Last Updated: 09 Nov 2024
Executive Summary
Agree Realty Corporation (ADC) is a publicly traded real estate investment trust (REIT) that specializes in acquiring and developing net leased properties for industry-leading retail tenants. The company has a strong track record of growth and profitability, with a market capitalization of $8.03 billion. ADC's latest stock price is $75.81, and analysts have a consensus target price of $78.58, indicating a potential upside of 3.67%.
Company Overview
ADC was founded in 1994 and is headquartered in Bloomfield Hills, Michigan. The company's portfolio consists of over 1,600 properties located in 49 states and Canada. ADC's tenants include a diverse mix of national and regional retailers, including Walmart, Home Depot, and Kroger.
Fundamental Analysis
ADC has a strong financial profile, with an EBITDA of $465.1 million and a profit margin of 31.6%. The company's revenue has grown by 12.8% over the past year, and its earnings per share (EPS) have increased by 3.2%. ADC's balance sheet is also healthy, with a debt-to-equity ratio of 0.54.
Technical Analysis
ADC's stock price has been trending higher in recent months. The 50-day moving average is currently at $74.78, and the 200-day moving average is at $64.52. The stock is currently trading above both moving averages, indicating a bullish trend.
Short Term Outlook
In the short term, ADC's stock price is likely to continue to trend higher. The company's strong fundamentals and positive technical indicators suggest that the stock is undervalued. Investors may want to consider buying ADC stock at current levels.
Long Term Outlook
In the long term, ADC's stock price is expected to continue to grow. The company's strong business model and experienced management team are expected to drive continued growth in revenue and earnings. Investors who are looking for a long-term investment may want to consider adding ADC to their portfolio.
Analyst Recommendations
Analysts are generally bullish on ADC stock. Out of 18 analysts, 7 have a strong buy rating, 7 have a buy rating, 4 have a hold rating, and 0 have a sell or strong sell rating. The consensus target price is $78.58, indicating a potential upside of 3.67%.
