At the last check on Friday, Agree Realty Corporation’s (NYSE:ADC) stock was up $1.46, moving up 2.27 percent to $65.96. The average number of shares traded per day over the past five days has been 1,164,282 shares. 2 times new highs have been achieved over the past 5 days, with a $0.27 gain in that time frame. In the last twenty days, the average volume was 937,671, while in the previous 50 days, it was 1,088,130.
Since last month, ADC stock rose 0.46%. Shares of the company fell to $62.67 on 08/02/23, the lowest level in the past month. A 52-week high of $80.44 was reached on 02/02/23 after having rallying from a 52-week low of $62.67. Since the beginning of this year, ADC’s stock price has dropped by -7.00% or -$4.98, and marked a new high 7 times. However, the stock has declined by -17.99% since its 52-week high.
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ADC stock investors should be aware that Agree Realty Corporation (ADC) stock had its last reported insider trading activity 1 day ago on Aug 03. AGREE RICHARD, the EXECUTIVE CHAIRMAN OF BOARD of the company, purchased of 18,249 shares for $63.70 on Aug 03. It resulted in a $1,162,461 investment by the insider. RAKOLTA JOHN JR added 30,000 shares at an average price of $63.02 on Aug 02. The insider now owns 330,056 shares following the transaction. On Aug 02, EXECUTIVE CHAIRMAN OF BOARD AGREE RICHARD bought 11,751 shares at $62.95 apiece. The transaction was valued at $739,725.
Valuation Metrics
Right now, Agree Realty Corporation (ADC) has a P/E ratio of about 37.61. The stock’s beta is 0.46. Besides these, the trailing price-to-sales (P/S) ratio of 13.67, the price-to-book (PB) ratio of 1.29.
The latest dividend of $0.2430 per share was paid out, remained unchanged from last year’s $0.2430. On Thursday April 13 2023, a $0.0030 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.44, and the total debt-to-equity ratio was 0.44. On the profitability front, the trailing twelve-month gross margin is 88.00% percent. Based on annual data, ADC earned $218.09 million in gross profit and brought in $429.81 million in revenue.
In Agree Realty Corporation’s quarter-end financial report for June 29, it reported total debt of $47.7 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. ADC’s revenue rose 24.3% to $126.62 million during the quarter, while net income inched up to $129.9 million. While analysts expected Agree Realty Corporation to report $0.43 quarterly earnings, the actual figure was $0.42 per share, beating the consensus estimate by -2.30%. During the quarter, the company generated $114.2 million in EBITDA. The value of shareholders’ equity is $96.27 million.
Technical Picture
This quick technical analysis looks at Agree Realty Corporation’s (ADC) price momentum. With a historical volatility rate of 30.04%, the RSI 9-day stood at 51.58% on 03 August.
With respect to its five-day moving average, the current Agree Realty Corporation price is up by +0.41% percent or $0.27. At present, ADC shares trade +1.29% above its 20-day simple moving average and -3.61% percent below its 100-day simple moving average. However, the stock is currently trading approximately +0.98% above its SMA50 and +2.30% above its SMA200.
Stochastic coefficient K was 27.77% and Stochastic coefficient D was 14.92%, while ATR was 1.33. Given the Stochastic reading of 49.77% for the 14-day period, the RSI (14) reading has been calculated as 50.80%. As of today, the MACD Oscillator reading stands at -1.36, while the 14-day reading stands at -1.69.
Analyst Ratings
Mizuho upgraded its rating on Agree Realty Corporation (NYSE: ADC) to a Buy in a note to investors on June 22, 2023. The analysts firm previously had a Neutral rating on the stock.Agree Realty Corporation (ADC) has been rated Buy by analysts. According to 0 brokerage firms, ADC is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Agree Realty Corporation stock as buy, with 11 recommending it as overweight.
With a median target price of $76.00, the current consensus forecast for the stock is $70.00 – $81.00. Based on these forecasts, analysts predict Agree Realty Corporation (ADC) will achieve an average price target of $75.88.
