The stock price of Agree Realty Corp. (NYSE: ADC) has surged by 0.01 when compared to previous closing price of 75.27, but the company has seen a 0.97% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-01 that For prudent retirement income seeking investors, securities that could be considered strategic fits should carry sound balance sheet, conservative cash flow profiles and at least above inflation-level growth prospects. In some situations, such strategic investments could also be tactically attractive in terms of producing strong returns over the near to medium-term. In this article, I present two investments that, in my opinion, should be seriously considered by defensive income investors.
Is It Worth Investing in Agree Realty Corp. (NYSE: ADC) Right Now?
The price-to-earnings ratio for Agree Realty Corp. (NYSE: ADC) is above average at 41.90x, Company’s 36-month beta value is 0.62.Analysts have differing opinions 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 11.50% ratio of that floaft. The average trading volume of ADC on October 03, 2024 was 989.04K shares.
ADC’s Market Performance
The stock of Agree Realty Corp. (ADC) has seen a 0.97% increase in the past week, with a 2.53% rise in the past month, and a 21.62% gain in the past quarter. The volatility ratio for the week is 1.30%, and the volatility levels for the past 30 days are at 1.33% for ADC. The simple moving average for the past 20 days is -0.07% for ADC’s stock, with a 19.63% simple moving average for the past 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 3.24% 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 -2.61% of loss for the given period.
Volatility was left at 1.33%, however, over the last 30 days, the volatility rate increased by 1.30%, as shares surge +0.91% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.88% upper at present.
During the last 5 trading sessions, ADC rose by +0.97%, which changed the moving average for the period of 200-days by +21.28% in comparison to the 20-day moving average, which settled at $75.37. In addition, Agree Realty Corp. saw 19.59% 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 17.63. The receivables turnover for the company is 6.15for trailing twelve months and the total asset turnover is 0.07.
Conclusion
In a nutshell, Agree Realty Corp. (ADC) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
