Robert W. Baird Issues Positive Forecast for Agree Realty (NYSE:ADC) Stock Price

Agree Realty (NYSE:ADC) had its price target upped by Robert W. Baird from $76.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

ADC has been the subject of several other reports. Stifel Nicolaus boosted their target price on shares of Agree Realty from $81.00 to $82.50 and gave the company a “buy” rating in a research note on Wednesday. UBS Group raised shares of 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 research note on Monday, January 6th. Barclays raised Agree Realty from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $74.00 to $75.00 in a research note on Tuesday, March 4th. StockNews.com upgraded shares of Agree Realty from a “sell” rating to a “hold” rating in a research report on Sunday, February 16th. Finally, Wells Fargo & Company upped their price target on Agree Realty from $78.00 to $81.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and an average target price of $80.88.

Agree Realty Trading Down 0.8 %

NYSE:ADC opened at $75.66 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $75.26 and a 200-day simple moving average of $74.03. The company has a market capitalization of $8.12 billion, a P/E ratio of 42.51, a PEG ratio of 2.88 and a beta of 0.55. Agree Realty has a 12 month low of $57.02 and a 12 month high of $79.65.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.06 EPS for the quarter, beating the consensus estimate of $1.05 by $0.01. The business had revenue of $169.16 million during the quarter, compared to analysts’ expectations of $167.77 million. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. During the same period in the previous year, the business posted $0.43 EPS. On average, equities research analysts anticipate that Agree Realty will post 4.27 earnings per share for the current year.

Agree Realty Increases Dividend

The company also recently disclosed a apr 25 dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a $0.256 dividend. This represents a dividend yield of 4.1%. The ex-dividend date is Wednesday, April 30th. This is an increase from Agree Realty’s previous apr 25 dividend of $0.25. Agree Realty’s payout ratio is currently 172.47%.

Hedge Funds Weigh In On Agree Realty

Several institutional investors have recently bought and sold shares of ADC. Sequoia Financial Advisors LLC grew its holdings in shares of Agree Realty by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 4,729 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 139 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Agree Realty by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,122 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 153 shares in the last quarter. Carmel Capital Partners LLC boosted its holdings in Agree Realty by 2.5% in the fourth quarter. Carmel Capital Partners LLC now owns 6,894 shares of the real estate investment trust’s stock valued at $486,000 after purchasing an additional 167 shares during the period. UMB Bank n.a. increased its holdings in Agree Realty by 17.3% during the 4th quarter. UMB Bank n.a. now owns 1,139 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 168 shares during the period. Finally, Private Advisor Group LLC boosted its stake in shares of Agree Realty by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 4,909 shares of the real estate investment trust’s stock valued at $346,000 after buying an additional 170 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

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 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.