Agree Realty (ADC) Lowered to Neutral at LADENBURG THALM/SH SH

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LADENBURG THALM/SH SH cut shares of Agree Realty (NYSE:ADC) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat.com reports.

ADC has been the subject of several other reports. Raymond James raised Agree Realty from an outperform rating to a strong-buy rating in a research report on Tuesday, January 8th. Jefferies Financial Group raised Agree Realty from a hold rating to a buy rating and boosted their price objective for the stock from $60.00 to $70.00 in a report on Thursday, December 13th. Finally, Citigroup boosted their price objective on Agree Realty from $57.00 to $61.00 and gave the stock a neutral rating in a report on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $62.00.

ADC stock opened at $66.32 on Monday. Agree Realty has a 1-year low of $43.74 and a 1-year high of $66.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $2.30 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 4.32 and a beta of 0.22.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC purchased a new position in shares of Agree Realty in the 4th quarter worth approximately $31,000. We Are One Seven LLC purchased a new position in Agree Realty in the fourth quarter valued at approximately $33,000. IFP Advisors Inc lifted its stake in Agree Realty by 33.8% in the fourth quarter. IFP Advisors Inc now owns 669 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 169 shares during the last quarter. LS Investment Advisors LLC lifted its stake in Agree Realty by 226.3% in the fourth quarter. LS Investment Advisors LLC now owns 3,051 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 2,116 shares during the last quarter. Finally, Exane Derivatives lifted its stake in Agree Realty by 171,950.0% in the fourth quarter. Exane Derivatives now owns 3,441 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 3,439 shares during the last quarter.

Agree Realty Company Profile

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2018, the Company owned and operated a portfolio of 520 properties, located in 45 states and containing approximately 10.0 million square feet of gross leasable space.

See Also: Consumer Price Index (CPI)

Analyst Recommendations for Agree Realty (NYSE:ADC)

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