ADC Stock Summary and Trading Ideas (Agree Realty | NYSE:ADC)

Agree Realty Corporation operates as a fully integrated real estate investment trust mainly focused on the ownership, acquisition, development and management of retail properties net leased to industry-leading tenants. The Company is mainly in the business of acquiring, developing and managing retail real estate. Some of its properties in the portfolio include Walmart, 7-Eleven, Wawa, Gerber Collision and others.

Agree Realty trades on the NYSE stock market under the symbol ADC.

As of May 13, 2024, ADC stock price declined to $60.04 with 240,872 million shares trading.

ADC has a beta of 0.66, meaning it tends to be less sensitive to market movements. ADC has a correlation of 0.24 to the broad based SPY ETF.

ADC has a market cap of $6.04 billion. This is considered a Mid Cap stock.

Last quarter Agree Realty reported $149 million in Revenue and $1.03 earnings per share. This beat revenue expectation by $2 million and exceeded earnings estimates by $.02.

In the last 3 years, ADC stock traded as high as $80.44 and as low as $52.69.

The top ETF exchange traded funds that ADC belongs to (by Net Assets): VNQ, IJH, VTI, VB, VBR.

ADC stock has underperformed the market in the last year with a return of -6.5%, while SPY returned +27.8%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in ADC shares. However, ADC has outperformed the market in the last 3 month and 2 week periods, returning +5.7% and +4.8%, while SPY returned +4.2% and +2.5%, respectively. This indicates ADC has been having a stronger performance recently.

ADC support price is $59.44 and resistance is $60.86 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ADC stock will trade within this expected range on the day.