For Agree Realty Corporation [ADC], Analyst sees a rise to $78. What next?

Agree Realty Corporation [NYSE: ADC] closed the trading session at $65.74 on 09/29/22. The day’s price range saw the stock hit a low of $64.92, while the highest price level was $66.14. The company report on September 29, 2022 that Agree Realty Announces Pricing of Forward Common Stock Offering.


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Agree Realty Corporation (NYSE: ADC) (the “Company”) today announced the pricing of its public offering of 5,000,000 shares of its common stock at a public offering price of $66.85 per share in connection with the forward sale agreements described below. The Company also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock. The offering is expected to close on or about October 3, 2022.

Morgan Stanley and Citigroup are acting as joint book-running managers for the offering.

The stocks have a year to date performance of -7.88 percent and weekly performance of -7.26 percent. The stock has been moved at 1.06 percent over the last six months. The stock has performed -13.47 percent around the most recent 30 days and changed -8.86 percent over the most recent 3-months.

If compared to the average trading volume of 689.98K shares, ADC reached to a volume of 3288080 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Agree Realty Corporation [ADC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ADC shares is $82.16 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ADC stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Agree Realty Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 23, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price from $76 to $78. The new note on the price target was released on June 02, 2022, representing the official price target for Agree Realty Corporation stock. Previously, the target price had yet another raise to $81, while JMP Securities analysts kept a Mkt Outperform rating on ADC stock.

The Average True Range (ATR) for Agree Realty Corporation is set at 1.81, with the Price to Sales ratio for ADC stock in the period of the last 12 months amounting to 13.68. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 0.33. Price to Free Cash Flow for ADC in the course of the last twelve months was 197.29.

ADC stock trade performance evaluation

Agree Realty Corporation [ADC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.26. With this latest performance, ADC shares dropped by -13.47% in over the last four-week period, additionally plugging by 1.06% over the last 6 months – not to mention a drop of -2.49% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ADC stock in for the last two-week period is set at 24.75, with the RSI for the last a single of trading hit 20.81, and the three-weeks RSI is set at 29.15 for Agree Realty Corporation [ADC]. The present Moving Average for the last 50 days of trading for this stock 75.65, while it was recorded at 68.69 for the last single week of trading, and 69.87 for the last 200 days.

Agree Realty Corporation [ADC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Agree Realty Corporation [ADC] shares currently have an operating margin of +52.19 and a Gross Margin at +59.69. Agree Realty Corporation’s Net Margin is presently recorded at +35.93.

Return on Equity for this stock inclined to 4.10, with Return on Assets sitting at 2.68.

Earnings per share (EPS) analysis for Agree Realty Corporation [ADC] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ADC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Agree Realty Corporation go to 2.53%.

Agree Realty Corporation [ADC]: Insider Ownership positions

There are presently around $5,710 million, in the hands of institutional investors. The top three institutional holders of ADC stocks are: BLACKROCK INC. with ownership of 14,356,091, which is approximately 3.125% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 11,846,862 shares of the stock with an approximate value of $778.81 million in ADC stocks shares; and PRINCIPAL FINANCIAL GROUP INC, currently with $406.9 million in ADC stock with ownership of nearly 3.164% of the company’s market capitalization.

205 institutional holders increased their position in Agree Realty Corporation [NYSE:ADC] by around 13,349,639 shares. Additionally, 129 investors decreased positions by around 5,229,059 shares, while 46 investors held positions by with 68,282,001 shares. The mentioned changes placed institutional holdings at 86,860,699 shares, according to the latest SEC report filing. ADC stock had 54 new institutional investments in for a total of 4,059,691 shares, while 40 institutional investors sold positions of 1,797,259 shares during the same period.

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