Agree Realty Corporation (NYSE: ADC)’s stock price has soared by 0.62 in relation to previous closing price of 59.71. Nevertheless, the company has seen a loss of -0.86% in its stock price over the last five trading days. Seeking Alpha reported 2023-09-14 that Agree Realty is an investment grade rated REIT with a diverse portfolio of 2,004 properties across the US. The company’s leases are primarily “net lease” agreements, where tenants are responsible for operating costs. The REIT has not performed well over the last year, and we explain why we are still not long.
Is It Worth Investing in Agree Realty Corporation (NYSE: ADC) Right Now?
Agree Realty Corporation (NYSE: ADC) has a higher price-to-earnings ratio of 34.16x compared to its average ratio. compared to its average ratio and a 36-month beta value of 0.46. Analysts have mixed views on the stock, with 11 analysts rating it as a “buy,” 1 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for Agree Realty Corporation (ADC) is $74.79, which is $14.5 above the current market price. The public float for ADC is 94.71M, and currently, short sellers hold a 2.83% ratio of that float. The average trading volume of ADC on September 15, 2023 was 1.04M shares.
ADC’s Market Performance
ADC stock saw a decrease of -0.86% in the past week, with a monthly decline of -2.44% and a quarterly a decrease of -8.65%. The volatility ratio for the week is 1.00%, and the volatility levels for the last 30 days are 1.13% for Agree Realty Corporation (ADC). The simple moving average for the past 20 days is -1.90% for ADC’s stock, with a -11.32% simple moving average for the past 200 days.
Analysts’ Opinion of ADC
Many brokerage firms have already submitted their reports for ADC stocks, with Mizuho repeating the rating for ADC by listing it as a “Buy.” The predicted price for ADC in the upcoming period, according to Mizuho is $70 based on the research report published on June 22, 2023 of the current year 2023.
ADC Trading at -5.66% from the 50-Day Moving Average
After a stumble in the market that brought ADC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -20.64% of loss for the given period.
Volatility was left at 1.13%, however, over the last 30 days, the volatility rate increased by 1.00%, as shares sank -2.63% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.37% lower at present.
During the last 5 trading sessions, ADC fell by -0.86%, which changed the moving average for the period of 200-days by -14.74% in comparison to the 20-day moving average, which settled at $61.17. In addition, Agree Realty Corporation saw -15.30% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ADC starting from Coughenour Peter, who purchase 500 shares at the price of $61.79 back on Aug 15. After this action, Coughenour Peter now owns 6,543 shares of Agree Realty Corporation, valued at $30,895 using the latest closing price.
Erlich Craig, the CHIEF OPERATING OFFICER of Agree Realty Corporation, purchase 1,500 shares at $62.36 during a trade that took place back on Aug 14, which means that Erlich Craig is holding 36,651 shares at $93,540 based on the most recent closing price.
Stock Fundamentals for ADC
Current profitability levels for the company are sitting at:
- +50.50 for the present operating margin
- +57.51 for the gross margin
The net margin for Agree Realty Corporation stands at +35.38. The total capital return value is set at 3.68, while invested capital returns managed to touch 2.58. Equity return is now at value 3.40, with 2.30 for asset returns.
Based on Agree Realty Corporation (ADC), the company’s capital structure generated 43.22 points at debt to equity in total, while total debt to capital is 30.18. Total debt to assets is 29.80, with long-term debt to equity ratio resting at 44.80. Finally, the long-term debt to capital ratio is 30.09.
When we switch over and look at the enterprise to sales, we see a ratio of 15.98, with the company’s debt to enterprise value settled at 0.26. The receivables turnover for the company is 7.21 and the total asset turnover is 0.07.
Conclusion
To put it simply, Agree Realty Corporation (ADC) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
