UBS Group Increases Agree Realty (NYSE:ADC) Price Target to $91.00

Agree Realty (NYSE:ADC) had its price target upped by equities researchers at UBS Group from $82.00 to $91.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s target price indicates a potential upside of 12.40% from the company’s current price.

Other analysts also recently issued reports about the company. Wells Fargo & Company raised their target price on Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Stifel Nicolaus boosted their price target on shares of Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Wall Street Zen lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Tuesday, January 27th. Royal Bank Of Canada raised their price objective on shares of Agree Realty from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Barclays boosted their target price on shares of Agree Realty from $77.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, December 3rd. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.32.

Agree Realty Price Performance

Shares of NYSE:ADC traded down $0.39 during midday trading on Monday, hitting $80.96. The company had a trading volume of 1,586,887 shares, compared to its average volume of 1,388,949. Agree Realty has a twelve month low of $68.98 and a twelve month high of $82.08. The stock has a market cap of $9.72 billion, a price-to-earnings ratio of 45.74, a price-to-earnings-growth ratio of 3.16 and a beta of 0.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day simple moving average is $74.91 and its 200-day simple moving average is $73.55.

Insider Activity at Agree Realty

In related news, Director John Rakolta, Jr. purchased 15,000 shares of the company’s stock in a transaction on Wednesday, December 24th. The stock was acquired at an average cost of $72.18 per share, for a total transaction of $1,082,700.00. Following the completion of the transaction, the director directly owned 562,606 shares in the company, valued at approximately $40,608,901.08. The trade was a 2.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Peter Coughenour purchased 500 shares of Agree Realty stock in a transaction dated Friday, January 9th. The stock was bought at an average cost of $69.80 per share, for a total transaction of $34,900.00. Following the completion of the purchase, the chief financial officer directly owned 18,544 shares in the company, valued at approximately $1,294,371.20. This trade represents a 2.77% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 39,500 shares of company stock worth $2,813,680. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Agree Realty

Several institutional investors have recently added to or reduced their stakes in ADC. Clearstead Trust LLC raised its stake in shares of Agree Realty by 192.1% in the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 242 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 215 shares during the period. Wiser Advisor Group LLC acquired a new position in Agree Realty during the 3rd quarter worth $32,000. Creative Financial Designs Inc. ADV increased its holdings in Agree Realty by 71.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 192 shares during the period. Finally, Clearstead Advisors LLC increased its holdings in Agree Realty by 163.8% during the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds 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.