Agree Realty (NYSE:ADC) Given a $80.00 Price Target by UBS Group Analysts

Agree Realty (NYSE:ADC) has been given a $80.00 price objective by research analysts at UBS Group in a report released on Wednesday, July 16th, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price objective indicates a potential upside of 8.56% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus upped their price target on Agree Realty from $81.00 to $82.50 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Robert W. Baird upped their target price on Agree Realty from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Barclays set a $77.00 target price on Agree Realty and gave the company an “equal weight” rating in a research report on Wednesday, May 21st. Wall Street Zen lowered Agree Realty from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Agree Realty in a research report on Monday, June 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Agree Realty presently has a consensus rating of “Moderate Buy” and an average target price of $80.32.

Agree Realty Stock Up 3.3%

ADC opened at $73.69 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 41.63, a price-to-earnings-growth ratio of 2.31 and a beta of 0.54. The business has a 50-day moving average of $73.77 and a two-hundred day moving average of $74.01. Agree Realty has a 12 month low of $65.98 and a 12 month high of $79.65.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.66% and a net margin of 30.05%. The business had revenue of $169.16 million during the quarter, compared to analysts’ expectations of $167.77 million. During the same quarter in the previous year, the business earned $0.43 EPS. On average, research analysts expect that Agree Realty will post 4.27 earnings per share for the current year.

Institutional Investors Weigh In On Agree Realty

A number of institutional investors have recently bought and sold shares of the business. Vanderbilt University lifted its holdings in shares of Agree Realty by 11.5% during the 2nd quarter. Vanderbilt University now owns 25,074 shares of the real estate investment trust’s stock valued at $1,832,000 after buying an additional 2,585 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Agree Realty during the 2nd quarter valued at about $1,020,000. GC Wealth Management RIA LLC acquired a new stake in shares of Agree Realty during the 2nd quarter valued at about $322,000. Signaturefd LLC lifted its holdings in shares of Agree Realty by 7.5% during the 2nd quarter. Signaturefd LLC now owns 10,714 shares of the real estate investment trust’s stock valued at $783,000 after buying an additional 748 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Agree Realty by 4.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 65,357 shares of the real estate investment trust’s stock valued at $4,773,000 after buying an additional 3,037 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

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.