BMO Capital analyst Eric Borden maintained a Buy rating on Agree Realty today and set a price target of $80.00.
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Eric Borden has given his Buy rating due to a combination of factors tied to Agree Realty’s solid operating performance and balance sheet strength. The company exceeded expectations on 4Q25 AFFO per share, introduced full‑year guidance ahead of consensus, and increased its projected 2026 investment activity while simultaneously lowering general and administrative costs as a share of adjusted revenue.
He also highlights improved tenant quality, with a higher proportion of investment‑grade tenants and reduced concentration among the top ten tenants, alongside modestly lower leverage and a growing monthly dividend. Although recent investment volume has slowed and acquisition cap rates have compressed, the spread over the firm’s cost of capital remains healthy, and sizable unsettled equity plus low leverage provide financial flexibility to support accelerated growth into 2026.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADC in relation to earlier this year.