Taking a look at what insiders are doing to gauge the Agree Realty Corporation (ADC)’s direction


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Agree Realty Corporation shares valued at $79,592 were purchased by Erlich Craig on Dec 29. At $16.25 per share, Erlich Craig acquired 4,898 shares. The insider’s holdings grew to 4,898 shares worth approximately $0.34 million following the completion of this transaction.

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Also, RAKOLTA JOHN JR purchased 11,000 shares, netting a total of over 785,180 in proceeds. Following the buying of shares at $71.38 each, the insider now holds 268,816 shares.

Before that, RAKOLTA JOHN JR had added 213 shares to its account. In a trade valued at $14,503, the Director bought Agree Realty Corporation shares for $68.09 each. Upon closing the transaction, the insider’s holdings increased to 213 shares, worth approximately $14922.78.

As published in their initiating research note from Credit Suisse on June 23, 2022, Agree Realty Corporation [ADC] has been an Outperform and the price target has been revised to $78. This represents a 10.18% premium over Wednesday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early June. As of May 10, 2022, JMP Securities has initiated its “Mkt outperform” rating for ADC. Earlier on April 01, 2022, Morgan Stanley initiated its rating. Their recommendation was “an Overweight” for ADC stock.

Analyzing ADC Stock Performance

On Wednesday, Agree Realty Corporation [NYSE: ADC] plunged -1.02% to $70.06. The stock’s lowest price that day was $69.185, but it reached a high of $70.595 in the same session. During the last five days, there has been a drop of approximately -4.08%. Over the course of the year, Agree Realty Corporation shares have dropped approximately -1.23%. Shares of the company reached a 52-week high of $75.71 on 02/02/23 and a 52-week low of $68.78 on 01/05/23. A 50-day SMA is recorded $72.67, while a 200-day SMA reached $71.86. Nevertheless, trading volume fell to 0.99 million shares from 0.62 million shares the previous day.

Support And Resistance Levels for Agree Realty Corporation (ADC)

According to the 24-hour chart, there is a support level at 69.30, which, if violated, would cause prices to drop to 68.54. In the upper region, resistance lies at 70.71. The next price resistance is at 71.36. RSI (Relative Strength Index) is 35.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.87, which suggests the price will decrease in the coming days. Percent R is at 85.18%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Agree Realty Corporation subject to short interest?

Stocks of Agree Realty Corporation saw a sharp steep in short interest on Jan 12, 2023 dropping by 70000.0 shares to 7.15 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 7.22 million shares. A decline of -0.98% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.15 of the overall float, the days-to-cover ratio (short ratio) decline to 8.15.

Which companies own the most shares of Agree Realty Corporation (ADC)?

According to BlackRock Fund Advisors filings, the company currently owns 14,765,531 shares, which is about 16.67% of the total ADC shares outstanding. The investor’s shares have appreciated by 2,701,455 from its previous 13-F filing of 12064076.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $1,026,205,711. Principal Global Investors LLC reduced a -9.68% interest valued at $426.48 million while SSgA Funds Management, Inc. purchased a 579,347 stake. A total of 3,759,175 shares of Agree Realty Corporation were bought by Principal Real Estate Investors L during the quarter, and 37,971 were bought by CenterSquare Investment Managemen. In its current portfolio, RREEF America LLC holds 2,847,771 shares valued at $212.53 million.

In terms of Agree Realty Corporation share price expectations, FactSet research, analysts set an average price target of $78.11 in the next 12 months, up nearly 10.2% from the previous closing price of $70.78. Analysts anticipate Agree Realty Corporation stock to reach $85.00 by 2023, with the lowest price target being $73.00. In spite of this, 15 analysts ranked Agree Realty Corporation stock as a Buy at the end of 2023. On February 08, 2022, BofA Securities assigned a price target of “a Neutral” to the stock and initiated coverage with a $72.


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