Market Overview

UPDATE: Compass Point Initiates Agree Realty Corporation with Buy, $28 PT on Aggressive Asset Strategy

Share:
Related ADC
Wunderlich Securities Raises Price Target On Agree Realty As Stock Keeps Accretively Growing
Agree Realty Reports Record Q4, '14 Acquisition Activity
Agree Realty Sells Ferris Commons, Ups Disposition Guidance (Zacks)

Compass Point initiated coverage on Agree Realty Corporation (NYSE: ADC) with a Buy rating and a price target of $28 a share.

Compass Point noted, "After years of sleepy growth and the sizeable Borders speed bump, management's recent shift to a more aggressive asset management strategy is solving several long running problems for the company. First, the near elimination of Borders from the portfolio and the continuing reduction of Kmart is improving the credit quality of the $1.60 dividend. Further, the recent ramp up in acquisitions on top of a successful long-term development strategy is resulting in a growing company that should result in more investor interest and a greater float in the future."

Agree Realty Corporation closed at $22.97 on Monday.

Latest Ratings for ADC

DateFirmActionFromTo
Mar 2015BairdInitiates Coverage onOutperform
Jan 2015WunderlichMaintainsBuy
May 2014WunderlichUpgradesHoldBuy

View More Analyst Ratings for ADC
View the Latest Analyst Ratings

Posted-In: Compass PointAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (ADC)

Get Benzinga's Newsletters