Agree Realty (NYSE:ADC) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Agree Realty (NYSE:ADCFree Report) from a sell rating to a hold rating in a report published on Tuesday morning.

ADC has been the subject of several other reports. Royal Bank of Canada dropped their target price on shares of Agree Realty from $67.00 to $63.00 and set an outperform rating for the company in a research report on Thursday, February 15th. BMO Capital Markets began coverage on shares of Agree Realty in a research report on Tuesday, February 13th. They set an outperform rating and a $69.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of Agree Realty from $66.00 to $62.00 and set an overweight rating for the company in a report on Tuesday, February 20th. Mizuho increased their target price on shares of Agree Realty from $60.00 to $62.00 and gave the company a neutral rating in a report on Friday, May 10th. Finally, Truist Financial lowered their price target on shares of Agree Realty from $70.00 to $68.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $65.50.

View Our Latest Stock Report on Agree Realty

Agree Realty Trading Up 1.2 %

Shares of ADC stock opened at $60.92 on Tuesday. The company has a market capitalization of $6.13 billion, a PE ratio of 35.84, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. Agree Realty has a 52-week low of $52.69 and a 52-week high of $69.26. The business’s fifty day moving average is $58.83 and its 200 day moving average is $59.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.71 and a current ratio of 0.71.

Agree Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Friday, June 28th. Agree Realty’s payout ratio is 176.47%.

Insider Transactions at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl purchased 1,000 shares of Agree Realty stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $58.99 per share, for a total transaction of $58,990.00. Following the acquisition, the director now directly owns 23,036 shares in the company, valued at $1,358,893.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Agree Realty

Large investors have recently added to or reduced their stakes in the stock. HBC Financial Services PLLC bought a new position in Agree Realty in the 4th quarter worth $31,000. Lindbrook Capital LLC increased its position in shares of Agree Realty by 267.1% during the fourth quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 430 shares during the period. UMB Bank n.a. increased its position in shares of Agree Realty by 247.3% during the first quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 512 shares during the period. Jamison Private Wealth Management Inc. raised its stake in Agree Realty by 96.6% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 741 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 364 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Agree Realty in the fourth quarter worth about $44,000. Institutional investors own 97.83% of the company’s stock.

About Agree Realty

(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.

Further Reading

Analyst Recommendations for Agree Realty (NYSE:ADC)

Receive News & Ratings for Agree Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agree Realty and related companies with MarketBeat.com's FREE daily email newsletter.