Agree Realty (NYSE:ADC) has been assigned a $51.00 price target by stock analysts at Jefferies Group in a research note issued on Friday. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Jefferies Group’s price objective would indicate a potential downside of 1.33% from the stock’s previous close. Jefferies Group also issued estimates for Agree Realty’s Q4 2017 earnings at $0.70 EPS, FY2017 earnings at $2.71 EPS and FY2019 earnings at $3.12 EPS.

Other analysts have also recently issued reports about the stock. B. Riley reiterated a “buy” rating on shares of Agree Realty in a research note on Wednesday, November 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $54.00 target price on shares of Agree Realty in a research note on Tuesday, October 24th. FBR & Co reiterated a “buy” rating and issued a $58.00 target price on shares of Agree Realty in a research note on Tuesday, October 24th. ValuEngine cut shares of Agree Realty from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Agree Realty in a research note on Tuesday, October 24th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $53.25.

Shares of Agree Realty (NYSE:ADC) opened at $51.69 on Friday. Agree Realty has a 1-year low of $43.66 and a 1-year high of $51.96. The firm has a market cap of $1,497.90, a PE ratio of 19.35, a PEG ratio of 3.78 and a beta of 0.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.63 and a quick ratio of 1.63.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.27). The firm had revenue of $30.39 million during the quarter, compared to the consensus estimate of $29.48 million. Agree Realty had a net margin of 49.26% and a return on equity of 7.27%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 earnings per share. sell-side analysts predict that Agree Realty will post 2.71 earnings per share for the current fiscal year.

In other Agree Realty news, Director John Rakolta, Jr. acquired 3,300 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was acquired at an average cost of $49.67 per share, for a total transaction of $163,911.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Clayton R. Thelen acquired 1,010 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were acquired at an average price of $49.56 per share, with a total value of $50,055.60. Following the completion of the purchase, the chief financial officer now owns 5,073 shares in the company, valued at approximately $251,417.88. The disclosure for this purchase can be found here. Insiders own 4.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. GSA Capital Partners LLP increased its holdings in shares of Agree Realty by 20.8% during the 3rd quarter. GSA Capital Partners LLP now owns 34,515 shares of the real estate investment trust’s stock valued at $1,694,000 after purchasing an additional 5,947 shares in the last quarter. Sterling Capital Management LLC purchased a new position in shares of Agree Realty during the 3rd quarter valued at approximately $989,000. California Public Employees Retirement System increased its holdings in shares of Agree Realty by 7.3% during the 3rd quarter. California Public Employees Retirement System now owns 45,079 shares of the real estate investment trust’s stock valued at $2,212,000 after purchasing an additional 3,079 shares in the last quarter. Boothbay Fund Management LLC increased its holdings in shares of Agree Realty by 18.6% during the 3rd quarter. Boothbay Fund Management LLC now owns 11,488 shares of the real estate investment trust’s stock valued at $564,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. increased its holdings in shares of Agree Realty by 2.1% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 403,356 shares of the real estate investment trust’s stock valued at $19,796,000 after purchasing an additional 8,196 shares in the last quarter. 87.22% of the stock is owned by hedge funds and other institutional investors.

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About Agree Realty

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). As of December 31, 2016, its portfolio consisted of 366 properties located in 43 states and totaling approximately seven million square feet of gross leasable area (GLA).

Analyst Recommendations for Agree Realty (NYSE:ADC)

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