In a report released today, Eric Borden from BMO Capital maintained a Buy rating on Agree Realty, with a price target of $85.00.
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Eric Borden has given his Buy rating due to a combination of factors that highlight Agree Realty’s strong financial performance and strategic positioning. The company’s adjusted funds from operations per share (AFFOps) for the second quarter of 2025 met expectations, supported by robust investment volumes and an increase in occupancy rates. Additionally, Agree Realty raised its full-year 2025 AFFOps guidance above consensus estimates, suggesting a significant acceleration in the second half of the year and a year-over-year growth rate that surpasses its peers.
Despite some challenges, such as a slight decrease in acquisition cap rates and an increase in the cost of capital, Agree Realty maintains a healthy investment spread. The company’s pre-funded equity of $1.3 billion helps mitigate market volatility, ensuring a stable weighted average cost of capital. Furthermore, improvements in leased occupancy and a reduction in top tenant exposure contribute to a positive outlook, reinforcing Eric Borden’s Buy rating for Agree Realty.
According to TipRanks, Borden is a 3-star analyst with an average return of 3.5% and a 64.00% success rate.
In another report released today, Truist Financial also maintained a Buy rating on the stock with a $82.00 price target.