Agree Realty Co. (NYSE:ADC) Receives $79.07 Average Target Price from Brokerages

Agree Realty Co. (NYSE:ADC) has earned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $78.93.

ADC has been the subject of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $79.00 to $84.00 in a research note on Monday, January 6th. Barclays cut their target price on shares of Agree Realty from $76.00 to $74.00 and set an “underweight” rating for the company in a research report on Tuesday. Robert W. Baird boosted their price target on shares of Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Friday, January 31st.

Hedge Funds Weigh In On Agree Realty

Institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc lifted its stake in Agree Realty by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 153 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Agree Realty by 17.3% in the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 168 shares during the period. Private Advisor Group LLC lifted its stake in shares of Agree Realty by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 170 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Agree Realty by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 58,934 shares of the real estate investment trust’s stock valued at $4,438,000 after acquiring an additional 224 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Agree Realty by 34.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 230 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Stock Performance

NYSE ADC opened at $72.88 on Monday. 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 $7.54 billion, a PE ratio of 40.26, a price-to-earnings-growth ratio of 2.56 and a beta of 0.65. Agree Realty has a 52-week low of $54.28 and a 52-week high of $78.39. The company has a 50-day simple moving average of $72.19 and a 200 day simple moving average of $73.29.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.253 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.04 dividend on an annualized basis and a yield of 4.17%. Agree Realty’s dividend payout ratio is presently 167.40%.

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.