Agree Realty (NYSE:ADC) Stock Rating Lowered by StockNews.com

Agree Realty (NYSE:ADC) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

ADC has been the subject of several other reports. BTIG Research lifted their price objective on shares of Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Robert W. Baird boosted their price target on Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada lifted their target price on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus increased their price target on shares of Agree Realty from $67.50 to $71.50 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company decreased their price objective 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.73.

Agree Realty Stock Down 1.4 %

NYSE:ADC traded down $1.08 during mid-day trading on Thursday, hitting $75.57. 788,294 shares of the company’s stock traded hands, compared to its average volume of 971,624. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $7.82 billion, a P/E ratio of 41.75, a P/E/G ratio of 3.10 and a beta of 0.61. The company has a fifty day moving average of $75.00 and a 200 day moving average of $68.30. Agree Realty has a twelve month low of $54.28 and a twelve month high of $77.47.

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 (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.61). The company had revenue of $154.33 million for the quarter, compared to analyst estimates of $152.83 million. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. On average, analysts forecast that Agree Realty will post 4.11 EPS for the current year.

Institutional Trading of Agree Realty

Several institutional investors have recently bought and sold shares of ADC. MCF Advisors LLC purchased a new stake in Agree Realty in the 2nd quarter worth $26,000. Massmutual Trust Co. FSB ADV boosted its stake in Agree Realty by 248.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 620 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 442 shares during the last quarter. UMB Bank n.a. grew its holdings 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 worth $73,000 after buying an additional 299 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Agree Realty in the third quarter valued at about $75,000. Finally, Headlands Technologies LLC lifted its stake in shares of 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 buying an additional 798 shares in the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

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.