Agree Realty Corp. Coverage Initiated by Analysts at Janney Montgomery Scott (ADC)
Research analysts at Janney Montgomery Scott assumed coverage on shares of Agree Realty Corp. (NYSE:ADC) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Shares of Agree Realty Corp. (NYSE:ADC) opened at 27.23 on Tuesday. Agree Realty Corp. has a 52-week low of $24.75 and a 52-week high of $34.25. The stock has a 50-day moving average of $28.94 and a 200-day moving average of $29.88. The company has a market cap of $353.5 million and a P/E ratio of 18.19.
Agree Realty Corp. (NYSE:ADC) last announced its earnings results on Monday, July 29th. The company reported $0.51 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.51. Analysts expect that Agree Realty Corp. will post $2.09 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Ladenburg Thalmann raised their price target on shares of Agree Realty Corp. (NYSE:ADC) from $33.00 to $34.00 in a research note to investors on Monday, August 5th. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Agree Realty Corp. (NYSE:ADC) from $31.00 to $34.00 in a research note to investors on Thursday, August 1st. They now have a “market perform” rating on the stock. Finally, analysts at Raymond James downgraded shares of Agree Realty Corp. (NYSE:ADC) from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, July 31st. They now have a GBX 34 ($0.53) price target on the stock.
Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $33.60.
Agree Realty Corporation is a self-administered and self-managed real estate investment trust (NYSE:ADC).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.