Fintel reports that on December 12, 2024, Evercore ISI Group initiated coverage of Agree Realty (NYSE:ADC) with a Outperform recommendation.
Analyst Price Forecast Suggests 9.07% Upside
As of December 3, 2024, the average one-year price target for Agree Realty is $81.06/share. The forecasts range from a low of $71.71 to a high of $93.45. The average price target represents an increase of 9.07% from its latest reported closing price of $74.32 / share.
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The projected annual revenue for Agree Realty is 617MM, an increase of 2.82%. The projected annual non-GAAP EPS is 1.73.
What is the Fund Sentiment?
There are 917 funds or institutions reporting positions in Agree Realty. This is an increase of 58 owner(s) or 6.75% in the last quarter. Average portfolio weight of all funds dedicated to ADC is 0.35%, an increase of 7.98%. Total shares owned by institutions increased in the last three months by 10.50% to 136,560K shares. 
The put/call ratio of ADC is 0.28, indicating a bullish outlook.
What are Other Shareholders Doing?
Cohen & Steers holds 6,830K shares representing 6.60% ownership of the company. In its prior filing, the firm reported owning 4,714K shares , representing an increase of 30.98%. The firm increased its portfolio allocation in ADC by 49.57% over the last quarter.
Principal Financial Group holds 4,187K shares representing 4.04% ownership of the company. In its prior filing, the firm reported owning 4,596K shares , representing a decrease of 9.77%. The firm decreased its portfolio allocation in ADC by 52.52% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 4,031K shares representing 3.89% ownership of the company. In its prior filing, the firm reported owning 4,107K shares , representing a decrease of 1.89%. The firm increased its portfolio allocation in ADC by 5.40% over the last quarter.
Jpmorgan Chase holds 3,647K shares representing 3.52% ownership of the company. In its prior filing, the firm reported owning 2,656K shares , representing an increase of 27.16%. The firm decreased its portfolio allocation in ADC by 89.57% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,211K shares representing 3.10% ownership of the company. In its prior filing, the firm reported owning 3,206K shares , representing an increase of 0.14%. The firm increased its portfolio allocation in ADC by 14.38% over the last quarter.
Agree Realty Background Information
(This description is provided by the company.)
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 December 31, 2020, the Company owned and operated a portfolio of 1,129 properties, located in 46 states and containing approximately 22.7 million square feet of gross leasable area.
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