Agree Realty’s (ADC) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Agree Realty (NYSE:ADC) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $79.00 price target on the real estate investment trust’s stock.

ADC has been the subject of a number of other research reports. UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and raised their target price for the company from $79.00 to $84.00 in a research report on Monday, January 6th. Evercore ISI initiated coverage on shares of Agree Realty in a research report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 target price for the company. KeyCorp raised their target price on shares of Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 4th. StockNews.com raised shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, JMP Securities downgraded shares of Agree Realty from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.07.

Agree Realty Stock Up 1.6 %

Shares of ADC stock opened at $72.98 on Tuesday. The firm has a fifty day moving average of $72.53 and a 200-day moving average of $73.06. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. Agree Realty has a 12-month low of $54.28 and a 12-month high of $78.39. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 40.32, a P/E/G ratio of 2.52 and a beta of 0.64.

Agree Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.253 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Friday, January 31st. Agree Realty’s dividend payout ratio is presently 167.96%.

Institutional Trading of Agree Realty

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Securities Inc. raised its stake in Agree Realty by 26.2% in the 4th quarter. Principal Securities Inc. now owns 1,142 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 237 shares in the last quarter. Rhumbline Advisers increased its holdings in Agree Realty by 2.7% in the 4th quarter. Rhumbline Advisers now owns 318,379 shares of the real estate investment trust’s stock valued at $22,430,000 after buying an additional 8,276 shares during the period. Blue Trust Inc. increased its holdings in Agree Realty by 57.3% in the 4th quarter. Blue Trust Inc. now owns 4,913 shares of the real estate investment trust’s stock valued at $346,000 after buying an additional 1,790 shares during the period. Asset Management One Co. Ltd. increased its holdings in Agree Realty by 0.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 201,602 shares of the real estate investment trust’s stock valued at $14,173,000 after buying an additional 509 shares during the period. Finally, Pathway Financial Advisers LLC increased its holdings in Agree Realty by 2.8% in the 4th quarter. Pathway Financial Advisers LLC now owns 16,747 shares of the real estate investment trust’s stock valued at $1,180,000 after buying an additional 449 shares during the period. 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.