On Jan 08, major Wall Street analysts update their ratings for $Agree Realty Corp (ADC.US)$, with price targets ranging from $75 to $81.
Morgan Stanley analyst Ronald Kamdem maintains with a buy rating, and maintains the target price at $75.
Evercore analyst James Kammert maintains with a buy rating, and maintains the target price at $80.
Stifel analyst Simon Yarmak maintains with a buy rating, and adjusts the target price from $81.5 to $81.
JMP Securities analyst Mitchell Germain downgrades to a hold rating.
Furthermore, according to the comprehensive report, the opinions of $Agree Realty Corp (ADC.US)$'s main analysts recently are as follows:
Confidence in Agree Realty's growth potential has increased, largely due to their ability to drive AFFO growth through accelerating acquisitions that are seen as reasonably valued. The anticipation of acquisitions worth $1.2 billion in 2025 is expected, supported by a clearer view on funding through outstanding forward equity, which is projected to fuel AFFO growth of 5% in 2025 and 5.6% in 2026.
The firm maintains an equal-weight view on REITs into 2025, acknowledging a mixed macroeconomic environment. Stock valuations are considered fair on absolute terms; however, they appear expensive when compared to fixed income alternatives. Analysts also suggest that REIT fundamentals could be sluggish with a potential change expected around fiscal 2026.
Agree Realty's disclosure of a 2024 acquisition volume of $867M was noted to surpass the previously expected $850 million for FY24, as addressed in their Q3 earnings call.
The 2024 acquisition volumes for Agree Realty slightly exceeded guidance and estimates, with cap rates aligning as expected. For 2025, the investment volume guidance is roughly 10% under previous estimates. Typically, Agree Realty begins the year with conservative figures but tends to increase these projections as the year progresses. Additionally, rising capital costs have led to a decrease in the forecast for FY26 FFO.
The net lease group experienced a weaker performance, particularly in Q4, and FY24 sector performance lagged behind the broader REIT index, recording a 2% gain for the net lease sector compared to 4.9% for the REITs overall.
Here are the latest investment ratings and price targets for $Agree Realty Corp (ADC.US)$ from 4 analysts:
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美東時間1月8日，多家華爾街大行更新了$美國同意房地產公司 (ADC.US)$的評級，目標價介於75美元至81美元。
摩根士丹利分析師Ronald Kamdem維持買入評級，維持目標價75美元。
Evercore分析師James Kammert維持買入評級，維持目標價80美元。
斯迪富分析師Simon Yarmak維持買入評級，並將目標價從81.5美元下調至81美元。
JMP Securities分析師Mitchell Germain下調至持有評級。
此外，綜合報道，$美國同意房地產公司 (ADC.US)$近期主要分析師觀點如下：
對Agree Realty增長潛力的信心增強，主要是因爲他們能夠通過加速收購來推動AFFO增長，這些收購被認爲是合理定價的。預計2025年將完成價值12億的收購，得益於通過未償還的前瞻性股權提供更清晰的資金視角，這預計將推動2025年和2026年的AFFO增長分別爲5%和5.6%。
該公司對2025年的信託持平等權重的看法，承認宏觀經濟環境複雜多變。根據絕對標準，股票估值被視爲公允，但與固收替代品相比則顯得昂貴。分析師還指出，REIT的基本面可能會疲軟，預計在2026財政年度會有潛在變化。
Agree Realty披露的2024年收購成交量爲86700萬，超過了之前預計的2024財政年度85000萬，如其第三季度業績發佈會上所述。
Agree Realty的2024年收購成交量略超出指導和預估，資本化率與預期一致。對於2025年，投資成交量指導大約低於之前的估算10%。通常，Agree Realty年初時給出的數字比較保守，但隨着年份的推進，這些預測往往會增加。此外，資本成本上升導致對2026財政年度FFO的預測下降。
淨租賃組的表現較弱，特別是在第四季度，而2024財政年度該板塊的表現落後於更廣泛的信託指數，淨租賃板塊記錄的增幅爲2%，相比之下，整體信託爲4.9%。
以下爲今日4位分析師對$美國同意房地產公司 (ADC.US)$的最新投資評級及目標價：
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