Agree Realty (NYSE:ADC) Rating Lowered to Sell at 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 Friday.

ADC has been the subject of a number of other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $79.00 target price on shares of Agree Realty in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Agree Realty in a research note on Wednesday, December 11th. They issued a “buy” rating and a $88.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Mizuho decreased their target price on shares of Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, 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 report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.07.

Agree Realty Stock Down 0.7 %

Shares of NYSE ADC opened at $72.60 on Friday. Agree Realty has a 12 month low of $54.28 and a 12 month high of $78.39. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $72.45 and a two-hundred day simple moving average of $73.16. The firm has a market capitalization of $7.52 billion, a PE ratio of 40.11, a price-to-earnings-growth ratio of 2.54 and a beta of 0.64.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ADC. FMR LLC raised its position in shares of Agree Realty by 729.3% during the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock valued at $168,648,000 after purchasing an additional 1,968,811 shares during the period. Pathway Financial Advisers LLC raised its holdings in Agree Realty by 9,118.1% during the third quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust’s stock valued at $92,487,000 after acquiring an additional 1,214,437 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Agree Realty by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after acquiring an additional 990,362 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Agree Realty by 29.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock worth $177,030,000 after purchasing an additional 534,545 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in Agree Realty by 92.6% during the 3rd quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock valued at $53,815,000 after purchasing an additional 343,400 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

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.