Analyst Ki Bin Kim of Truist Financial maintained a Buy rating on Agree Realty (ADC – Research Report), retaining the price target of $77.00.
Ki Bin Kim has given his Buy rating due to a combination of factors that highlight Agree Realty’s strong financial position and growth potential. The company has slightly increased its 2025 AFFO per share guidance, indicating a 3.6% year-over-year growth, which aligns well with market expectations. Additionally, Agree Realty has raised its acquisition guidance to $1.4 billion, suggesting a strategic expansion that benefits from favorable acquisition spreads.
Moreover, Agree Realty’s financial stability is underscored by the absence of significant debt maturities until 2028 and a substantial amount of hedged capital. This positions the company advantageously in the market. Despite some concerns about the stock’s relative value within the triple net space, the combination of downside protection and improved acquisition spreads is expected to drive FFO per share growth, reinforcing the Buy rating.
Bin Kim covers the Real Estate sector, focusing on stocks such as Public Storage, Eastgroup Properties, and Federal Realty. According to TipRanks, Bin Kim has an average return of 8.3% and a 59.38% success rate on recommended stocks.
In another report released on April 15, Morgan Stanley also maintained a Buy rating on the stock with a $75.00 price target.