Agree Realty (ADC) Upgraded to Buy at ValuEngine

Agree Realty (NYSE:ADC) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report released on Monday.

Separately, Zacks Investment Research lowered Agree Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Agree Realty presently has a consensus rating of “Buy” and a consensus target price of $55.13.

Shares of Agree Realty traded up $0.09, hitting $52.86, during mid-day trading on Monday, according to MarketBeat. 154,500 shares of the stock traded hands, compared to its average volume of 232,394. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.61. Agree Realty has a 52 week low of $43.74 and a 52 week high of $54.16. The firm has a market capitalization of $1.54 billion, a PE ratio of 19.43, a P/E/G ratio of 3.62 and a beta of 0.34.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Monday, April 23rd. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.18). Agree Realty had a net margin of 48.16% and a return on equity of 6.97%. The firm had revenue of $34.57 million for the quarter, compared to the consensus estimate of $33.45 million. research analysts anticipate that Agree Realty will post 2.91 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADC. Dynamic Technology Lab Private Ltd bought a new stake in Agree Realty in the first quarter worth $299,000. Heitman Real Estate Securities LLC boosted its holdings in Agree Realty by 54.3% in the first quarter. Heitman Real Estate Securities LLC now owns 380,126 shares of the real estate investment trust’s stock worth $19,866,000 after acquiring an additional 133,776 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Agree Realty by 46.5% in the first quarter. Principal Financial Group Inc. now owns 1,351,388 shares of the real estate investment trust’s stock worth $64,922,000 after acquiring an additional 429,009 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Agree Realty in the first quarter worth $2,085,000. Finally, Xact Kapitalforvaltning AB boosted its holdings in Agree Realty by 67.7% in the first quarter. Xact Kapitalforvaltning AB now owns 6,937 shares of the real estate investment trust’s stock worth $333,000 after acquiring an additional 2,800 shares in the last quarter. Institutional investors own 96.31% of the company’s stock.

Agree Realty Company Profile

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 December 31, 2017, the Company owned and operated a portfolio of 436 properties, located in 43 states and containing approximately 8.7 million square feet of gross leasable space.

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Analyst Recommendations for Agree Realty (NYSE:ADC)

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