Barclays Begins Coverage on Agree Realty (NYSE:ADC)

Barclays started coverage on shares of Agree Realty (NYSE:ADC) in a research report released on Tuesday morning, MarketBeat.com reports. The firm issued an underweight rating and a $76.00 price target on the real estate investment trust’s stock.

ADC has been the subject of several other research reports. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research note on Tuesday. UBS Group raised their target price on Agree Realty from $77.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Royal Bank of Canada lifted their price target on Agree Realty from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and an average target price of $78.03.

Agree Realty Stock Down 1.7 %

NYSE ADC opened at $69.44 on Tuesday. The company has a market capitalization of $7.19 billion, a P/E ratio of 38.36, a PEG ratio of 3.66 and a beta of 0.62. Agree Realty has a 12 month low of $54.28 and a 12 month high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The company’s 50 day simple moving average is $75.10 and its 200 day simple moving average is $71.09.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.42 EPS for the quarter, missing analysts’ consensus estimates 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%. Agree Realty’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $1.00 EPS. Equities research analysts expect that Agree Realty will post 4.12 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.253 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Tuesday, December 31st. Agree Realty’s dividend payout ratio is presently 167.40%.

Institutional Trading of Agree Realty

Institutional investors and hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC bought a new stake in Agree Realty during the second quarter worth approximately $26,000. Headlands Technologies LLC boosted its holdings in shares of Agree Realty by 232.0% during the 2nd 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 during the period. UMB Bank n.a. grew its stake in Agree Realty by 44.5% in the 3rd 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 bought a new position in shares of Agree Realty in the third quarter worth about $75,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Agree Realty during the 3rd quarter worth about $77,000. Institutional investors and hedge funds 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.