quarter. JPMorgan Chase & Co. now owns 2,016,722 shares of the real estate investment trust’s stock worth $143,268,000 after acquiring an additional 799,185 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Agree Realty by 311.0% in the third quarter. Duff & Phelps Investment Management Co. now owns 838,570 shares of the real estate investment trust’s stock valued at $59,572,000 after acquiring an additional 634,520 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Agree Realty by 532.1% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 714,772 shares of the real estate investment trust’s stock valued at $50,777,000 after acquiring an additional 601,689 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

About Agree Realty

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.