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 received mixed analyst ratings over the past quarter, with 1 bullish, 2 somewhat bullish, and 2 indifferent. The average 12-month price target is now $63.4, down from $70.25, with a high estimate of $67 and a low of $61. Analysts from RBC Capital, Exane BNP Paribas, Mizuho, and Truist Securities have adjusted their price targets and ratings, reflecting changes in market dynamics and company performance. Agree Realty, a real estate investment trust, has shown a positive revenue trend with a 24.3% growth rate and a net margin of 28.92%, but its ROE of 0.8% is below industry averages. Its ROA of 0.53% and a debt-to-equity ratio of 0.44 indicate strong financial health and sound financial structure.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 9:00 pm

RBC Capital analyst Brad Heffern has maintained an Outperform rating on Agree Realty (NYSE:ADC) and increased the price target from $66 to $67.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:05 pm

Over the past 3 months, 6 Wall Street analysts have published their opinions on Agree Realty (NYSE:ADC), with 1 bullish, 2 somewhat bullish, and 3 indifferent ratings. The average 12-month price target for ADC is $64.00, with a high of $70.00 and a low of $61.00, representing an 11.72% decrease from the previous target of $72.50. Analysts rate stocks to predict performance and provide guidance to investors.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 3:00 pm

Exane BNP Paribas analyst Nate Crossett downgraded Agree Realty (NYSE:ADC) from Outperform to Neutral and set a price target of $64.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 1:45 pm

Analysts have downgraded several REITs, potentially signaling a shift in momentum after a strong five-week run. Vornado Realty Trust (VNO) was downgraded by Evercore ISI Group from In-Line to Underperform with a raised price target. National Storage Affiliates Trust (NSA), CubeSmart (CUBE), Equity Residential (EQR), Gaming and Leisure Properties Inc. (GLPI), and Agree Realty Corp. (ADC) also saw downgrades from analysts with various adjustments to their price targets. Additionally, Wells Fargo downgraded three hotel REITs: Apple Hospitality REIT Inc. (APLE), Diamondrock Hospitality Co. (DRH), and Sunstone Hotel Investors Inc. (SHO).

Portfolio Pulse from Ethan Roberts

December 11, 2023 | 8:12 pm

Several Wall Street analysts have updated their price targets and ratings for various US-listed companies. Thermo Fisher Scientific's target was raised by Citigroup, while Agree Realty's target was cut by Mizuho. Marathon Oil's target was reduced by Morgan Stanley, and CRISPR Therapeutics' target was increased by JMP Securities. Citigroup upgraded NIKE and raised its target. BMO Capital raised J.B. Hunt's target and upgraded the stock. Raymond James increased GMS's target. Jefferies raised Best Buy's target and upgraded the stock. RBC Capital raised Pinterest's target and upgraded the stock. Evercore ISI Group raised HP's target and upgraded the stock.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 12:46 pm

Mizuho analyst Haendel St. Juste has downgraded Agree Realty (NYSE:ADC) from Buy to Neutral and reduced the price target from $67 to $61.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 11:58 am

Over the last quarter, Agree Realty (NYSE:ADC) received a mix of analyst ratings, with 1 bullish, 2 somewhat bullish, and 1 indifferent, but no bearish ratings. The average 12-month price target for ADC is $64.75, with a high of $70.00 and a low of $62.00. This target has decreased by 12.89% from the previous average of $74.33. Analysts rate stocks based on future earnings potential and company risk, typically updating their ratings quarterly or after major company events.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 5:00 pm

Truist Securities analyst Ki Bin Kim has maintained a Buy rating on Agree Realty (NYSE:ADC) but has reduced the price target from $74 to $62.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 4:47 pm

RBC Capital analyst Brad Heffern maintains Agree Realty (NYSE:ADC) with an Outperform rating but lowers the price target from $74 to $63.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 5:00 pm

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