Agree Realty Co. (NYSE:ADC) Receives $80.38 Average PT from Analysts

Shares of Agree Realty Co. (NYSE:ADC) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $80.38.

ADC has been the topic of a number of recent analyst reports. Mizuho boosted their price target on shares of Agree Realty from $74.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. StockNews.com upgraded Agree Realty from a “sell” rating to a “hold” rating in a report on Sunday, February 16th. UBS Group upgraded Agree Realty from a “neutral” rating to a “buy” rating and lifted their price target for the company from $79.00 to $84.00 in a report on Monday, January 6th. Royal Bank of Canada reduced their price objective on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lifted their target price on Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, March 10th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc raised its position in shares of Agree Realty by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 153 shares during the period. Carmel Capital Partners LLC lifted its position in Agree Realty by 2.5% during the 4th quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust’s stock worth $486,000 after acquiring an additional 167 shares during the last quarter. UMB Bank n.a. boosted its holdings in Agree Realty by 17.3% during the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 168 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Agree Realty by 3.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,590 shares of the real estate investment trust’s stock valued at $323,000 after purchasing an additional 169 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of Agree Realty by 3.6% in the fourth quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock worth $346,000 after purchasing an additional 170 shares during the period. 97.83% of the stock is owned by institutional investors.

Agree Realty Price Performance

NYSE ADC opened at $78.73 on Friday. The stock has a market capitalization of $8.45 billion, a P/E ratio of 44.23, a P/E/G ratio of 2.88 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78. The business’s fifty day moving average is $74.80 and its two-hundred day moving average is $73.94. Agree Realty has a 1 year low of $56.32 and a 1 year high of $79.61.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.61. Agree Realty had a return on equity of 3.70% and a net margin of 30.66%. On average, research analysts forecast that Agree Realty will post 4.27 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The business also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a $0.256 dividend. The ex-dividend date is Wednesday, April 30th. This represents a dividend yield of 4.1%. This is a boost from Agree Realty’s previous apr 25 dividend of $0.25. Agree Realty’s payout ratio is currently 172.47%.

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.