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

StockNews.com upgraded shares of Agree Realty (NYSE:ADC) from a sell rating to a hold rating in a research report released on Sunday morning.

ADC has been the subject of a number of other research reports. Robert W. Baird upped their price objective on Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. BTIG Research upped their price target on Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Citizens Jmp lowered shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Barclays lowered their target price on shares of Agree Realty from $76.00 to $74.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Finally, UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $79.00 to $84.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.62.

Agree Realty Stock Down 0.1 %

Shares of NYSE:ADC opened at $70.95 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 39.20, a P/E/G ratio of 2.87 and a beta of 0.65. The company has a 50 day moving average of $71.64 and a 200-day moving average of $73.52. Agree Realty has a one year low of $54.28 and a one year high of $78.39.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a net margin of 31.62% and a return on equity of 3.77%. On average, sell-side analysts forecast that Agree Realty will post 4.13 earnings per share for the current year.

Agree Realty Dividend Announcement

The company also recently disclosed a feb 25 dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.253 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 4.2%. Agree Realty’s payout ratio is presently 170.22%.

Institutional Investors Weigh In On Agree Realty

Several institutional investors have recently bought and sold shares of ADC. PharVision Advisers LLC acquired a new stake in shares of Agree Realty in the fourth quarter valued at approximately $220,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Agree Realty by 524.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 707,421 shares of the real estate investment trust’s stock valued at $49,838,000 after buying an additional 594,080 shares during the last quarter. Voloridge Investment Management LLC lifted its position in Agree Realty by 55.1% during the 4th quarter. Voloridge Investment Management LLC now owns 775,106 shares of the real estate investment trust’s stock worth $54,606,000 after buying an additional 275,221 shares in the last quarter. Sophron Capital Management L.P. bought a new stake in Agree Realty during the 4th quarter worth about $13,393,000. Finally, Virtus Investment Advisers Inc. acquired a new position in shares of Agree Realty during the 4th quarter worth about $551,000. Institutional investors own 97.83% of the company’s stock.

About Agree Realty

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.