JMP Securities downgraded Agree Realty (ADC) to Market Perform from Outperform without a price target The firm believes the shares are fairly valued. Agree maintains one of the healthiest balance sheets in the sector, but it trades at one of the highest multiples in the net-lease real estate investment trust sector, which fairly captures its portfolio quality, growth prospects, and “best-in-class” balance sheet, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADC: