Agree Realty (NYSE:ADC) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of Agree Realty (NYSE:ADC) in a research note issued on Tuesday, Marketbeat.com reports. The firm set an “underweight” rating and a $76.00 price target on the real estate investment trust’s stock. Barclays‘s price target indicates a potential upside of 2.64% from the stock’s current price.

Several other analysts have also issued reports on ADC. Raymond James increased their target price on Agree Realty from $70.00 to $81.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 21st. Robert W. Baird raised their price objective on Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. JMP Securities lowered Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price objective on the stock. Finally, UBS Group raised their price objective on Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and an average price target of $78.03.

Agree Realty Trading Down 0.8 %

NYSE:ADC opened at $74.05 on Tuesday. Agree Realty has a twelve month low of $54.28 and a twelve month high of $78.39. The company has a market cap of $7.67 billion, a P/E ratio of 40.91, a price-to-earnings-growth ratio of 3.66 and a beta of 0.62. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $75.23 and a two-hundred day moving average price of $70.92.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.61). The firm had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. As a group, analysts expect that Agree Realty will post 4.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Agree Realty

Hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC bought a new stake in Agree Realty in the second quarter worth approximately $26,000. UMB Bank n.a. boosted its position in shares of Agree Realty by 44.5% during the third quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 299 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Agree Realty during the third quarter valued at approximately $75,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Agree Realty during the third quarter valued at approximately $77,000. Finally, Headlands Technologies LLC boosted its position in Agree Realty by 232.0% in the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 798 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

About Agree Realty

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.