Analysts’ Recent Ratings Updates for Agree Realty (ADC)

A number of research firms have changed their ratings and price targets for Agree Realty (NYSE: ADC):

  • 7/21/2021 – Agree Realty was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Agree Realty Corp. is a self-administered, self-managed real estate investment trust which develops, acquires, owns and operates properties which are primarily leased to major national and regional retail companies under net leases. “
  • 7/19/2021 – Agree Realty was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $82.00 price target on the stock. According to Zacks, “Agree Realty Corp. is a self-administered, self-managed real estate investment trust which develops, acquires, owns and operates properties which are primarily leased to major national and regional retail companies under net leases. “
  • 7/14/2021 – Agree Realty had its price target raised by analysts at BTIG Research from $74.00 to $78.00. They now have a “buy” rating on the stock.
  • 7/13/2021 – Agree Realty was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Agree Realty Corp. is a self-administered, self-managed real estate investment trust which develops, acquires, owns and operates properties which are primarily leased to major national and regional retail companies under net leases. “
  • 7/12/2021 – Agree Realty was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $81.00 price target on the stock. According to Zacks, “Agree Realty Corp. is a self-administered, self-managed real estate investment trust which develops, acquires, owns and operates properties which are primarily leased to major national and regional retail companies under net leases. “
  • 6/25/2021 – Agree Realty had its price target raised by analysts at Wells Fargo & Company from $75.00 to $80.00. They now have an “overweight” rating on the stock.
  • 6/3/2021 – Agree Realty was downgraded by analysts at Mizuho from a “buy” rating to a “neutral” rating. They now have a $73.00 price target on the stock.

ADC stock traded down $0.18 during midday trading on Thursday, reaching $74.11. 17,243 shares of the company were exchanged, compared to its average volume of 531,806. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.49. Agree Realty Co. has a 1-year low of $61.27 and a 1-year high of $74.70. The company’s 50-day moving average price is $71.16. The company has a market capitalization of $4.77 billion, a P/E ratio of 42.11 and a beta of 0.32.

Agree Realty (NYSE:ADC) last released its quarterly earnings data on Sunday, May 2nd. The real estate investment trust reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.35). Agree Realty had a return on equity of 4.10% and a net margin of 37.05%. As a group, sell-side analysts predict that Agree Realty Co. will post 3.5 EPS for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 13th. Shareholders of record on Friday, July 30th will be issued a dividend of $0.217 per share. The ex-dividend date of this dividend is Thursday, July 29th. This represents a $2.60 dividend on an annualized basis and a yield of 3.51%. Agree Realty’s payout ratio is currently 80.50%.

Institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. increased its holdings in shares of Agree Realty by 378.0% in the 1st quarter. Panagora Asset Management Inc. now owns 631 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 499 shares during the period. Montag A & Associates Inc. acquired a new position in shares of Agree Realty in the 1st quarter valued at $51,000. Eaton Vance Management acquired a new position in shares of Agree Realty in the 1st quarter valued at $67,000. Gables Capital Management Inc. acquired a new position in shares of Agree Realty in the 1st quarter valued at $67,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Agree Realty by 238.1% in the 1st quarter. Meeder Asset Management Inc. now owns 1,430 shares of the real estate investment trust’s stock valued at $96,000 after acquiring an additional 1,007 shares during the period.

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.

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