Agree Realty (NYSE:ADC) Price Target Lowered to $80.00 at Mizuho

Agree Realty (NYSE:ADC) had its price target lowered by Mizuho from $86.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective points to a potential upside of 4.48% from the stock’s previous close.

Several other research firms have also issued reports 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 note on Wednesday, February 11th. Robert W. Baird upped their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Truist Financial upped their target price on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Weiss Ratings upgraded shares of Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 6th. Finally, Royal Bank Of Canada upped their target price on shares of Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and an average price target of $83.93.

Agree Realty Stock Performance

Shares of ADC stock opened at $76.57 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $77.69 and a two-hundred day simple moving average of $75.12. Agree Realty has a 12 month low of $69.56 and a 12 month high of $82.08. The firm has a market capitalization of $9.20 billion, a PE ratio of 41.39, a price-to-earnings-growth ratio of 2.61 and a beta of 0.50.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Analysts forecast that Agree Realty will post 4.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Agree Realty

Several institutional investors have recently added to or reduced their stakes in ADC. Principal Financial Group Inc. grew its position in Agree Realty by 80.8% during the fourth quarter. Principal Financial Group Inc. now owns 4,293,556 shares of the real estate investment trust’s stock valued at $309,266,000 after buying an additional 1,918,427 shares during the period. Norges Bank bought a new position in Agree Realty during the fourth quarter valued at about $116,114,000. Engineers Gate Manager LP grew its position in Agree Realty by 3,043.2% during the fourth quarter. Engineers Gate Manager LP now owns 1,182,229 shares of the real estate investment trust’s stock valued at $85,156,000 after buying an additional 1,144,617 shares during the period. JPMorgan Chase & Co. grew its position in Agree Realty by 41.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,843,441 shares of the real estate investment trust’s stock valued at $204,813,000 after buying an additional 826,719 shares during the period. Finally, Cohen & Steers Inc. grew its position in Agree Realty by 4.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock valued at $1,015,324,000 after buying an additional 649,301 shares during the period. 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.