Agree Realty (NYSE:ADC) Price Target Raised to $91.00

Agree Realty (NYSE:ADC) had its target price increased by UBS Group from $82.00 to $91.00 in a report published on Monday morning,Benzinga reports. UBS Group currently has a buy rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on ADC. Barclays raised their target price on Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 3rd. Weiss Ratings raised Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 3rd. Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, January 27th. Evercore dropped their target price on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Finally, Royal Bank Of Canada lifted their price target on shares of Agree Realty from $79.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and an average target price of $82.32.

Agree Realty Stock Down 0.9%

Shares of ADC opened at $79.76 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $9.57 billion, a P/E ratio of 45.06, a PEG ratio of 3.13 and a beta of 0.52. Agree Realty has a one year low of $68.98 and a one year high of $82.08. The business’s 50 day simple moving average is $75.39 and its 200-day simple moving average is $73.69.

Agree Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.262 dividend. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, March 31st. Agree Realty’s payout ratio is presently 177.40%.

Insiders Place Their Bets

In other Agree Realty news, Director John Rakolta, Jr. purchased 15,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were purchased at an average cost of $72.18 per share, with a total value of $1,082,700.00. Following the transaction, the director directly owned 562,606 shares of the company’s stock, valued at $40,608,901.08. This represents a 2.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard Agree bought 24,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The shares were bought at an average price of $70.67 per share, for a total transaction of $1,696,080.00. Following the acquisition, the chairman directly owned 159,855 shares of the company’s stock, valued at $11,296,952.85. This represents a 17.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 39,500 shares of company stock valued at $2,813,680 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Agree Realty

Several large investors have recently made changes to their positions in the stock. Corient Private Wealth LLC increased its holdings in Agree Realty by 25.0% during the fourth quarter. Corient Private Wealth LLC now owns 7,298 shares of the real estate investment trust’s stock worth $526,000 after buying an additional 1,458 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Agree Realty by 25.5% in the fourth quarter. Hsbc Holdings PLC now owns 295,693 shares of the real estate investment trust’s stock valued at $21,299,000 after acquiring an additional 60,159 shares during the last quarter. Pure Financial Advisors LLC acquired a new stake in Agree Realty in the fourth quarter valued at $244,000. Compound Planning Inc. grew its position in shares of Agree Realty by 18.2% in the 4th quarter. Compound Planning Inc. now owns 4,177 shares of the real estate investment trust’s stock valued at $301,000 after acquiring an additional 643 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Agree Realty by 11.0% during the 4th quarter. Invesco Ltd. now owns 468,934 shares of the real estate investment trust’s stock worth $33,777,000 after purchasing an additional 46,492 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

About Agree Realty

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.