Agree Realty (NYSE:ADC) Stock Price Expected to Rise, Mizuho Analyst Says

Agree Realty (NYSE:ADC) had its price target upped by stock analysts at Mizuho from $75.00 to $80.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price would suggest a potential upside of 5.33% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Agree Realty from $67.50 to $71.50 and gave the company a “buy” rating in a research report on Wednesday, July 24th. UBS Group lifted their price objective on shares of Agree Realty from $72.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. BTIG Research increased their target price on shares of Agree Realty from $65.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada boosted their price target on Agree Realty from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lowered their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.73.

Agree Realty Price Performance

NYSE ADC opened at $75.96 on Thursday. 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 firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 3.11 and a beta of 0.61. The company has a 50 day simple moving average of $75.03 and a 200-day simple moving average of $68.48. Agree Realty has a 52-week low of $54.28 and a 52-week high of $77.47.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The company had revenue of $154.33 million during the quarter, compared to analysts’ expectations of $152.83 million. During the same quarter in the previous year, the company earned $1.00 EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts predict that Agree Realty will post 4.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC acquired a new stake in Agree Realty during the second quarter worth about $26,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of 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 in the last quarter. Headlands Technologies LLC increased its position in shares of Agree Realty by 232.0% during the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 798 shares during the period. UMB Bank n.a. increased its position 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 valued at $73,000 after purchasing an additional 299 shares during the period. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of Agree Realty in the third quarter valued at $75,000. Institutional investors own 97.83% of the company’s stock.

About Agree Realty

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.