Analysts Set Agree Realty Co. (NYSE:ADC) Target Price at $70.96

Agree Realty Co. (NYSE:ADC) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $72.21.

ADC has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on Agree Realty from $67.50 to $71.50 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their target price on shares of Agree Realty from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. UBS Group increased their price target on shares of Agree Realty from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Raymond James boosted their price objective on shares of Agree Realty from $70.00 to $81.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC increased its holdings in shares of Agree Realty by 11.5% during the fourth quarter. Corient Private Wealth LLC now owns 7,645 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 787 shares in the last quarter. Parallel Advisors LLC increased its stake in Agree Realty by 35.9% during the 4th quarter. Parallel Advisors LLC now owns 1,129 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 298 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in Agree Realty by 8.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 43,960 shares of the real estate investment trust’s stock worth $2,767,000 after buying an additional 3,600 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Agree Realty by 1.5% in the fourth quarter. Eagle Asset Management Inc. now owns 112,982 shares of the real estate investment trust’s stock worth $7,112,000 after buying an additional 1,672 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Agree Realty during the fourth quarter valued at approximately $860,000. Institutional investors own 97.83% of the company’s stock.

Agree Realty Trading Down 0.6 %

Shares of ADC stock opened at $73.40 on Tuesday. The business has a 50-day moving average price of $73.52 and a two-hundred day moving average price of $64.93. Agree Realty has a 12-month low of $52.69 and a 12-month high of $77.30. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.54. The firm has a market cap of $7.39 billion, a P/E ratio of 43.18, a price-to-earnings-growth ratio of 2.51 and a beta of 0.61.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.52 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.51). Agree Realty had a return on equity of 3.72% and a net margin of 32.08%. The business had revenue of $152.58 million for the quarter, compared to analysts’ expectations of $150.35 million. During the same period last year, the business posted $0.98 earnings per share. The company’s revenue was up 17.5% compared to the same quarter last year. Equities analysts anticipate that Agree Realty will post 4.11 EPS for the current fiscal year.

Agree Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.09%. Agree Realty’s dividend payout ratio is currently 176.47%.

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.