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Agree Realty Corporation (NYSE:ADC) stock soared to a 52-week high, reaching $79.17, as the company continues to demonstrate strong performance in the real estate sector. According to InvestingPro data, the company boasts an impressive 32-year track record of maintaining dividend payments, with a current dividend yield of 3.94%. This new peak reflects a significant uptrend in the stock’s value, marking a substantial 47.55% total return over the past year. Investors have shown increased confidence in Agree Realty’s strategic growth initiatives and portfolio expansion, which have contributed to the stock’s impressive climb. The company maintains a "GREAT" financial health score of 3.15 out of 5 on InvestingPro, with particularly strong price momentum and cash flow metrics. The company’s ability to achieve this milestone amidst fluctuating market conditions underscores its resilience and the positive sentiment surrounding its financial health and future prospects. With a robust gross profit margin of 87.87% and revenue growth of 14.81% in the last twelve months, ADC continues to demonstrate solid operational performance. Discover more detailed insights and 8 additional ProTips in the comprehensive ADC Research Report, available exclusively on InvestingPro.
In other recent news, Agree Realty Corporation disclosed its weighted-average number of common shares outstanding for the first quarter ended March 31, 2025. The company reported 107,048,557 shares for the calculation of basic earnings per share, with dilutive securities increasing this number to 107,547,193 for diluted earnings per share. Additionally, Operating Partnership Units contributed to a combined total of 107,894,812 shares for the diluted earnings per share calculation. Barclays (LON:BARC) recently upgraded Agree Realty’s stock rating from Underweight to Equal Weight and increased the price target from $64.00 to $65.00. Analyst Richard Hightower cited the company’s appealing valuation and superior tenant credit quality as factors for the upgrade. Meanwhile, Stifel maintained its Buy rating on Agree Realty with a price target of $81.00, following meetings with the company’s management. Stifel analysts highlighted Agree Realty’s strong financial health and anticipated growth rate of over 4% in 2025. The company benefits from a portfolio with nearly 70% of rents sourced from investment-grade tenants, signaling a stable income stream.
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