Mizuho Has Lowered Expectations for Agree Realty (NYSE:ADC) Stock Price

Agree Realty (NYSE:ADC) had its price objective decreased by research analysts at Mizuho from $80.00 to $74.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price points to a potential upside of 5.52% from the company’s previous close.

A number of other research analysts also recently issued reports on ADC. Evercore ISI started coverage on Agree Realty in a report on Thursday, December 12th. They set an “outperform” rating and a $82.00 price target on the stock. Royal Bank of Canada dropped their price target on shares of Agree Realty from $80.00 to $79.00 and set an “outperform” rating on the stock in a report on Tuesday. JMP Securities cut shares of Agree Realty from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 17th. Stifel Nicolaus cut their target price on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, KeyCorp boosted their target price on shares of Agree Realty from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Agree Realty Stock Up 0.1 %

Shares of NYSE ADC traded up $0.09 during trading on Wednesday, reaching $70.13. The company had a trading volume of 137,832 shares, compared to its average volume of 1,143,356. Agree Realty has a 12-month low of $54.28 and a 12-month high of $78.39. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average is $73.87 and its 200 day moving average is $72.08. The stock has a market cap of $7.26 billion, a PE ratio of 38.75, a P/E/G ratio of 3.66 and a beta of 0.64.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.61). The firm had revenue of $154.33 million during the quarter, compared to analysts’ expectations of $152.83 million. Agree Realty had a return on equity of 3.77% and a net margin of 31.62%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. As a group, equities analysts forecast that Agree Realty will post 4.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Agree Realty

Hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in Agree Realty by 230.7% during the 4th quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 293 shares in the last quarter. Headlands Technologies LLC grew its stake in Agree Realty by 232.0% during the second quarter. Headlands Technologies LLC now owns 1,142 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 798 shares in 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. Arcadia Investment Management Corp MI purchased a new stake in Agree Realty in the 3rd quarter worth $75,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Agree Realty during the 3rd quarter valued at about $77,000. Institutional investors own 97.83% of the company’s stock.

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.