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 including adjustments made to the ADC model to account for recent transaction and capital-raising activities. The 2025 acquisitions estimate has been increased to $1.2 billion from the previous $1.0 billion. However, this is offset by an expectation that ADC will settle 10 million shares in 2025 compared to the earlier assumption of 8 million shares.
The analyst maintains the FY24 estimated AFFO per share at $4.12 but has lowered the FY25 estimation to $4.30 from $4.34. The price target of $74 remains unchanged, being based on the application of the FY24 AFFO multiple to projected 2025 AFFO. These adjustments and expectations underpin the neutral stance with a Hold rating on Agree Realty’s stock.
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.