Agree Realty Corp. (ADC) Sees Unusually-High Trading Volume
Agree Realty Corp. (NYSE:ADC) shares saw unusually-high trading volume on Friday . Approximately 139,393 shares changed hands during trading, an increase of 7% from the previous session’s volume of 130,334 shares.The stock last traded at $48.37 and had previously closed at $47.68.
ADC has been the topic of several research analyst reports. Jefferies Group reiterated a “buy” rating and set a $47.00 price target on shares of Agree Realty Corp. in a research report on Wednesday, July 6th. Stifel Nicolaus initiated coverage on Agree Realty Corp. in a research report on Thursday, July 7th. They set a “buy” rating and a $54.00 price target on the stock. Finally, Wunderlich lifted their price target on Agree Realty Corp. from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $45.83.
The company has a market capitalization of $1.13 billion and a price-to-earnings ratio of 23.84. The firm has a 50 day moving average of $48.83 and a 200-day moving average of $43.26.
Agree Realty Corp. (NYSE:ADC) last released its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. The company had revenue of $21.84 million for the quarter, compared to analyst estimates of $21.27 million. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. On average, equities research analysts anticipate that Agree Realty Corp. will post $2.52 earnings per share for the current year.
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), of which it is the sole general partner and in which Agree Realty holds an approximately 98.3% interest.
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