Agree Realty Corporation (NYSE:ADC) received a $58.00 price objective from stock analysts at B. Riley in a research note issued on Tuesday. The firm presently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s price objective would suggest a potential upside of 17.22% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. ValuEngine raised shares of Agree Realty Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. BidaskClub raised shares of Agree Realty Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Canaccord Genuity reaffirmed a “buy” rating and set a $53.00 target price on shares of Agree Realty Corporation in a research note on Monday, July 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $54.00 target price on shares of Agree Realty Corporation in a research note on Tuesday, October 24th. Finally, FBR & Co reaffirmed a “buy” rating and set a $58.00 target price on shares of Agree Realty Corporation in a research note on Tuesday, October 24th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $52.78.

Shares of Agree Realty Corporation (NYSE:ADC) traded up $0.81 on Tuesday, reaching $49.48. 267,300 shares of the company’s stock traded hands, compared to its average volume of 202,616. Agree Realty Corporation has a 1-year low of $41.01 and a 1-year high of $51.50. The firm has a market capitalization of $1,421.94, a P/E ratio of 18.37, a P/E/G ratio of 3.59 and a beta of 0.55. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59.

Agree Realty Corporation (NYSE:ADC) last posted its earnings results on Monday, October 23rd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.27). The company had revenue of $30.39 million for the quarter, compared to the consensus estimate of $29.48 million. Agree Realty Corporation had a return on equity of 7.27% and a net margin of 49.26%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. equities analysts expect that Agree Realty Corporation will post 2.71 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of ADC. BlackRock Inc. grew its stake in shares of Agree Realty Corporation by 4,812.0% in the first quarter. BlackRock Inc. now owns 3,713,482 shares of the real estate investment trust’s stock worth $178,099,000 after purchasing an additional 3,637,882 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Agree Realty Corporation in the second quarter worth $17,580,000. Vanguard Group Inc. grew its stake in shares of Agree Realty Corporation by 6.5% in the second quarter. Vanguard Group Inc. now owns 3,513,418 shares of the real estate investment trust’s stock worth $161,161,000 after purchasing an additional 214,773 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Agree Realty Corporation by 130.5% in the third quarter. Eagle Asset Management Inc. now owns 307,458 shares of the real estate investment trust’s stock worth $15,280,000 after purchasing an additional 174,054 shares during the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Agree Realty Corporation in the second quarter worth $6,650,000. 83.58% of the stock is currently owned by institutional investors.

Agree Realty Corporation Company Profile

Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).

Analyst Recommendations for Agree Realty Corporation (NYSE:ADC)

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