The stock of Agree Realty Corp. (NYSE: ADC) has decreased by -2.00 when compared to last closing price of 75.64. Despite this, the company has experienced a -2.31% fall in its stock price over the last five trading sessions. seekingalpha.com reported 2024-09-19 that REITs are attractive for income investors due to their high dividend payouts, and office REITs, in particular, offer solid long-term upside as office activity could see an increase in 2025/2026. Kilroy Realty Corp. has underperformed its peers but offers a 5.7% dividend yield, a well-covered payout ratio, and a strong balance sheet with investment-grade credit. American Assets Trust has shown better recent performance with a 15.14% share price increase, solid balance sheet, and growth potential in affluent areas like San Diego and Honolulu.
Is It Worth Investing in Agree Realty Corp. (NYSE: ADC) Right Now?
Agree Realty Corp. (NYSE: ADC) has a higher price-to-earnings ratio of 41.26x compared to its average ratio. ADC has 36-month beta value of 0.62. Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 4 as “overweight,” 3 as “hold,” and 0 as “sell.”
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The public float for ADC is 98.79M, and currently, short sellers hold a 10.45% ratio of that float. The average trading volume of ADC on September 20, 2024 was 979.64K shares.
ADC’s Market Performance
ADC stock saw an increase of -2.31% in the past week, with a monthly gain of 2.72% and a quarterly increase of 21.09%. The volatility ratio for the week is 1.56%, and the volatility levels for the last 30 days are 1.35% for Agree Realty Corp. (ADC). The simple moving average for the last 20 days is -0.51% for ADC stock, with a simple moving average of 19.02% for the last 200 days.
Analysts’ Opinion of ADC
Many brokerage firms have already submitted their reports for ADC stocks, with UBS repeating the rating for ADC by listing it as a “Neutral.” The predicted price for ADC in the upcoming period, according to UBS is $60 based on the research report published on May 31, 2024 of the current year 2024.
BMO Capital Markets, on the other hand, stated in their research note that they expect to see ADC reach a price target of $69. The rating they have provided for ADC stocks is “Outperform” according to the report published on February 13th, 2024.
JMP Securities gave a rating of “Mkt Outperform” to ADC, setting the target price at $71 in the report published on January 22nd of the current year.
ADC Trading at 4.08% 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 -4.10% of loss for the given period.
Volatility was left at 1.35%, however, over the last 30 days, the volatility rate increased by 1.56%, as shares surge +1.90% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +19.43% upper at present.
During the last 5 trading sessions, ADC fell by -2.31%, which changed the moving average for the period of 200-days by +23.32% in comparison to the 20-day moving average, which settled at $74.58. In addition, Agree Realty Corp. saw 17.76% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ADC starting from RAKOLTA JOHN JR, who purchase 20,000 shares at the price of $59.32 back on May 23 ’24. After this action, RAKOLTA JOHN JR now owns 436,011 shares of Agree Realty Corp., valued at $1,186,400 using the latest closing price.
Lehmkuhl Greg, the Director of Agree Realty Corp., purchase 1,000 shares at $58.99 during a trade that took place back on May 23 ’24, which means that Lehmkuhl Greg is holding 23,036 shares at $58,990 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
- 0.72 for the gross margin
The net margin for Agree Realty Corp. stands at 0.32. The total capital return value is set at 0.04. Equity return is now at value 3.68, with 2.45 for asset returns.
Based on Agree Realty Corp. (ADC), the company’s capital structure generated 0.34 points at debt to capital in total, while cash flow to debt ratio is standing at 0.15. The debt to equity ratio resting at 0.52. The interest coverage ratio of the stock is 5.56.
Currently, EBITDA for the company is 437.65 million with net debt to EBITDA at 6.19. When we switch over and look at the enterprise to sales, we see a ratio of 17.43. The receivables turnover for the company is 6.15for trailing twelve months and the total asset turnover is 0.07.
Conclusion
To put it simply, Agree Realty Corp. (ADC) has had a better 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 is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
