Investing in Agree Realty Corporation (ADC): What You Must Know


Agree Realty Corporation’s filing revealed that its CHIEF OPERATING OFFICER Erlich Craig acquired Company’s shares for reported $79592.0 on Dec 29. In the deal valued at $16.25 per share,4,898 shares were bought. As a result of this transaction, Erlich Craig now holds 4,898 shares worth roughly $ 0.34 million.

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Then, RAKOLTA JOHN JR bought 11,000 shares, generating $785,180 in total proceeds. Upon buying the shares at $71.38, the Director now owns 268,816 shares.

Before that, RAKOLTA JOHN JR bought 213 shares. Agree Realty Corporation shares valued at $14,503 were divested by the Director at a price of $68.09 per share. As a result of the transaction, RAKOLTA JOHN JR now holds 213 shares, worth roughly $14573.460000000001.

Credit Suisse initiated its Agree Realty Corporation [ADC] rating to an Outperform in a research note published on Monday, June 23, 2022; the price target was $78. PT values the company’s stock at a premium of 12.28 to its Monday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in early June from “a Neutral” to “a Buy”. JMP Securities began covering ADC with “Mkt outperform” recommendation on May 10, 2022. Morgan Stanley started covering the stock on April 01, 2022. It rated ADC as “an Overweight”.

Price Performance Review of ADC

On Monday, Agree Realty Corporation [NYSE:ADC] saw its stock jump 2.46% to $68.42. On the same session, the stock had its day’s lowest price of $66.265, but rose to a high of $68.69. Over the last five days, the stock has lost -2.96%. Agree Realty Corporation shares have fallen nearly -3.54% since the year began. Nevertheless, the stocks have risen 6.34% over the past one year. While a 52-week high of $80.44 was reached on 02/02/23, a 52-week low of $62.63 was recorded on 03/13/23. SMA at 50 days reached $72.48, while 200 days put it at $71.90. A total of 1.02 million shares were traded, compared to the trading of 0.74 million shares in the previous session.

Levels Of Support And Resistance For ADC Stock

The 24-hour chart illustrates a support level at 66.89, which if violated will result in even more drops to 65.37. On the upside, there is a resistance level at 69.32. A further resistance level may holdings at 70.22. The Relative Strength Index (RSI) on the 14-day chart is 36.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 73.11%. Stochastics %K at 11.70% indicates the stock is a buying.

How much short interest is there in Agree Realty Corporation?

A steep rise in short interest was recorded in Agree Realty Corporation stocks on Jan 12, 2023, dropping by 70000.0 shares to a total of 7.15 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 7.22 million shares. There was a decline of -0.98%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 11.46% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.15.

Agree Realty Corporation [ADC] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 14,765,531 shares, or roughly 16.38% of the outstanding ADC shares. In other words, the investor’s shares have risen by 2,701,455 from its previous 13-F filing of 12064076.0. Additionally, The Vanguard Group, Inc. increased 10.47% of its stake after which the total value it holdings stand at $973,265,982, while Principal Global Investors LLC reduced -9.68% of its stake to hold $404.48 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 579,347 shares of Agree Realty Corporation, while Principal Real Estate Investors L bought 3,759,175 shares. At present, CenterSquare Investment Managemen is holding 3,286,053 shares valued at $232.59 million. RREEF America LLC owned 2,847,771 shares of the company at the time of its most recent 13F filing, worth $201.57 million.

According to FactSet, Agree Realty Corporation’s share price will average $77.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.43 percent from its previous closing price of $66.78. Analysts expect Agree Realty Corporation stock to reach the higher price of $85.00, while the lowest price estimate is $73.00. However, 15 analysts have rated ADC stock as a Buy in their predictions for 2023. The most recent change occurred on February 08, 2022 when BofA Securities began covering the stock and recommended ‘”a Neutral”‘ rating along with a $72 price target.


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