Agree Realty Corp. (ADC) Sees Strong Trading Volume
Agree Realty Corp. (NYSE:ADC) shares saw an uptick in trading volume on Friday . 139,393 shares were traded during mid-day 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.
Several brokerages have recently commented on ADC. Jefferies Group lifted their target price on Agree Realty Corp. from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 14th. Wunderlich lifted their target price on Agree Realty Corp. from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Finally, Stifel Nicolaus assumed coverage on Agree Realty Corp. in a research report on Thursday, July 7th. They set a “buy” rating and a $54.00 price objective for the company. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. Agree Realty Corp. has an average rating of “Buy” and a consensus target price of $45.83.
The stock has a 50-day moving average price of $48.84 and a 200 day moving average price of $43.22. The firm has a market capitalization of $1.13 billion and a P/E ratio of 23.84.
Agree Realty Corp. (NYSE:ADC) last posted its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.61 earnings per share for the quarter, hitting the consensus estimate of $0.61. The business had revenue of $21.84 million for the quarter, compared to analyst estimates of $21.27 million. Agree Realty Corp.’s revenue was up 26.9% on a year-over-year basis. Equities research analysts expect that Agree Realty Corp. will post $2.52 earnings per share for the current fiscal 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.