Agree Realty (NYSE:ADC) Upgraded to Hold at Wall Street Zen

Agree Realty (NYSE:ADC) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Monday.

Several other equities analysts also recently weighed in on the company. Stifel Nicolaus set a $83.50 target price on Agree Realty in a research report on Tuesday, November 25th. Truist Financial lowered their price objective on shares of Agree Realty from $84.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Agree Realty in a research note on Wednesday, October 8th. KeyCorp increased their target price on shares of Agree Realty from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Finally, Royal Bank Of Canada dropped their price target on shares of Agree Realty from $80.00 to $79.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.23.

Agree Realty Stock Up 1.7%

Shares of NYSE ADC opened at $73.23 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $72.78 and its two-hundred day moving average is $72.69. Agree Realty has a 52-week low of $68.98 and a 52-week high of $79.65. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 42.82, a PEG ratio of 2.27 and a beta of 0.55.

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

Insider Buying and Selling at Agree Realty

In other news, Director John Rakolta, Jr. bought 15,000 shares of the stock in a transaction that occurred on Wednesday, December 24th. The stock was purchased at an average price of $72.18 per share, for a total transaction of $1,082,700.00. Following the completion of the purchase, the director owned 562,606 shares in the company, valued at approximately $40,608,901.08. This trade represents a 2.74% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter Coughenour purchased 500 shares of the business’s stock in a transaction on Friday, January 9th. The stock was acquired at an average price of $69.80 per share, for a total transaction of $34,900.00. Following the completion of the purchase, the chief financial officer owned 18,544 shares of the company’s stock, valued at $1,294,371.20. This represents a 2.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 39,500 shares of company stock valued at $2,813,680. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers raised its stake in Agree Realty by 4.4% during the 2nd quarter. Cetera Investment Advisers now owns 32,022 shares of the real estate investment trust’s stock valued at $2,340,000 after acquiring an additional 1,351 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Agree Realty by 408.0% in the second quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 306 shares during the period. Fifth Third Bancorp raised its stake in shares of Agree Realty by 33.5% during the second quarter. Fifth Third Bancorp now owns 6,030 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 1,512 shares during the last quarter. Jump Financial LLC raised its stake in shares of Agree Realty by 169.9% during the second quarter. Jump Financial LLC now owns 208,252 shares of the real estate investment trust’s stock worth $15,215,000 after purchasing an additional 131,100 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in shares of Agree Realty during the second quarter worth $1,414,000. 97.83% of the stock is owned by institutional investors and hedge funds.

About Agree Realty

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.