Brokerages Set Agree Realty Co. (NYSE:ADC) Target Price at $65.50

Shares of Agree Realty Co. (NYSE:ADC) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $65.50.

A number of analysts have issued reports on the stock. UBS Group initiated coverage on shares of Agree Realty in a research note on Friday, May 31st. They set a “neutral” rating and a $60.00 price target on the stock. Mizuho raised their price target on shares of Agree Realty from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. StockNews.com raised Agree Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Finally, KeyCorp assumed coverage on Agree Realty in a research note on Wednesday, June 12th. They set an “overweight” rating and a $68.00 target price for the company.

Agree Realty Trading Up 0.9 %

Shares of NYSE ADC opened at $61.65 on Friday. The stock has a fifty day simple moving average of $59.85 and a 200-day simple moving average of $59.19. Agree Realty has a twelve month low of $52.69 and a twelve month high of $69.26. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $6.20 billion, a PE ratio of 36.26, a PEG ratio of 2.40 and a beta of 0.56.

Agree Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Friday, June 28th. Agree Realty’s payout ratio is currently 176.47%.

Insider Buying and Selling at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $58.99 per share, with a total value of $58,990.00. Following the acquisition, the director now directly owns 23,036 shares of the company’s stock, valued at approximately $1,358,893.64. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

Institutional Trading of Agree Realty

Several hedge funds have recently made changes to their positions in the company. HBC Financial Services PLLC purchased a new position in shares of Agree Realty during the 4th quarter worth approximately $31,000. Lindbrook Capital LLC raised its position in 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. lifted 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 acquiring an additional 512 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Agree Realty during the 4th quarter worth $44,000. Finally, Jamison Private Wealth Management Inc. grew its stake in shares of 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 period. Institutional investors and hedge funds own 97.83% of the company’s stock.

Agree Realty Company Profile

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.