Agree Realty (NYSE:ADC) Price Target Lowered to $74.00 at Barclays

Agree Realty (NYSE:ADC) had its target price reduced by Barclays from $76.00 to $74.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s price target would suggest a potential upside of 1.70% from the company’s previous close.

Several other brokerages also recently commented on ADC. Truist Financial increased their target price on Agree Realty from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their target price on shares of Agree Realty from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. StockNews.com cut shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Friday. UBS Group raised Agree Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $79.00 to $84.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price target on Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Agree Realty currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.93.

Agree Realty Stock Up 0.3 %

ADC stock opened at $72.76 on Tuesday. The business has a 50 day moving average of $72.45 and a 200 day moving average of $73.20. Agree Realty has a twelve month low of $54.28 and a twelve 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 firm has a market cap of $7.53 billion, a PE ratio of 40.20, a price-to-earnings-growth ratio of 2.56 and a beta of 0.65.

Institutional Trading of Agree Realty

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position in Agree Realty by 729.3% in the 3rd quarter. FMR LLC now owns 2,238,784 shares of the real estate investment trust’s stock valued at $168,648,000 after buying an additional 1,968,811 shares during the period. Pathway Financial Advisers LLC boosted its holdings in shares of Agree Realty by 9,118.1% in the third quarter. Pathway Financial Advisers LLC now owns 1,227,756 shares of the real estate investment trust’s stock valued at $92,487,000 after purchasing an additional 1,214,437 shares during the period. JPMorgan Chase & Co. grew its stake in Agree Realty by 37.3% in the third quarter. JPMorgan Chase & Co. now owns 3,646,526 shares of the real estate investment trust’s stock worth $274,693,000 after purchasing an additional 990,362 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Agree Realty by 29.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,350,056 shares of the real estate investment trust’s stock worth $177,030,000 after purchasing an additional 534,545 shares during the period. Finally, Two Sigma Advisers LP raised its position in Agree Realty by 92.6% during the 3rd quarter. Two Sigma Advisers LP now owns 714,387 shares of the real estate investment trust’s stock valued at $53,815,000 after purchasing an additional 343,400 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

About Agree Realty

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.