Agree Realty Corporation (NYSE:ADC) has been downgraded to Sell in a statement by Zacks Investment Research earlier today.
- Updated: September 27, 2016
Boasting a price of $50.26, Agree Realty Corporation (NYSE:ADC) traded -0.12% lower on the day. The last stock close price is up 12.59% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same period. The company has recorded a 50-day moving average of $48.07 and a 200-day moving average of $44.64. 193,874 shares of Agree Realty Corporation exchanged hands, up from an avg. volume of 167,755
Zacks Investment Research has downgraded Agree Realty Corporation (NYSE:ADC) to Sell in a report released on 09/27/2016.
On Thursday July 07, 2016, Stifel Nicolaus released a statement for Agree Realty Corporation (NYSE:ADC) upped the target price from $0.00 to $54.00. At the time, this indicated a possible upside of 0.11%.
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Agree Realty Corporation has one year low of $29.19 and a one year high of $51.33 with a P/E ratio of 24.78 and has a total market value of $0.
A total of 6 equity analysts have released a ratings update on Agree Realty Corporation. Four analysts rating the stock a strong buy, 2 brokerages rating the company a buy, zero brokers rating the stock a hold, zero equity analysts rating the company a underperform, and finally 0 firms rating the company a sell with a 12-month price target of $45.83.
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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