Agree Realty (NYSE:ADC) Price Target Lowered to $84.00 at UBS Group

Agree Realty (NYSE:ADC) had its target price cut by equities researchers at UBS Group from $86.00 to $84.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s target price would indicate a potential upside of 15.89% from the company’s current price.

Several other analysts have also recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Agree Realty in a research note on Wednesday, April 30th. Barclays upgraded Agree Realty from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $74.00 to $75.00 in a report on Tuesday, March 4th. Robert W. Baird boosted their price target on Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Truist Financial upped their price target on Agree Realty from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, StockNews.com cut Agree Realty from a “hold” rating to a “sell” rating in a report on Sunday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.04.

Agree Realty Stock Performance

NYSE ADC opened at $72.48 on Tuesday. The business’s 50-day moving average price is $75.77 and its 200 day moving average price is $74.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. Agree Realty has a twelve month low of $58.52 and a twelve month high of $79.65. The company has a market capitalization of $7.97 billion, a PE ratio of 40.72, a price-to-earnings-growth ratio of 2.88 and a beta of 0.57.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.01. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. The business had revenue of $169.16 million for the quarter, compared to analyst estimates of $167.77 million. During the same period in the prior year, the firm posted $0.43 EPS. On average, research analysts predict that Agree Realty will post 4.27 earnings per share for the current year.

Institutional Trading of Agree Realty

Several large investors have recently bought and sold shares of ADC. Barclays PLC lifted its position in shares of Agree Realty by 129.4% during the third quarter. Barclays PLC now owns 239,783 shares of the real estate investment trust’s stock worth $18,062,000 after purchasing an additional 135,274 shares in the last quarter. Franklin Resources Inc. increased its stake in Agree Realty by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 66,153 shares of the real estate investment trust’s stock worth $4,917,000 after buying an additional 5,039 shares during the period. JPMorgan Chase & Co. lifted its holdings in Agree Realty by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after buying an additional 990,362 shares in the last quarter. Community Trust & Investment Co. lifted its holdings in Agree Realty by 2.7% in the 4th quarter. Community Trust & Investment Co. now owns 48,992 shares of the real estate investment trust’s stock worth $3,451,000 after buying an additional 1,275 shares in the last quarter. Finally, Rockland Trust Co. purchased a new position in Agree Realty in the 4th quarter valued at about $213,000. 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.