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增長潛力的信心增加，這在很大程度上得益於他們通過加速收購來推動AFFO增長，這些收購被視爲合理估值。預計2025年將進行價值12億的收購，這得到了對融資的更清晰預期的支持，預計將推動2025年和2026年AFFO增長分別達到5%和5.6%。
該公司對2025年的信託持平等權重的觀點，承認宏觀經濟環境複雜。股票估值在絕對方面被認爲是公平的；然而，與固收替代品相比，它們顯得昂貴。分析師還表示，信託的基本面可能會疲軟，預計在2026財年會發生潛在變化。
Agree Realty披露的2024年收購成交量爲86700萬，被認爲超過了之前預期的2024財年的85000萬，如他們在第三季度業績發佈會上所提到的。
Agree Realty的2024年收購成交量略微超過了指引和估算，資本化率也與預期一致。對於2025年，投資成交量的指引大約低於之前的估算10%。通常情況下，Agree Realty年初的數字相對保守，但隨着年紀的進展，這些預測往往會增加。此外，資本成本的上升導致對2026財年FFO的預測下降。
淨租賃組的表現較弱，特別是在第四季度，2024財年該板塊的表現落後於更廣泛的信託指數，淨租賃板塊增長2%，而整體信託增長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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