Agree Realty Corporation
Ticking Time Bombs or Treasure Chests?
The pandemic couldn’t have come at a less-certain time as far as REITs are concerned. Slate Office REIT has lost 39% in 12 months. American Hotel Income Properties REIT is down 59% year on year. There are hidden risks, too, besides the pandemic. Election years are always frothy, but 2020 takes the cake. In a fractured American political landscape, every possible outcome carries its own set of risks.
Agree Realty Corp (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).
As of May 15, 2019, it owned and operates a portfolio of 703 properties, located in 46 states and containing approximately 12.3 million square feet of gross leasable space.
The Company’s business objective is to invest in and actively managing a diversified portfolio of retail properties net leased to industry tenants.
Its community shopping centers include Capital Plaza, Frankfort; Central Michigan Commons, Mount Pleasant, and West Frankfort Plaza, West Frankfort.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 68.66.
The projected lower bound is: 58.98.
The projected closing price is: 63.82.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 20.0202. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 44.94. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 78 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -105.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 8 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 12 period(s) ago.
Rex Takasugi – TD Profile
AGREE REALTY closed up 0.940 at 63.870. Volume was 46% below average (neutral) and Bollinger Bands were 40% narrower than normal.
Open High Low Close Volume 62.930 63.870 62.170 63.870 143,172
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 65.05 64.70 69.52 Volatility: 44 48 64 Volume: 274,812 270,309 190,316
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
AGREE REALTY is currently 8.1% below its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods.
Our volume indicators reflect very strong flows of volume out of ADC.N (bearish). Our trend forecasting oscillators are currently bearish on ADC.N and have had this outlook for the last 2 periods.