Streetbeat News

ADC

Agree Realty Corporation

https://www.agreerealty.com

Industry

REIT - Retail

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange under the symbol "ADC".

Open

77.41

Mkt cap

7.9B

Volume

437K

High

77.50

P/E Ratio

42.24

52-wk high

77.58

Low

76.31

Div yield

0.04

52-wk low

54.28

Agree Realty (NYSE:ADC) has seen an 8.58% increase in short interest, now at 3.01 million shares or 4.43% of float, taking 2.77 days on average to cover. This rise in short interest could indicate a bearish market sentiment towards ADC, though it has less short interest compared to its peers' average of 5.46%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are shorting more shares.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 7:30 pm

12 analysts have recently shared mixed evaluations of Agree Realty (NYSE:ADC), with a consensus 12-month price target of $65.79, down from $66.00. The ratings range from bullish to indifferent, with recent actions including both raises and lowers in ratings and price targets by notable firms. Agree Realty, a real estate investment trust, has shown a revenue growth of 23.71% but faces challenges in profitability and efficiency, with below-industry averages in net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 3:00 pm

Mizuho analyst Haendel St. Juste maintains a Neutral rating on Agree Realty (NYSE:ADC) and lowers the price target from $65 to $60.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 11:49 am

Insiders at Western Midstream Partners, Sphere Entertainment, and Agree Realty have made significant stock purchases, indicating confidence in their companies' prospects. These transactions suggest potential growth or undervaluation, making them noteworthy for investors.