Agree Realty Co. (NYSE:ADC) received a consensus rating of Moderate Buy from analysts.

Agree Realty Co. (NYSE:ADC – Get Rating) has been assigned an average rating of “Moderate Buy” by the twelve analysts currently covering the company, reports MarketBeat Ratings. Two equity analysts have given the stock a hold recommendation, seven have given it a buy recommendation and one has given it a strong buy recommendation. The average 1-year target price among brokers who have issued a report on the stock in the last year is $76.77.

A number of research analysts have issued reports on ADC stock. Truist Financial raised its price target on Agree Realty to $77.00 from $74.00 and gave the stock a “buy” rating in a report on Wednesday, June 1. The Royal Bank of Canada lowered its price target on Agree Realty from $80.00 to $75.00 in a research note on Thursday, February 24. Stifel Nicolaus lowered his price target on Agree Realty to $80.50 from $81.00 and gave the stock a buy rating in a research note on Wednesday, February 23. StockNews.com acquired coverage of Agree Realty in a research note on Thursday, March 31st. They gave the stock a “hold” rating. Finally, in a research note on Thursday, March 2, Bank of America Agree Realty

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A number of institutional investors recently changed their positions in the stock. Weiss Multi Strategy Advisers LLC acquired a new interest in Agree Realty valued at approximately $54,282,000 during the fourth quarter. Millennium Management LLC increased its position in Agree Realty by 171.5% during the fourth quarter. Millennium Management LLC now owns 1,170,357 shares of Real Estate Investment Trust valued at $83,517,000 after purchasing an additional 739,217 shares last quarter. Norges Bank acquired a new stake in Agree Realty valued at approximately $50,467,000 during the fourth quarter. BlackRock Inc. increased its position in Agree Realty by 4.7% in the fourth quarter. BlackRock Inc. now owns 13,667,653 shares of Real Estate Investment Trust valued at $975,322,000 after purchasing an additional 615,858 shares last quarter. Finally, Centersquare Investment Management LLC increased its position in Agree Realty by 19.3% during the fourth quarter. Centersquare Investment Management LLC now owns 3,590,392 shares of the Real Estate Investment Trust worth $256,210,000 after purchasing an additional 581,884 shares last quarter.

ADC stock opened at $69.40 on Wednesday. Agree Realty has a 12-month low of $61.62 and a 12-month high of $75.95. The company has a market cap of $5.22 billion, a P/E of 38.99, a price-to-earnings-to-growth ratio of 2.30 and a beta of 0.40. The company’s 50-day simple moving average is $69.20 and its 200-day simple moving average is $67.20. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.53.

Agree Realty (NYSE:ADC – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The Real Estate Investment Trust reported earnings per share of $0.48 for the quarter, beating the consensus estimate of $0.45 by $0.03. Agree Realty had a return on equity of 3.94% and a net margin of 35.65%. In the same period last year, the company posted $0.84 per share. On average, equity analysts expect Agree Realty to post 3.92 EPS for the year to date.

The company also recently announced a monthly dividend, which will be paid on Thursday, July 14th. Shareholders of record on Thursday, June 30 will receive a dividend of $0.234. The ex-dividend date is Wednesday June 29th. That equates to a dividend of $2.81 on an annualized basis and a dividend yield of 4.05%. Agree Realty’s dividend payout ratio (DPR) is 157.87%.

Agree to the real estate company profile (get rating)

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

See also

Analyst Recommendations for Agree Realty (NYSE:ADC)

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