Agree Realty Corp. [ADC] stock is trading at $56.52, down -3.30%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The ADC shares have gain 0.39% over the last week, with a monthly amount drifted -2.87%, and not seem to be holding up well over a long-time horizon.
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On 8, April 2024, Agree Realty Announces First Quarter 2024 Earnings Release Date and Conference Call Information. In a post published today on Yahoo Finance, Agree Realty Corporation (NYSE: ADC) (the “Company”) today announced that it will release its first quarter 2024 operating results after the market closes on Tuesday, April 23, 2024. A conference call to discuss the Company’s operating results is scheduled for Wednesday, April 24, 2024 at 9:00 AM ET. Interested parties and shareholders may access the call via teleconference or webcast:.
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 $69.26 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 $56.52 at the most recent close of the market. An investor can expect a potential return of 38.64% 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.46.
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 55.79 points at the first support level, and at 55.07 for the second support level. However, for the 1st resistance point, the stock is sitting at 57.24, and for the 2nd resistance point, it is at 57.97.
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 10.57, the price to book ratio is 1.13 and price to earnings (TTM) ratio is 33.24.
Transactions by insiders
Recent insider trading involved Breslin Stephen, CHIEF ACCOUNTING OFFICER, that happened on Mar 14 ’24 when 450.0 shares were purchased. EXECUTIVE CHAIRMAN OF BOARD, AGREE RICHARD completed a deal on Feb 29 ’24 to buy 16000.0 shares. Meanwhile, Director RAKOLTA JOHN JR bought 20000.0 shares on Feb 21 ’24.
