A statement released earlier today by FBR & Co about Agree Realty Corporation (NYSE:ADC) bumps the target price to $56.00
- Updated: October 15, 2016
Agree Realty Corporation (NYSE:ADC) had its stock price target increased to $56.00 by FBR & Co in an issued report announced Wednesday October 12, 2016. The upped price target implies a potential upside of 0.22% from the company's last closing price.
Yesterday Agree Realty Corporation (NYSE:ADC) traded -0.59% lower at $45.73. The company’s 50-day moving average is $47.73 and its 200-day moving average is $45.34. The last closing price is up 3.26% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 288,127 shares of the stock traded hands, up from an average trading volume of 177,820
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Agree Realty Corporation has a 52 week low of $30.78 and a 52 week high of $51.33 with a P/E ratio of 23.09 The company’s market cap is currently $0.
In addition to FBR & Co reporting its stock price target, a total of 6 brokers have issued a report on the company. The average stock price target is $45.83 with 4 brokers rating the stock a strong buy, 2 brokers rating the stock a buy, 0 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About Agree Realty Corporation (NYSE:ADC)
Agree Realty Corporation (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership), of which it is the sole general partner and in which Agree Realty holds an approximately 98.3% interest. The Company's portfolio consists of over 280 properties located in over 40 states and totaling approximately 5.2 million square feet of gross leasable area. Its portfolio includes over 275 net lease properties and over three community shopping centers. The Company's primary tenant is Walgreens Boot Alliance, Inc. (Walgreens), which operates a chain of drugstores in the United States. The Company's business objective is to generate consistent shareholder returns by investing in and actively managing a diversified portfolio of retail properties net leased to industry tenants.
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