Barclays upgraded shares of Agree Realty (NYSE:ADC – Free Report) from an underweight rating to an equal weight rating in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have $75.00 target price on the real estate investment trust’s stock, up from their prior target price of $74.00.

A number of other equities analysts also recently weighed in on ADC. Stifel Nicolaus lowered their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research note on Sunday, February 16th. Mizuho reduced their price target on Agree Realty from $80.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company dropped their price objective on Agree Realty from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Royal Bank of Canada cut their price objective on Agree Realty from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.69.

Get Our Latest Report on Agree Realty

Agree Realty Trading Down 0.8 %

Agree Realty stock opened at $74.94 on Tuesday. 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 has a 50-day moving average of $71.94 and a 200-day moving average of $73.64. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 42.10, a P/E/G ratio of 2.88 and a beta of 0.65. Agree Realty has a one year low of $54.78 and a one year high of $78.39.

Agree Realty (NYSE:ADC – Get Free Report) last posted 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, equities analysts expect that Agree Realty will post 4.27 earnings per share for the current fiscal year.

Agree Realty Dividend Announcement

The company also recently announced a feb 25 dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.253 per share. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, February 28th. Agree Realty’s dividend payout ratio is currently 170.22%.

Hedge Funds Weigh In On Agree Realty

Several institutional investors and hedge funds have recently modified their holdings of ADC. Versant Capital Management Inc raised its stake in Agree Realty by 230.7% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 293 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in shares of Agree Realty during the fourth quarter worth approximately $31,000. Headlands Technologies LLC raised its position in shares of Agree Realty by 72.8% in the fourth quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 235 shares in the last quarter. Financial Life Planners bought a new stake in shares of Agree Realty in the fourth quarter valued at approximately $44,000. Finally, Quarry LP acquired a new stake in Agree Realty during the fourth quarter worth approximately $52,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

Agree Realty Company Profile

(Get Free Report)

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.

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