Last Updated: 13 Sep 2024
Executive Summary
Agree Realty Corporation (ADC) is a publicly traded real estate investment trust (REIT) that focuses on acquiring and developing net leased properties for leading retail tenants. As of the latest stock price of $75.88, ADC has a market capitalization of $7.66 billion. The company has strong fundamentals, with a trailing price-to-earnings (PE) ratio of 42.39 and a dividend yield of 0.0395%. Technical analysis suggests that the stock is in a bullish trend, with a 50-day moving average of $70.08 and a 200-day moving average of $61.93. Analysts are generally positive on the stock, with 7 strong buy ratings, 7 buy ratings, and 4 hold ratings.
Company Overview
Agree Realty Corporation was founded in 1994 and is headquartered in Bloomfield Hills, Michigan. The company's portfolio consists of over 1,500 properties located in 49 states and Puerto Rico. ADC's tenants include a mix of national and regional retailers, such as Walmart, Home Depot, and Dollar General.
Fundamental Analysis
ADC has a strong financial profile. The company's revenue has grown at a steady pace in recent years, and its profit margin is healthy at 32.1%. ADC also has a strong balance sheet, with low levels of debt and ample liquidity.
Technical Analysis
The technical analysis of ADC's stock chart suggests that the stock is in a bullish trend. The stock is trading above its 50-day and 200-day moving averages, and it has formed a series of higher highs and higher lows. The relative strength index (RSI) is also in bullish territory, indicating that the stock is overbought.
Short Term Outlook
In the short term, ADC's stock is likely to continue to trade in a bullish trend. The stock is trading above its key moving averages, and it has formed a series of higher highs and higher lows. The RSI is also in bullish territory, indicating that the stock is overbought.
Long Term Outlook
In the long term, ADC's stock is likely to continue to perform well. The company has a strong financial profile, and its portfolio of properties is well-diversified. ADC also has a strong track record of dividend growth, and it is likely to continue to increase its dividend in the future.
Analyst Recommendations
Analysts are generally positive on ADC's stock. The consensus recommendation is buy, with a target price of $74.03. Seven analysts have a strong buy rating on the stock, seven have a buy rating, and four have a hold rating.
