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Investing.com - Jefferies raised its price target on Agree Realty (NYSE:ADC) to $90.00 from $89.00 on Thursday, while maintaining a Buy rating on the real estate investment trust. The stock, currently trading at $72.27 with a 4.25% dividend yield, has demonstrated strong performance with a 13.16% revenue growth over the last twelve months.
The price target adjustment follows a post-second quarter earnings webinar that Jefferies hosted with Agree Realty’s CEO and CFO, where key discussion topics included the company’s growth strategy, retailer expansion appetite, and competitive dynamics.
According to Jefferies, Agree Realty expects the premium on its AFFO multiple, currently at 17x, to expand due to its sector-leading balance sheet, growth discipline, and superior cost of capital.
The firm noted that Agree Realty recently earned an A- credit rating from Fitch, making it one of only 13 publicly listed U.S. REITs with an A- rating or better.
Jefferies cited these factors as the basis for raising both its estimates and price target on the REIT to $90.00.
In other recent news, Agree Realty Corporation reported its second-quarter 2025 financial results, showing a slight miss on earnings per share (EPS) but a revenue figure that exceeded forecasts. The company posted an EPS of $0.43, which was below the expected $0.45, while revenue reached $175.53 million, surpassing the anticipated $173.17 million. In related developments, UBS raised its price target for Agree Realty to $82.00 from $80.00, maintaining a Buy rating. This adjustment comes after Agree Realty increased its 2025 Adjusted Funds From Operations (AFFO) guidance midpoint by $0.02 and its acquisition midpoint by $100 million. These recent developments highlight the company’s strategic adjustments and analyst confidence in its future performance.
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