Agree Realty Corp. (NYSE: ADC)’s stock price has soared by 1.41 in relation to previous closing price of 57.56. Nevertheless, the company has seen a gain of 5.78% in its stock price over the last five trading days. Seeking Alpha reported 2024-04-24 that Agree Realty is a single tenant net lease REIT focused on “next generation” retail assets and ground leases. ADC reported strong first quarter earnings, with AFFO per share growth beating expectations and outpacing key competitors. The company continues taking a tactical approach to acquisitions and dispositions and maintaining a conservative financial position during a tumultuous time for net lease assets.
Is It Worth Investing in Agree Realty Corp. (NYSE: ADC) Right Now?
Agree Realty Corp. (NYSE: ADC) has a price-to-earnings ratio of 34.33x that is above its average ratio. Additionally, the 36-month beta value for ADC is 0.52. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 4 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
The public float for ADC is 98.81M and currently, short sellers hold a 4.38% ratio of that float. The average trading volume of ADC on April 25, 2024 was 1.06M shares.
ADC’s Market Performance
ADC’s stock has seen a 5.78% increase for the week, with a 4.08% rise in the past month and a -1.24% fall in the past quarter. The volatility ratio for the week is 1.88%, and the volatility levels for the past 30 days are at 1.57% for Agree Realty Corp. The simple moving average for the past 20 days is 3.31% for ADC’s stock, with a -1.56% simple moving average for the past 200 days.
Analysts’ Opinion of ADC
Many brokerage firms have already submitted their reports for ADC stocks, with BMO Capital Markets repeating the rating for ADC by listing it as a “Outperform.” The predicted price for ADC in the upcoming period, according to BMO Capital Markets is $69 based on the research report published on February 13, 2024 of the current year 2024.
JMP Securities, on the other hand, stated in their research note that they expect to see ADC reach a price target of $71. The rating they have provided for ADC stocks is “Mkt Outperform” according to the report published on January 22nd, 2024.
Exane BNP Paribas gave a rating of “Neutral” to ADC, setting the target price at $64 in the report published on December 13th of the previous year.
ADC Trading at 3.15% 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 -15.72% of loss for the given period.
Volatility was left at 1.57%, however, over the last 30 days, the volatility rate increased by 1.88%, as shares surge +4.23% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.38% upper at present.
During the last 5 trading sessions, ADC rose by +5.78%, which changed the moving average for the period of 200-days by -9.91% in comparison to the 20-day moving average, which settled at $56.62. In addition, Agree Realty Corp. saw -7.28% 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 Breslin Stephen, who purchase 450 shares at the price of $55.33 back on Mar 14 ’24. After this action, Breslin Stephen now owns 10,441 shares of Agree Realty Corp., valued at $24,898 using the latest closing price.
AGREE RICHARD, the EXECUTIVE CHAIRMAN OF BOARD of Agree Realty Corp., purchase 16,000 shares at $55.50 during a trade that took place back on Feb 29 ’24, which means that AGREE RICHARD is holding 135,855 shares at $888,000 based on the most recent closing price.
Stock Fundamentals for ADC
Current profitability levels for the company are sitting at:
- 0.48 for the present operating margin
- 0.82 for the gross margin
The net margin for Agree Realty Corp. stands at 0.31. The total capital return value is set at 0.04. Equity return is now at value 3.45, with 2.34 for asset returns.
Based on Agree Realty Corp. (ADC), the company’s capital structure generated 0.26 points at debt to capital in total, while cash flow to debt ratio is standing at 0.22. The debt to equity ratio resting at 0.35. The interest coverage ratio of the stock is -51.9.
Currently, EBITDA for the company is 437.65 million with net debt to EBITDA at 4.41. When we switch over and look at the enterprise to sales, we see a ratio of 13.75. The receivables turnover for the company is 6.14for trailing twelve months and the total asset turnover is 0.07.
Conclusion
In conclusion, Agree Realty Corp. (ADC) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
