Agree Realty (NYSE:ADC) Price Target Raised to $86.00 at Mizuho

Agree Realty (NYSE:ADC) had its price objective hoisted by Mizuho from $75.00 to $86.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price suggests a potential upside of 6.89% from the company’s previous close.

A number of other research firms have also recently commented on ADC. Royal Bank Of Canada upped their target price on shares of Agree Realty from $79.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. UBS Group boosted their price target on shares of Agree Realty from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Monday. Barclays upped their price objective on shares of Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 3rd. Evercore lowered their price objective on shares of Agree Realty from $85.00 to $83.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Finally, Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a report on Tuesday, January 27th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Agree Realty presently has an average rating of “Moderate Buy” and an average price target of $82.32.

Agree Realty Stock Performance

NYSE ADC opened at $80.46 on Wednesday. The stock has a market cap of $9.66 billion, a PE ratio of 45.46, a P/E/G ratio of 3.15 and a beta of 0.52. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. Agree Realty has a twelve month low of $68.98 and a twelve month high of $82.08. The stock has a fifty day simple moving average of $75.23 and a 200-day simple moving average of $73.65.

Insider Transactions at Agree Realty

In other Agree Realty news, Chairman Richard Agree acquired 24,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was purchased at an average price of $70.67 per share, for a total transaction of $1,696,080.00. Following the completion of the acquisition, the chairman owned 159,855 shares of the company’s stock, valued at approximately $11,296,952.85. This trade represents a 17.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter Coughenour bought 500 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were acquired at an average cost of $69.80 per share, for a total transaction of $34,900.00. Following the completion of the purchase, the chief financial officer owned 18,544 shares in the company, valued at $1,294,371.20. This trade represents a 2.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 39,500 shares of company stock valued at $2,813,680. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Agree Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADC. Corient Private Wealth LLC grew its stake in shares of Agree Realty by 25.0% in the fourth quarter. Corient Private Wealth LLC now owns 7,298 shares of the real estate investment trust’s stock worth $526,000 after acquiring an additional 1,458 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Agree Realty by 25.5% in the fourth quarter. Hsbc Holdings PLC now owns 295,693 shares of the real estate investment trust’s stock valued at $21,299,000 after acquiring an additional 60,159 shares in the last quarter. Pure Financial Advisors LLC purchased a new position in Agree Realty in the fourth quarter valued at $244,000. Compound Planning Inc. boosted its holdings in Agree Realty by 18.2% in the fourth quarter. Compound Planning Inc. now owns 4,177 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 643 shares during the period. Finally, Invesco Ltd. grew its stake in Agree Realty by 11.0% during the 4th quarter. Invesco Ltd. now owns 468,934 shares of the real estate investment trust’s stock worth $33,777,000 after purchasing an additional 46,492 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.