Fintel reports that on June 12, 2024, Keybanc initiated coverage of Agree Realty (NYSE:ADC) with a Overweight recommendation.
Analyst Price Forecast Suggests 10.92% Upside
As of June 12, 2024, the average one-year price target for Agree Realty is 66.81. The forecasts range from a low of 60.60 to a high of $74.55. The average price target represents an increase of 10.92% from its latest reported closing price of 60.23.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Agree Realty is 617MM, an increase of 10.19%. The projected annual non-GAAP EPS is 1.73.
What is the Fund Sentiment?
There are 834 funds or institutions reporting positions in Agree Realty. This is an increase of 14 owner(s) or 1.71% in the last quarter. Average portfolio weight of all funds dedicated to ADC is 0.31%, an increase of 11.59%. Total shares owned by institutions decreased in the last three months by 3.53% to 115,637K shares. 
The put/call ratio of ADC is 1.61, indicating a bearish outlook.
What are Other Shareholders Doing?
Principal Financial Group holds 5,677K shares representing 5.65% ownership of the company. In its prior filing, the firm reported owning 6,661K shares , representing a decrease of 17.33%. The firm decreased its portfolio allocation in ADC by 61.39% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 3,888K shares representing 3.87% ownership of the company. In its prior filing, the firm reported owning 3,842K shares , representing an increase of 1.17%. The firm decreased its portfolio allocation in ADC by 5.58% over the last quarter.
Centersquare Investment Management holds 3,469K shares representing 3.46% ownership of the company. In its prior filing, the firm reported owning 3,568K shares , representing a decrease of 2.87%. The firm decreased its portfolio allocation in ADC by 74.66% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,140K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 3,132K shares , representing an increase of 0.26%. The firm decreased its portfolio allocation in ADC by 17.06% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,123K shares representing 3.11% ownership of the company. In its prior filing, the firm reported owning 3,051K shares , representing an increase of 2.30%. The firm decreased its portfolio allocation in ADC by 16.40% 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.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
