Brokerages Set Agree Realty Co. (NYSE:ADC) PT at $81.19

Shares of Agree Realty Co. (NYSE:ADC) have earned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $81.19.

Several brokerages recently issued reports on ADC. Royal Bank of Canada reduced their price objective on shares of Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Evercore ISI lifted their price target on shares of Agree Realty from $82.00 to $83.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Stifel Nicolaus boosted their price target on shares of Agree Realty from $81.00 to $82.50 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Finally, Barclays set a $77.00 price objective on shares of Agree Realty and gave the stock an “equal weight” rating in a research report on Wednesday, May 21st.

Agree Realty Stock Up 0.1%

Shares of NYSE ADC opened at $74.65 on Friday. Agree Realty has a 1 year low of $59.66 and a 1 year high of $79.65. The company has a market capitalization of $8.21 billion, a P/E ratio of 41.94, a P/E/G ratio of 2.88 and a beta of 0.56. The company has a 50 day simple moving average of $75.25 and a 200-day simple moving average of $74.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78.

Agree Realty (NYSE:ADC) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. The company had revenue of $169.16 million during the quarter, compared to analysts’ expectations of $167.77 million. During the same quarter last year, the firm earned $0.43 earnings per share. On average, equities research analysts predict that Agree Realty will post 4.27 earnings per share for the current year.

Agree Realty Announces Dividend

The business also recently declared a jun 25 dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.256 per share. Agree Realty’s dividend payout ratio (DPR) is 173.45%.

Institutional Investors Weigh In On Agree Realty

Hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. purchased a new stake in shares of Agree Realty during the first quarter worth approximately $27,000. Bernard Wealth Management Corp. acquired a new position in Agree Realty during the 4th quarter worth approximately $31,000. SVB Wealth LLC purchased a new stake in shares of Agree Realty in the 1st quarter valued at approximately $33,000. Capital Advisors Ltd. LLC raised its holdings in shares of Agree Realty by 137.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 270 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of Agree Realty by 72.8% in the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 235 shares in the last quarter. 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.