Agree Realty Corporation (ADC) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 54 from a previous price target of $45 . Wunderlich advised their investors in a research report released on Jul 27, 2016.
Many Wall Street Analysts have commented on Agree Realty Corporation. Stifel Initiated Agree Realty Corporation on Jul 7, 2016 to “Buy”, Price Target of the shares are set at $54.Company shares were Reiterated by Wunderlich on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $44 .
On the company’s financial health, Agree Realty Corporation reported $0.62 EPS for the quarter, based on the information available during the earnings call on Jul 25, 2016. Analyst had a consensus estimate of $0.62. The company had revenue of $21.84 million for the quarter, compared to analysts expectations of $21.44 million. The company’s revenue was up 26.9% compared to the same quarter last year.
Agree Realty Corporation opened for trading at $49.35 and hit $50.42 on the upside on Thursday, eventually ending the session at $50.24, with a gain of 1.68% or 0.83 points. The heightened volatility saw the trading volume jump to 2,20,262 shares. Company has a market cap of $1,043 M.
In a different news, on Aug 25, 2015, Joey Agree (CEO) purchased 8,400 shares at $28.96 per share price. According to the SEC, on Aug 24, 2015, William S. Rubenfaer (director) purchased 4,000 shares at $28.86 per share price. On Aug 24, 2015, Richard Agree (Executive Chairman) purchased 15,000 shares at $28.78 per share price, according to the Form-4 filing with the securities and exchange commission.
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 held a 98.06% interest as of December 31 2014. As of March 9 2015 the Company owned and operated a portfolio of 224 properties located in 38 states and it consists of approximately 4.6 million square feet of gross leasable space. Its portfolio includes 203 net lease properties which contributed approximately 91.6% of annualized base rent and six community shopping centers which generated the remaining 8.4% of annualized base rent. The Company’s primary tenant is Walgreens Boot Alliance Inc. which operates a chain of drugstores in the United States.