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Agree Realty (NYSE:ADC) target price raised to $56.00, reported today by FBR & Co.

Yesterday Agree Realty (NYSE:ADC) traded -0.11% lower at $46.25. The company’s 50-day moving average is $47.83 and its 200-day moving average is $45.26. The last stock close price is up 2.19% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 263,444 shares of the stock were exchanged, up from an average trading volume of 173,451

Agree Realty (NYSE:ADC) had its target price raised to $56.00 by FBR & Co. in a report released 10/12/2016. The new target price indicates a possible upside of 0.21% based on the company's last stock close price.

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Agree Realty (NYSE:ADC)

Agree Realty has a 52 week low of $30.36 and a 52 week high of $51.33 with a P/E ratio of 22.81 The company’s market cap is currently $0.

In addition to FBR & Co. reporting its target price, a total of 6 firms have reported on the stock. The consensus target price is $45.83 with 4 firms rating the stock a strong buy, 2 firms rating the stock a buy, 0 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Agree Realty (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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