Royal Bank Of Canada Lowers Agree Realty (NYSE:ADC) Price Target to $79.00

Agree Realty (NYSE:ADC) had its target price lowered by Royal Bank Of Canada from $80.00 to $79.00 in a report released on Tuesday, Marketbeat.com reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 12.15% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Mizuho dropped their target price on Agree Realty from $77.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, October 8th. Evercore ISI decreased their price target on Agree Realty from $85.00 to $83.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. Finally, Wells Fargo & Company increased their price objective on Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.23.

Agree Realty Stock Down 0.1%

ADC opened at $70.44 on Tuesday. Agree Realty has a fifty-two week low of $67.58 and a fifty-two week high of $79.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.68 and a quick ratio of 0.68. The firm’s fifty day moving average price is $72.95 and its two-hundred day moving average price is $72.78. The company has a market capitalization of $8.10 billion, a P/E ratio of 41.19, a P/E/G ratio of 2.18 and a beta of 0.55.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $183.22 million during the quarter, compared to analysts’ expectations of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The business’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 EPS. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. On average, analysts anticipate that Agree Realty will post 4.27 EPS for the current year.

Insider Activity

In other Agree Realty news, Director John Rakolta, Jr. purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was acquired at an average cost of $72.18 per share, with a total value of $1,082,700.00. Following the completion of the acquisition, the director directly owned 562,606 shares of the company’s stock, valued at $40,608,901.08. This represents a 2.74% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Agree Realty

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in Agree Realty by 21.9% in the 4th quarter. GAMMA Investing LLC now owns 3,883 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 697 shares during the last quarter. Allworth Financial LP raised its position in shares of Agree Realty by 23.2% during the third quarter. Allworth Financial LP now owns 1,098 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 207 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Agree Realty by 18.2% during the third quarter. IFP Advisors Inc now owns 1,111 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 171 shares during the period. Swiss Life Asset Management Ltd lifted its stake in shares of Agree Realty by 89.3% during the third quarter. Swiss Life Asset Management Ltd now owns 5,233 shares of the real estate investment trust’s stock valued at $372,000 after acquiring an additional 2,468 shares during the period. Finally, Cambria Investment Management L.P. boosted its holdings in Agree Realty by 15.6% in the third quarter. Cambria Investment Management L.P. now owns 8,049 shares of the real estate investment trust’s stock valued at $572,000 after acquiring an additional 1,085 shares during the last quarter. 97.83% of the stock is owned by institutional investors.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.