Accept Realty Co. (NYSE: ADC – Get a rating) received an average recommendation of “moderate buy” by the twelve research companies that currently cover the stock, market beat reports. One equity research analyst rated the stock a sell recommendation, eight gave a buy recommendation and one gave the company a strong buy recommendation. The 12-month average target price among brokers who have hedged the stock over the past year is $78.41.
A number of research companies have recently published reports on CDA. JMP Securities lowered its price target on Agree Realty shares from $82.00 to $75.00 and set a “market outperformance” rating for the company in a Tuesday, October 18 report. Morgan Stanley lowered its price target on Agree Realty shares from $77.00 to $73.00 and set an “overweight” rating for the company in a Wednesday, November 2, report. Royal Bank of Canada raised its price target on Agree Realty shares from $76.00 to $83.00 and gave the company an “outperform” rating in a Thursday, Aug. 4, report. Raymond James dropped his price target on Agree Realty shares from $85.00 to $80.00 and set a “strong buy” rating for the company in a Tuesday, Oct. 4 report. Finally, Citigroup raised its price target on shares of Agree Realty to $80.00 in a Monday, August 15 report.
Agree on property price performance
Shares of NYSE ADC opened at $69.98 on Friday. The company has a market capitalization of $6.20 billion, a PE ratio of 38.24, a PEG ratio of 3.17 and a beta of 0.45. The company has a fifty-day moving average of $68.17 and a 200-day moving average of $71.45. The company has a debt ratio of 0.43, a quick ratio of 2.98 and a current ratio of 2.98. Agree Realty has a one-year low of $61.62 and a one-year high of $80.44.
Accept the real estate dividend announcement
The company also recently declared a monthly dividend, which will be paid on Wednesday, December 14. Shareholders of record on Wednesday, November 30 will receive a dividend of $0.24 per share. The ex-dividend date is Tuesday, November 29. This represents an annualized dividend of $2.88 and a dividend yield of 4.12%. Agree Realty’s dividend payout ratio is currently 157.38%.
Institutional trading of Agree Realty
Several hedge funds have recently changed their positions in the company. Balyasny Asset Management LLC increased its stake in Agree Realty shares by 264.7% during the third quarter. Balyasny Asset Management LLC now owns 364,004 shares of the real estate investment trust worth $24,599,000 after purchasing an additional 264,208 shares during the period. Jane Street Group LLC increased its stake in Agree Realty by 266.0% in the third quarter. Jane Street Group LLC now owns 30,285 shares of the real estate investment trust valued at $2,047,000 after purchasing an additional 22,010 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in Agree Realty by 6.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,254 shares of the real estate investment trust valued at $1,504,000 after purchasing an additional 1,422 shares in the last quarter. BNP Paribas Arbitrage SNC increased its stake in Agree Realty by 58.1% in the third quarter. BNP Paribas Arbitrage SNC now owns 89,003 shares of the real estate investment trust worth $6,015,000 after buying an additional 32,704 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in Agree Realty in the third quarter worth about $35,000.
Accept the profile of the real estate company
Agree Realty Corporation is a publicly traded real estate investment trust principally engaged in the acquisition and development of net leased properties to prime retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.
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