Agree Realty (NYSE:ADC) Rating Lowered to “Sell” at StockNews.com

Agree Realty (NYSE:ADC) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Several other research firms have also issued reports on ADC. Deutsche Bank Aktiengesellschaft began coverage on shares of Agree Realty in a report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price target for the company. JMP Securities lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Stifel Nicolaus lowered their price target on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial raised their price objective on shares of Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI initiated coverage on shares of Agree Realty in a research report on Thursday, December 12th. They set an “outperform” rating and a $82.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Agree Realty Stock Down 0.6 %

Shares of NYSE ADC opened at $69.65 on Tuesday. The company has a 50 day simple moving average of $73.87 and a 200 day simple moving average of $72.08. The firm has a market cap of $7.21 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 3.66 and a beta of 0.64. Agree Realty has a 1 year low of $54.28 and a 1 year high of $78.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.66 and a quick ratio of 0.66.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.61). Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The firm had revenue of $154.33 million for the quarter, compared to the consensus estimate of $152.83 million. During the same quarter in the previous year, the business posted $1.00 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts forecast that Agree Realty will post 4.12 EPS for the current year.

Hedge Funds Weigh In On Agree Realty

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Agree Realty by 34.5% during the 4th quarter. GAMMA Investing LLC now owns 2,897 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 743 shares in the last quarter. Versant Capital Management Inc lifted its stake in Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 293 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Agree Realty by 37.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock valued at $274,693,000 after acquiring an additional 990,362 shares in the last quarter. Franklin Resources Inc. lifted its stake in Agree Realty by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 66,153 shares of the real estate investment trust’s stock valued at $4,917,000 after acquiring an additional 5,039 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Agree Realty during the 3rd quarter valued at $77,000. 97.83% of the stock is currently owned by institutional investors.

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.