In a filing, Agree Realty Corp. revealed its CHIEF ACCOUNTING OFFICER Breslin Stephen acquired Company’s shares for reported $24898.0 on Mar 14 ’24. In the deal valued at $55.33 per share,450 shares were bought. As a result of this transaction, Breslin Stephen now holds 10,441 shares worth roughly $0.59 million.
Then, AGREE RICHARD bought 16,000 shares, generating $888,000 in total proceeds. Upon buying the shares at $55.50, the EXECUTIVE CHAIRMAN OF BOARD now owns 135,855 shares.
Before that, RAKOLTA JOHN JR bought 20,000 shares. Agree Realty Corp. shares valued at $1,135,000 were divested by the Director at a price of $56.75 per share. As a result of the transaction, RAKOLTA JOHN JR now holds 412,651 shares, worth roughly $23.12 million.
BMO Capital Markets initiated its Agree Realty Corp. [ADC] rating to an Outperform in a research note published on February 13, 2024; the price target was $69. A number of analysts have revised their coverage, including JMP Securities’s analysts, who increased its forecast for the stock in late January from “a Mkt perform” to “a Mkt outperform”. Exane BNP Paribas also remained covering ADC and has decreased its forecast on December 13, 2023 with a “Neutral” recommendation from previously “an Outperform” rating. Mizuho revised its rating on December 11, 2023. It rated ADC as “a Neutral” which previously was an “a Buy”.
Price Performance Review of ADC
On Friday, Agree Realty Corp. [NYSE:ADC] saw its stock fall -0.36% to $56.03. Over the last five days, the stock has lost -1.91%. Agree Realty Corp. shares have fallen nearly -10.99% since the year began. Nevertheless, the stocks have fallen -17.19% over the past one year. While a 52-week high of $69.26 was reached on 01/08/24, a 52-week low of $52.69 was recorded on 03/01/24. SMA at 50 days reached $57.22, while 200 days put it at $59.83. A total of 0.63 million shares were traded, compared to the trading of 0.87 million shares in the previous session.
Levels Of Support And Resistance For ADC Stock
The 24-hour chart illustrates a support level at 55.40, which if violated will result in even more drops to 54.77. On the upside, there is a resistance level at 56.48. A further resistance level may holdings at 56.93. The Relative Strength Index (RSI) on the 14-day chart is 44.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 60.00%. Stochastics %K at 52.79% indicates the stock is a holding.
How much short interest is there in Agree Realty Corp.?
A steep rise in short interest was recorded in Agree Realty Corp. stocks on Mar 15, 2024, growing by 0.95 million shares to a total of 3.96 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.01 million shares. There was a rise of 23.99%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.83% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.14.
The most recent change occurred on September 21, 2023 when Wells Fargo began covering the stock and recommended ‘”an Overweight”‘ rating along with a $70 price target.
