Agree Realty (NYSE:ADC) Coverage Initiated at KeyCorp

KeyCorp assumed coverage on shares of Agree Realty (NYSE:ADCGet Free Report) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $68.00 price target on the real estate investment trust’s stock. KeyCorp’s price objective points to a potential upside of 11.62% from the stock’s previous close.

A number of other brokerages have also weighed in on ADC. Wells Fargo & Company cut their target price on Agree Realty from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. BMO Capital Markets assumed coverage on Agree Realty in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $69.00 price target for the company. Mizuho upped their price objective on shares of Agree Realty from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Truist Financial reduced their target price on Agree Realty from $70.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Finally, Royal Bank of Canada decreased their price target on shares of Agree Realty from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Agree Realty has an average rating of “Moderate Buy” and a consensus target price of $65.50.

View Our Latest Report on Agree Realty

Agree Realty Stock Up 1.2 %

NYSE:ADC opened at $60.92 on Wednesday. The stock has a market capitalization of $6.13 billion, a P/E ratio of 35.84, a P/E/G ratio of 2.38 and a beta of 0.56. Agree Realty has a fifty-two week low of $52.69 and a fifty-two week high of $69.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50-day simple moving average is $58.83 and its 200-day simple moving average is $59.07.

Insider Activity

In other Agree Realty news, Director Greg Lehmkuhl purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $58.99 per share, with a total value of $58,990.00. Following the transaction, the director now owns 23,036 shares in the company, valued at $1,358,893.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Trading of Agree Realty

A number of hedge funds have recently made changes to their positions in ADC. HBC Financial Services PLLC purchased a new stake in Agree Realty during the 4th quarter worth $31,000. Lindbrook Capital LLC lifted its stake in shares of Agree Realty by 267.1% in the fourth quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 430 shares in the last quarter. UMB Bank n.a. boosted its holdings in Agree Realty by 247.3% in the first quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 512 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Agree Realty during the 4th quarter valued at approximately $44,000. Finally, Jamison Private Wealth Management Inc. increased its holdings in Agree Realty by 96.6% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 741 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Company Profile

(Get Free Report)

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.

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