StockNews.com Upgrades Agree Realty (NYSE:ADC) to “Hold”

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

ADC has been the subject of several other reports. Mizuho lowered their target price on Agree Realty from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. Wells Fargo & Company decreased their price objective on Agree Realty from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Stifel Nicolaus decreased their price objective on Agree Realty from $70.00 to $69.50 and set a “buy” rating for the company in a report on Wednesday, February 14th. Royal Bank of Canada decreased their price objective on Agree Realty from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, JMP Securities raised Agree Realty from a “market perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a report on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.61.

Agree Realty Stock Down 0.5 %

NYSE:ADC opened at $57.75 on Thursday. The firm has a market capitalization of $5.81 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.68 and a beta of 0.52. The stock has a 50 day moving average of $56.63 and a 200-day moving average of $58.26. Agree Realty has a 52 week low of $52.69 and a 52 week high of $69.26. The company has a current ratio of 0.71, a quick ratio of 0.74 and a debt-to-equity ratio of 0.50.

Insiders Place Their Bets

In other news, Chairman Richard Agree bought 16,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average cost of $55.50 per share, for a total transaction of $888,000.00. Following the completion of the transaction, the chairman now directly owns 135,855 shares of the company’s stock, valued at approximately $7,539,952.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John Rakolta, Jr. acquired 20,430 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was bought at an average price of $57.00 per share, for a total transaction of $1,164,510.00. Following the transaction, the director now owns 392,549 shares of the company’s stock, valued at $22,375,293. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Richard Agree acquired 16,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $55.50 per share, with a total value of $888,000.00. Following the transaction, the chairman now directly owns 135,855 shares in the company, valued at approximately $7,539,952.50. The disclosure for this purchase can be found here. Insiders bought 42,482 shares of company stock worth $2,397,572 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

Institutional investors and hedge funds have recently modified their holdings of the stock. HBC Financial Services PLLC acquired a new stake in shares of Agree Realty during the 4th quarter valued at $31,000. Lindbrook Capital LLC raised its stake in Agree Realty by 267.1% during the 4th quarter. Lindbrook Capital LLC now owns 591 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 430 shares during the period. UMB Bank n.a. raised its stake in Agree Realty by 247.3% during the 1st quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 512 shares during the period. CWM LLC raised its stake in Agree Realty by 117.3% during the 3rd quarter. CWM LLC now owns 728 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 393 shares during the period. Finally, Jamison Private Wealth Management Inc. raised its stake in 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 valued at $47,000 after purchasing an additional 364 shares during the period. Institutional investors and hedge funds 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.