Agree Realty (NYSE:ADC) Price Target Cut to $74.00 by Analysts at Barclays

Agree Realty (NYSE:ADC) had its price target decreased by Barclays from $76.00 to $74.00 in a research report sent to investors on Tuesday,Benzinga reports. Barclays currently has an underweight rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Agree Realty in a research note on Wednesday, December 11th. They set a “buy” rating and a $88.00 price target on the stock. Truist Financial lifted their price target on shares of Agree Realty from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their price target on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. UBS Group upgraded shares of Agree Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $79.00 to $84.00 in a research note on Monday, January 6th. Finally, Evercore ISI initiated coverage on shares of Agree Realty in a research note on Thursday, December 12th. They set an “outperform” rating and a $82.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.93.

Agree Realty Trading Down 0.5 %

Shares of ADC stock opened at $72.53 on Tuesday. Agree Realty has a 12-month low of $54.28 and a 12-month high of $78.39. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $72.29 and its 200 day moving average is $73.29. The stock has a market capitalization of $7.51 billion, a P/E ratio of 40.07, a P/E/G ratio of 2.56 and a beta of 0.65.

Agree Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.253 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.04 dividend on an annualized basis and a yield of 4.19%. Agree Realty’s dividend payout ratio is currently 167.96%.

Institutional Trading of Agree Realty

A number of institutional investors and hedge funds have recently bought and sold shares of ADC. Versant Capital Management Inc increased its holdings in Agree Realty by 230.7% in the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 293 shares during the last quarter. Financial Life Planners bought a new stake in Agree Realty in the 4th quarter valued at $44,000. MassMutual Private Wealth & Trust FSB increased its holdings in Agree Realty by 34.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 230 shares during the last quarter. UMB Bank n.a. increased its holdings in Agree Realty by 44.5% in the 3rd quarter. UMB Bank n.a. now owns 971 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 299 shares during the last quarter. Finally, Arcadia Investment Management Corp MI bought a new stake in Agree Realty in the 3rd quarter valued at $75,000. 97.83% of the stock is currently owned by institutional investors.

Agree Realty Company Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.