Is Buying Agree Realty Corporation (ADC) Here a Winning Strategy?

June 13, 2018 - By James Macaulay

Investors sentiment increased to 1.97 in Q1 2018. Its up 0.43, from 1.54 in 2017Q4. It improved, as 9 investors sold Agree Realty Corporation shares while 50 reduced holdings. 39 funds opened positions while 77 raised stakes. 28.74 million shares or 8.63% more from 26.46 million shares in 2017Q4 were reported.
12,254 are owned by Bnp Paribas Arbitrage. Wells Fargo And Com Mn holds 0% or 189,949 shares in its portfolio. Metropolitan Life Insurance Ny accumulated 0% or 10,840 shares. Dalton Greiner Hartman Maher And accumulated 0.06% or 19,004 shares. Miles Capital holds 0.16% or 5,926 shares in its portfolio. Nuveen Asset Management Lc invested 0.08% of its portfolio in Agree Realty Corporation (NYSE:ADC). Sg Americas Lc has 0% invested in Agree Realty Corporation (NYSE:ADC). Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Agree Realty Corporation (NYSE:ADC). Moreover, Advantus Mngmt has 0.36% invested in Agree Realty Corporation (NYSE:ADC). Voya Lc reported 0% in Agree Realty Corporation (NYSE:ADC). 18,102 were reported by American Interest Group. Louisiana State Employees Retirement Sys owns 13,700 shares. 330 were reported by Daiwa Sb Invests. Franklin Resources holds 0% of its portfolio in Agree Realty Corporation (NYSE:ADC) for 124,369 shares. State Teachers Retirement System accumulated 0.01% or 77,845 shares.

Since February 28, 2018, it had 2 insider buys, and 0 sales for $1.06 million activity.

The stock of Agree Realty Corporation (NYSE:ADC) hit a new 52-week high and has $57.65 target or 7.00 % above today’s $53.88 share price. The 7 months bullish chart indicates low risk for the $1.68B company. The 1-year high was reported on Jun, 13 by Barchart.com. If the $57.65 price target is reached, the company will be worth $117.53M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

It closed at $53.88 lastly. It is down 12.87% since June 13, 2017 and is uptrending. It has outperformed by 0.30% the S&P500.

Analysts await Agree Realty Corporation (NYSE:ADC) to report earnings on July, 23. They expect $0.72 earnings per share, up 7.46 % or $0.05 from last year’s $0.67 per share. ADC’s profit will be $22.44M for 18.71 P/E if the $0.72 EPS becomes a reality. After $0.71 actual earnings per share reported by Agree Realty Corporation for the previous quarter, Wall Street now forecasts 1.41 % EPS growth.

Agree Realty Corporation (NYSE:ADC) Ratings Coverage

Among 6 analysts covering Agree Realty Corp (NYSE:ADC), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Agree Realty Corp has $58.0 highest and $51.0 lowest target. $55’s average target is 2.08% above currents $53.88 stock price. Agree Realty Corp had 8 analyst reports since December 15, 2017 according to SRatingsIntel. Robert W. Baird maintained Agree Realty Corporation (NYSE:ADC) on Wednesday, January 3 with “Buy” rating. The company was maintained on Friday, December 15 by Jefferies. The stock of Agree Realty Corporation (NYSE:ADC) has “Buy” rating given on Friday, February 23 by FBR Capital. On Tuesday, December 19 the stock rating was upgraded by Wells Fargo to “Outperform”. The firm has “Buy” rating by FBR Capital given on Wednesday, January 10. FBR Capital maintained it with “Buy” rating and $58.0 target in Wednesday, January 3 report. The company was maintained on Friday, January 19 by Ladenburg. The rating was maintained by SunTrust on Wednesday, January 3 with “Buy”.

Agree Realty Corporation is a real estate investment trust. The company has market cap of $1.68 billion. The firm invests in real estate markets of the United States. It has a 25.68 P/E ratio. It primarily focuses on the ownership, acquisition, development and management of retail properties net leased to industry leading tenants.

Agree Realty Corporation (NYSE:ADC) Institutional Positions Chart

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