Agree Realty (NYSE:ADC – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.
A number of other equities analysts have also recently issued reports on ADC. Wells Fargo & Company began coverage on shares of Agree Realty in a research report on Wednesday, September 20th. They set an “overweight” rating and a $70.00 price objective on the stock. BNP Paribas cut shares of Agree Realty from an “outperform” rating to a “neutral” rating and set a $64.00 price target on the stock. in a research report on Wednesday, December 13th. Mizuho raised their price target on shares of Agree Realty from $61.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial dropped their price target on shares of Agree Realty from $74.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, November 27th. Finally, Royal Bank of Canada raised their price target on shares of Agree Realty from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Agree Realty presently has a consensus rating of “Hold” and an average price target of $66.93.
Agree Realty Trading Up 0.4 %
Agree Realty stock traded up $0.24 during trading hours on Friday, reaching $62.86. 440,558 shares of the company’s stock were exchanged, compared to its average volume of 1,119,123. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.44. The firm’s 50 day simple moving average is $60.41 and its 200 day simple moving average is $60.61. Agree Realty has a twelve month low of $52.69 and a twelve month high of $75.71. The firm has a market capitalization of $6.32 billion, a PE ratio of 36.76, a PEG ratio of 2.42 and a beta of 0.57.
Insider Buying and Selling at Agree Realty
In other news, CEO Joey Agree purchased 1,350 shares of the business’s stock in a transaction on Monday, December 11th. The stock was purchased at an average cost of $58.47 per share, with a total value of $78,934.50. Following the acquisition, the chief executive officer now directly owns 554,603 shares in the company, valued at $32,427,637.41. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Agree Realty news, Director Greg Lehmkuhl purchased 1,700 shares of the stock in a transaction on Friday, December 15th. The stock was acquired at an average cost of $61.17 per share, with a total value of $103,989.00. Following the completion of the purchase, the director now directly owns 17,717 shares of the company’s stock, valued at approximately $1,083,748.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joey Agree purchased 1,350 shares of the stock in a transaction on Monday, December 11th. The stock was acquired at an average cost of $58.47 per share, with a total value of $78,934.50. Following the completion of the purchase, the chief executive officer now directly owns 554,603 shares of the company’s stock, valued at $32,427,637.41. The disclosure for this purchase can be found here. Insiders bought a total of 26,550 shares of company stock valued at $1,651,629 in the last three months. Company insiders own 1.60% of the company’s stock.
Hedge Funds Weigh In On Agree Realty
Hedge funds have recently modified their holdings of the company. Ensign Peak Advisors Inc increased its position in shares of Agree Realty by 0.7% during the first quarter. Ensign Peak Advisors Inc now owns 23,042 shares of the real estate investment trust’s stock valued at $1,581,000 after buying an additional 150 shares during the period. Baird Financial Group Inc. increased its position in shares of Agree Realty by 2.6% during the fourth quarter. Baird Financial Group Inc. now owns 6,812 shares of the real estate investment trust’s stock valued at $484,000 after buying an additional 171 shares during the period. State of Wyoming increased its position in shares of Agree Realty by 34.8% during the second quarter. State of Wyoming now owns 666 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 172 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of Agree Realty by 3.5% during the first quarter. Ameritas Investment Partners Inc. now owns 5,457 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 183 shares during the period. Finally, First National Bank of Omaha increased its position in shares of Agree Realty by 0.7% during the second quarter. First National Bank of Omaha now owns 28,520 shares of the real estate investment trust’s stock valued at $1,865,000 after buying an additional 204 shares during the period. Hedge funds and other 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 September 30, 2023, the Company owned and operated a portfolio of 2,084 properties, located in 49 states and containing approximately 43.2 million square feet of gross leasable area.