Professional
Added to YB: 2025-01-08
Pitch date: 2024-12-12
ADC [bullish]
Agree Realty Corporation
+8.76%
current return
Author Info
No bio for this author
Company Info
Agree Realty Corporation is a publicly traded real estate investment trust. The Firm is Rethinking Retail through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants.
Market Cap
$9.2B
Pitch Price
$68.46
Price Target
82.00 (+10%)
Dividend
4.32%
EV/EBITDA
19.47
P/E
39.91
EV/Sales
16.94
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.