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Investing.com - KeyBanc raised its price target on Agree Realty (NYSE:ADC) to $82.00 from $80.00 on Friday, while maintaining an Overweight rating on the real estate investment trust. The stock, currently trading at $75.14, offers a 4.19% dividend yield and has maintained dividend payments for 32 consecutive years.
The firm cited Agree Realty’s accelerating investment output through acquisitions and development starts as a key factor behind the price target increase, noting that the company continues to execute despite macroeconomic uncertainty. This execution is reflected in the company’s strong 13.16% revenue growth over the last twelve months.
KeyBanc highlighted that Agree Realty’s earnings exceeded expectations and suggested that despite the company’s increased guidance, it may still prove to be conservative in its outlook. According to InvestingPro, the company maintains strong financial health with liquid assets exceeding short-term obligations and a solid current ratio of 1.12.
The research firm pointed to Agree Realty’s pre-funding of external growth as a driver for future investment output and earnings growth in 2026.
KeyBanc views the stock’s 29% 2026 AFFO multiple premium as warranted in the current environment, supporting its Overweight rating on the shares.
In other recent news, Agree Realty Corporation has reported significant developments that are capturing investor attention. The company posted a strong third-quarter performance for 2025, with adjusted funds from operations (AFFO) of $1.10 per share. This figure represents a 7.0% year-over-year growth, surpassing Stifel’s estimate by $0.01 and the Street consensus by $0.02. In light of these results, Stifel raised its price target on Agree Realty to $81.00 while maintaining a Buy rating. Similarly, RBC Capital increased its price target to $80.00, citing the company’s highest investment volumes since the third quarter of 2020 and a guidance increase. Earlier in the year, Agree Realty also raised its full-year AFFO guidance to between $4.29 and $4.32 per share during the second quarter earnings call. This adjustment reflects the company’s confidence in its growth strategy and robust financial performance. These recent developments underscore Agree Realty’s strategic initiatives and optimistic outlook for the future.
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