Wall Street Zen Downgrades Agree Realty (NYSE:ADC) to Sell

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

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, October 8th. Mizuho dropped their target price on shares of Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Royal Bank Of Canada cut their target price on Agree Realty from $80.00 to $79.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. Evercore ISI lowered their price target on Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Finally, Stifel Nicolaus set a $83.50 price objective on Agree Realty in a report on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.23.

Agree Realty Price Performance

ADC opened at $70.45 on Friday. The stock’s 50 day simple moving average is $72.85 and its 200 day simple moving average is $72.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.68 and a quick ratio of 0.68. Agree Realty has a 1 year low of $67.58 and a 1 year high of $79.65. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.18 and a beta of 0.55.

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

Insider Activity

In related news, Director John Rakolta, Jr. purchased 15,000 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were purchased at an average cost of $72.18 per share, with a total value of $1,082,700.00. Following the transaction, the director directly owned 562,606 shares in the company, valued at $40,608,901.08. This trade represents a 2.74% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in Agree Realty by 37.4% in the 4th quarter. SG Americas Securities LLC now owns 11,635 shares of the real estate investment trust’s stock worth $838,000 after acquiring an additional 3,167 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Agree Realty by 221.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 44,739 shares of the real estate investment trust’s stock worth $3,154,000 after purchasing an additional 30,824 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Agree Realty by 21.9% in the 4th quarter. GAMMA Investing LLC now owns 3,883 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 697 shares in the last quarter. Allworth Financial LP raised its stake in shares of Agree Realty by 23.2% in the third quarter. Allworth Financial LP now owns 1,098 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 207 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Agree Realty by 18.2% during the third quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other 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.