UBS Group Issues Positive Forecast for Agree Realty (NYSE:ADC) Stock Price

Agree Realty (NYSE:ADC) had its price objective lifted by stock analysts at UBS Group from $82.00 to $91.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price objective would suggest a potential upside of 12.40% from the stock’s current price.

A number of other research analysts have also recently issued reports on ADC. Wells Fargo & Company raised their target price on shares of Agree Realty from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada boosted their price target on Agree Realty from $79.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Weiss Ratings upgraded Agree Realty from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 3rd. Finally, Barclays raised their price target on Agree Realty from $77.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 3rd. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.32.

Agree Realty Price Performance

NYSE ADC traded down $0.39 on Monday, hitting $80.96. The stock had a trading volume of 1,586,887 shares, compared to its average volume of 1,388,949. The firm has a 50-day moving average of $74.91 and a 200-day moving average of $73.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.81 and a current ratio of 0.81. Agree Realty has a 52-week low of $68.98 and a 52-week high of $82.08. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 45.74, a price-to-earnings-growth ratio of 3.16 and a beta of 0.51.

Insider Transactions at Agree Realty

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

Hedge Funds Weigh In On Agree Realty

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Clearstead Trust LLC grew its stake in shares of Agree Realty by 192.1% during the fourth quarter. Clearstead Trust LLC now owns 368 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 242 shares during the last quarter. Westside Investment Management Inc. raised its holdings in shares of Agree Realty by 100.0% in the third quarter. Westside Investment Management Inc. now owns 430 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 215 shares during the last quarter. Wiser Advisor Group LLC purchased a new position in shares of Agree Realty in the third quarter worth $32,000. Clearstead Advisors LLC grew its holdings in shares of Agree Realty by 163.8% during the fourth quarter. Clearstead Advisors LLC now owns 459 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 285 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Agree Realty by 71.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 462 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 192 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

About Agree Realty

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.