Agree Realty Corp. Receives Consensus Recommendation of “Buy” from Analysts (NYSE:ADC)
Agree Realty Corp. (NYSE:ADC) has received an average recommendation of “Buy” from the seven brokerages that are covering the stock, American Banking News.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $34.40.
Separately, analysts at EVA Dimensions upgraded shares of Agree Realty Corp. from an “overweight” rating to a “buy” rating in a research note on Tuesday.
Shares of Agree Realty Corp. (NYSE:ADC) traded up 0.44% on Wednesday, hitting $29.86. The stock had a trading volume of 5,385 shares. Agree Realty Corp. has a 52-week low of $26.62 and a 52-week high of $34.25. The stock’s 50-day moving average is $30.71 and its 200-day moving average is $29.97. The company has a market cap of $437.0 million and a price-to-earnings ratio of 19.89.
Agree Realty Corp. (NYSE:ADC) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.01. The company had revenue of $11.70 million for the quarter, compared to the consensus estimate of $12.15 million. During the same quarter last year, the company posted $0.52 earnings per share. On average, analysts predict that Agree Realty Corp. will post $2.23 earnings per share for the current fiscal year.
Agree Realty Corporation is a self-administered and self-managed real estate investment trust (NYSE:ADC).
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