Jefferies Maintains Agree Realty Corporation to Buy with Price Target $56.00

Brokerage firm Jefferies Maintains its rating on Agree Realty Corporation(NYSE:ADC). In a research note issued to the investors, the brokerage major Raises the price-target to $56.00 per share. The shares have been rated Buy. The rating by Jefferies was issued on Jul 14, 2016.

In a different note, Stifel Nicolaus said it Initiates Coverage on Agree Realty Corporation, according to a research note issued on Jul 7, 2016. The shares have been rated ‘Buy’ by the firm. On May 31, 2016, Jefferies said it Maintains its rating on Agree Realty Corporation. In the research note, the firm Raises the price-target to $45.00 per share. The shares have been rated ‘Buy’ by the firm. Jefferies said it Initiates Coverage on Agree Realty Corporation, according to a research note issued on Apr 21, 2016. The shares have been rated ‘Buy’ by the firm.

Agree Realty Corporation (ADC) made into the market gainers list on Mondays trading session with the shares advancing 0.51% or 0.25 points. Due to strong positive momentum, the stock ended at $49.33, which is also near the day’s high of $49.659. The stock began the session at $49.03 and the volume stood at 96,823 shares. The 52-week high of the shares is $50.25 and the 52 week low is $27.74. The company has a current market capitalization of $1,024 M and it has 2,07,62,843 shares in outstanding.

Agree Realty Corporation(ADC) last announced its earnings results on Apr 25, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $20.22M. Analysts had an estimated revenue of $20.15M. Earnings per share were $0.61. Analysts had estimated an EPS of $0.61.

Several Insider Transactions has been reported to the SEC. On Aug 25, 2015, Joey Agree (CEO) purchased 8,400 shares at $28.96 per share price.Also, 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.

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