Agree Realty (NYSE:ADC) Stock Price Expected to Rise, Mizuho Analyst Says

Agree Realty (NYSE:ADC) had its price objective raised by Mizuho from $74.00 to $81.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price suggests a potential upside of 4.42% from the company’s previous close.

Several other brokerages have also recently issued reports on ADC. JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $79.00 to $84.00 in a report on Monday, January 6th. Royal Bank of Canada dropped their price target on Agree Realty from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Evercore ISI assumed coverage on Agree Realty in a report on Thursday, December 12th. They issued an “outperform” rating and a $82.00 price objective for the company. Finally, Citizens Jmp cut shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.38.

Agree Realty Stock Up 1.4 %

Shares of Agree Realty stock traded up $1.08 during trading on Thursday, hitting $77.57. 138,918 shares of the stock were exchanged, compared to its average volume of 951,557. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s 50-day moving average price is $74.06 and its 200 day moving average price is $73.93. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. Agree Realty has a 12-month low of $54.78 and a 12-month high of $78.39.

Agree Realty (NYSE:ADC) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts forecast that Agree Realty will post 4.27 earnings per share for the current fiscal year.

Institutional Trading of Agree Realty

A number of institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings 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. Bernard Wealth Management Corp. purchased a new position in shares of Agree Realty during the 4th quarter worth approximately $31,000. Headlands Technologies LLC increased its stake in shares of Agree Realty by 72.8% during the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 235 shares in the last quarter. Financial Life Planners acquired a new position in shares of Agree Realty during the 4th quarter worth approximately $44,000. Finally, Quarry LP purchased a new stake in Agree Realty in the 4th quarter valued at approximately $52,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

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.