Agree Realty (NYSE:ADC) Rating Lowered to “Sell” at Wall Street Zen

Agree Realty (NYSE:ADC) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Several other equities research analysts have also issued reports on ADC. Truist Financial decreased their price target on shares of Agree Realty from $84.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Royal Bank Of Canada reduced their price objective on Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, October 8th. Evercore ISI lowered their target price on Agree Realty from $85.00 to $83.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. Finally, Barclays increased their price target on Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 3rd. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.23.

Agree Realty Trading Up 1.2%

Shares of Agree Realty stock opened at $71.35 on Friday. The stock has a fifty day moving average price of $72.82 and a 200-day moving average price of $72.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $8.20 billion, a PE ratio of 41.73, a P/E/G ratio of 2.19 and a beta of 0.55. Agree Realty has a 1 year low of $68.10 and a 1 year high of $79.65.

Agree Realty (NYSE:ADC) last posted its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.02. The company had revenue of $183.22 million during the quarter, compared to analyst estimates of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. Equities research analysts anticipate that Agree Realty will post 4.27 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Richard Agree bought 24,000 shares of the business’s stock in a transaction on Friday, January 9th. The stock was acquired at an average price of $70.67 per share, for a total transaction of $1,696,080.00. Following the purchase, the chairman directly owned 159,855 shares in the company, valued at $11,296,952.85. This trade represents a 17.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Rakolta, Jr. bought 15,000 shares of Agree Realty stock in a transaction on Wednesday, December 24th. The shares were bought at an average cost of $72.18 per share, with a total value of $1,082,700.00. Following the acquisition, the director directly owned 562,606 shares in the company, valued at approximately $40,608,901.08. This represents a 2.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.80% of the company’s stock.

Institutional Trading of Agree Realty

A number of large investors have recently modified their holdings of ADC. AE Wealth Management LLC increased its position in shares of Agree Realty by 3.5% in the third quarter. AE Wealth Management LLC now owns 4,653 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 156 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Agree Realty by 18.2% in the 3rd quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 171 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Agree Realty by 5.4% during the 3rd quarter. QRG Capital Management Inc. now owns 3,395 shares of the real estate investment trust’s stock valued at $241,000 after buying an additional 174 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Agree Realty by 5.8% during the 3rd quarter. HighPoint Advisor Group LLC now owns 3,162 shares of the real estate investment trust’s stock worth $225,000 after acquiring an additional 174 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Agree Realty by 3.4% during the 2nd quarter. Corient Private Wealth LLC now owns 6,217 shares of the real estate investment trust’s stock worth $454,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.