Investment Analysts’ Weekly Ratings Changes for Agree Realty (ADC)

Agree Realty (NYSE: ADC) has recently received a number of price target changes and ratings updates:

  • 12/27/2017 – Agree Realty was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Agree Realty Corp. is a self-administered, self-managed real estate investment trust which develops, acquires, owns and operates properties which are primarily leased to major national and regional retail companies under net leases. “
  • 12/19/2017 – Agree Realty was upgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating. They now have a $56.00 price target on the stock.
  • 12/15/2017 – Agree Realty was given a new $51.00 price target on by analysts at Jefferies Group LLC. They now have a “hold” rating on the stock.
  • 12/14/2017 – Agree Realty was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 11/30/2017 – Agree Realty was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 11/14/2017 – Agree Realty was given a new $58.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 11/14/2017 – Agree Realty was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 11/1/2017 – Agree Realty had its “buy” rating reaffirmed by analysts at B. Riley.
  • 10/31/2017 – Agree Realty was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Agree Realty Corp. is a self-administered, self-managed real estate investment trust which develops, acquires, owns and operates properties which are primarily leased to major national and regional retail companies under net leases. “

Shares of Agree Realty Co. (NYSE:ADC) opened at $51.22 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $1,482.12, a PE ratio of 25.11, a P/E/G ratio of 3.75 and a beta of 0.56. Agree Realty Co. has a fifty-two week low of $43.69 and a fifty-two week high of $53.65.

Agree Realty (NYSE:ADC) last announced its earnings results on Monday, October 23rd. The real estate investment trust reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.27). The firm had revenue of $30.39 million during the quarter, compared to the consensus estimate of $29.48 million. Agree Realty had a return on equity of 7.27% and a net margin of 49.26%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. research analysts anticipate that Agree Realty Co. will post 2.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, December 19th. This is an increase from Agree Realty’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 4.06%. Agree Realty’s payout ratio is currently 101.96%.

In related news, CFO Clayton R. Thelen acquired 1,010 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were purchased at an average price of $49.56 per share, for a total transaction of $50,055.60. Following the completion of the acquisition, the chief financial officer now directly owns 5,073 shares in the company, valued at approximately $251,417.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Rakolta, Jr. acquired 3,300 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were bought at an average price of $49.67 per share, for a total transaction of $163,911.00. The disclosure for this purchase can be found here. Insiders own 4.40% of the company’s stock.

Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).

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