Agree Realty Corporation (NYSE:ADC) has been upgraded to Hold in a statement by Zacks Investment Research earlier today.
- Updated: October 4, 2016
Having a price of $47.35, Agree Realty Corporation (NYSE:ADC) traded -2.15% lower on the day. With the last close up 5.15% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same period. Agree Realty Corporation has recorded a 50-day average of $48.14 and a two hundred day average of $45.03. Volume of trade was up over the average, with 203,875 shares of ADC changing hands over the typical 170,600
Zacks Investment Research has upgraded Agree Realty Corporation (NYSE:ADC) to Hold in a statement released on 10/04/2016.
With a total market value of $0, Agree Realty Corporation has price-earnings ratio of 23.35 with a 52 week low of $30.10 and a 52 week high of $51.33 .
In addition to Zacks Investment Research reporting its stock price target, a total of 6 brokers have issued a research note 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.
Brief Synopsis On 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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