Agree Realty Corp. [ADC] stock is trading at $57.27, up 0.28%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The ADC shares have gain 3.54% over the last week, with a monthly amount drifted -0.81%, and not seem to be holding up well over a long-time horizon.
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On 13, February 2024, Agree Realty Corporation Reports Fourth Quarter and Full Year 2023 Results. In a post published today on Yahoo Finance, Fourth Quarter ATM Activity Creates $500 Million of Leverage Neutral Investment Capacity.
From an analyst’s perspective:
Agree Realty Corp. [NYSE: ADC] stock has seen the most recent analyst activity on February 13, 2024, when BMO Capital Markets initiated its Outperform rating and assigned the stock a price target of $69. Previously, JMP Securities upgraded its rating to Mkt Outperform on January 22, 2024, and kept the price target unchanged to $71. On December 13, 2023, downgrade downgraded it’s rating to Neutral but maintained its price target of $64 on the stock. Mizuho downgraded its rating to a Neutral and decreased its price target to $61 on December 11, 2023. Wells Fargo initiated its recommendation with a Overweight and recommended $70 as its price target on September 21, 2023. Mizuho upgraded its rating to Buy for this stock on June 22, 2023, but kept the price target unchanged to $70. In a note dated June 14, 2023, Exane BNP Paribas initiated an Outperform rating and provided a target price of $80 on this stock.
Agree Realty Corp. [ADC] stock has fluctuated between $52.69 and $71.12 over the past year. Currently, Wall Street analysts expect the stock to reach $78.36 within the next 12 months. Agree Realty Corp. [NYSE: ADC] shares were valued at $57.27 at the most recent close of the market. An investor can expect a potential return of 36.83% based on the average ADC price forecast.
Analyzing the ADC fundamentals
Agree Realty Corp. [NYSE:ADC] reported sales of 537.50M for the trailing twelve months, which represents a growth of 23.71%. Gross Profit Margin for this corporation currently stands at 0.81% with Operating Profit Margin at 0.48%, Pretax Profit Margin comes in at 0.32%, and Net Profit Margin reading is 0.25%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.03 and Total Capital is 0.03. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.46.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 56.83 points at the first support level, and at 56.39 for the second support level. However, for the 1st resistance point, the stock is sitting at 57.67, and for the 2nd resistance point, it is at 58.07.
Agree Realty Corp. [ADC] reported earnings per share of $0.41 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.45/share, meaning a difference of -$0.04 and a surprise factor of -8.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.37 per share as compared to estimates of $0.42 per share, a difference of -$0.05 representing a surprise of -11.90%.
Ratios To Look Out For
Considering the valuation of this stock, the price to sales ratio is 10.71, the price to book ratio is 1.15 and price to earnings (TTM) ratio is 33.68.
Transactions by insiders
Recent insider trading involved AGREE RICHARD, EXECUTIVE CHAIRMAN OF BOARD, that happened on Feb 29 ’24 when 16000.0 shares were purchased. Director, RAKOLTA JOHN JR completed a deal on Feb 21 ’24 to buy 20000.0 shares. Meanwhile, PRESIDENT & CEO Agree Joey bought 3500.0 shares on Feb 21 ’24.
