Wall Street Zen Downgrades Agree Realty (NYSE:ADC) to Sell

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

A number of other analysts also recently weighed in on ADC. Stifel Nicolaus upped their target price on shares of Agree Realty from $83.50 to $84.50 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Mizuho upped their target price on shares of Agree Realty from $75.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. UBS Group upped their target price on shares of Agree Realty from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. BMO Capital Markets downgraded shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price on the stock. in a research report on Friday. Finally, Royal Bank Of Canada upped their target price on shares of Agree Realty from $79.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.42.

Agree Realty Stock Up 0.0%

Shares of Agree Realty stock opened at $79.46 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $78.03 and its two-hundred day simple moving average is $74.68. The company has a market cap of $9.54 billion, a P/E ratio of 44.89, a PEG ratio of 2.68 and a beta of 0.53. Agree Realty has a 12-month low of $69.56 and a 12-month high of $82.08.

Hedge Funds Weigh In On Agree Realty

Hedge funds have recently bought and sold shares of the company. Clearstead Trust LLC boosted its stake in Agree Realty by 192.1% in the 4th quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 242 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Agree Realty by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 215 shares in the last quarter. Wiser Advisor Group LLC bought a new position in Agree Realty in the 3rd quarter worth about $32,000. Clearstead Advisors LLC boosted its stake in Agree Realty by 163.8% in the 4th quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 285 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in Agree Realty by 71.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 192 shares in the last quarter. Institutional investors 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.