Professional
Added to YB: 2025-01-08
Pitch date: 2024-12-12
ADC [bullish]
Agree Realty Corporation
+1.87%
current return
Author Info
No bio for this author
Company Info
Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants.
Market Cap
$8.5B
Pitch Price
$70.43
Price Target
82.00 (+14%)
Dividend
4.16%
EV/EBITDA
20.14
P/E
43.09
EV/Sales
17.45
Sector
Retail REITs
Category
growth
Agree Realty Corporation: Initiating Coverage With Outperform Rating and $82 Price Target
ADC: Net lease REIT growing via acquisitions, development & DFP. Strong tenant mix, low leverage (4.9x). 4.7% AFFO CAGR thru '26 vs 3.4% peers. $850M annual acquisitions at 175bps spread. Risks: scale challenge, capital discipline, low 1% escalators. $82 PT, 14.5% total return.