Mizuho Securities analyst Haendel St. Juste has maintained their neutral stance on ADC stock, giving a Hold rating yesterday.
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Haendel St. Juste has given his Hold rating due to a combination of factors related to Agree Realty’s financial guidance and market conditions. Although the company’s FY25 AFFO per share guidance aligns with consensus estimates, it appears conservative considering the company’s strong liquidity and capital deployment capabilities. The outlined growth rate is slightly below the average for REITs, which raises questions about the potential for more robust performance.
Furthermore, while the company has a significant amount of capital available for future acquisitions without needing additional equity, there are concerns about external factors such as tariffs that may impact tenant credit, particularly in categories heavily reliant on steel and aluminum. Despite these challenges, the company remains well-positioned among its peers, with a strong investment-grade tenant base and limited exposure to higher-risk tenants. Overall, the Hold rating reflects a balanced view of the company’s current strengths and potential risks.
Based on the recent corporate insider activity of 38 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.