As of Friday close, Agree Realty Corporation’s (NYSE:ADC) stock was up $0.07, moving up 0.11 percent to $61.37. The average number of shares traded per day over the past five days has been 1,225,220 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.26 fall in that time frame. In the last twenty days, the average volume was 981,865, while in the previous 50 days, it was 1,163,214.
Since last month, ADC stock retreated -8.18%. Shares of the company fell to $61.01 on 08/18/23, the lowest level in the past month. A 52-week high of $80.29 was reached on 02/02/23 after having rallying from a 52-week low of $61.24. Since the beginning of this year, ADC’s stock price has dropped by -13.48% or -$9.56, and marked a new high 7 times. However, the stock has declined by -23.56% 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 4 days ago on Aug 15. Coughenour Peter, the CHIEF FINANCIAL OFFICER of the company, purchased of 500 shares for $61.79 on Aug 15. It resulted in a $30,895 investment by the insider. Erlich Craig added 1,500 shares at an average price of $62.36 on Aug 14. The insider now owns 36,651 shares following the transaction. On Aug 14, CHIEF OPERATING OFFICER Erlich Craig bought 255 shares at $62.35 apiece. The transaction was valued at $15,900.
Valuation Metrics
Right now, Agree Realty Corporation (ADC) has a P/E ratio of about 34.89. The stock’s beta is 0.47. Besides these, the trailing price-to-sales (P/S) ratio of 12.22, the price-to-book (PB) ratio of 1.19.
The latest dividend of $0.2430 per share was paid out, remained unchanged from last year’s $0.2430.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.45, and the total debt-to-equity ratio was 0.45. On the profitability front, the trailing twelve-month gross margin is 88.00% percent. In the year ended June 29, operating margins totaled 48.40%. Based on annual data, ADC earned $218.09 million in gross profit and brought in $429.81 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 3.30%. Return on equity (ROE) for the past 12 months was 3.40%.
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 12.74%, the RSI 9-day stood at 26.95% on 18 August.
With respect to its five-day moving average, the current Agree Realty Corporation price is down by -3.55% percent or -$2.26. At present, ADC shares trade -8.81% below its 20-day simple moving average and -8.40% percent below its 100-day simple moving average. However, the stock is currently trading approximately -6.59% below its SMA50 and -10.67% below its SMA200.
Stochastic coefficient K was 4.52% and Stochastic coefficient D was 3.93%, while ATR was 1.05. Given the Stochastic reading of 6.87% for the 14-day period, the RSI (14) reading has been calculated as 31.75%. As of today, the MACD Oscillator reading stands at -1.19, while the 14-day reading stands at -1.80.
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 $75.00, the current consensus forecast for the stock is $67.00 – $78.00. Based on these forecasts, analysts predict Agree Realty Corporation (ADC) will achieve an average price target of $74.96.
