Agree Realty Co. (NYSE:ADC) Receives Average Rating of “Moderate Buy” from Analysts

Agree Realty Co. (NYSE:ADC) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $78.18.

ADC has been the subject of several analyst reports. BTIG Research raised their price target on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Robert W. Baird boosted their price target on Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. StockNews.com cut Agree Realty from a “hold” rating to a “sell” rating in a research report on Monday, December 9th. UBS Group upped their target price on shares of Agree Realty from $77.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company reduced their price target on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, November 4th.

Agree Realty Stock Up 1.4 %

Shares of NYSE:ADC opened at $74.66 on Friday. Agree Realty has a 12-month low of $54.28 and a 12-month high of $78.39. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 3.66 and a beta of 0.62. The stock has a fifty day simple moving average of $75.23 and a two-hundred day simple moving average of $70.84. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). The firm had revenue of $154.33 million during 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 business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 EPS. On average, research analysts anticipate that Agree Realty will post 4.12 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.253 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.04 annualized dividend and a yield of 4.07%. Agree Realty’s dividend payout ratio (DPR) is presently 167.96%.

Institutional Trading of Agree Realty

Hedge funds have recently bought and sold shares of the stock. MCF Advisors LLC bought a new position in shares of Agree Realty in the second quarter worth about $26,000. Headlands Technologies LLC increased its holdings in Agree Realty by 232.0% in the 2nd quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 798 shares in the last quarter. UMB Bank n.a. raised its stake in Agree Realty by 44.5% during the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 299 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Agree Realty during the third quarter valued at approximately $75,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Agree Realty in the third quarter worth approximately $77,000. Institutional investors own 97.83% of the company’s stock.

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.