Truist analyst Ki Bin Kim lowered the firm’s price target on Agree Realty (ADC) to $82 from $84 but keeps a Buy rating on the shares after its Q3 results. Management’s FY25 investment volume target continues to creep higher, including development activity, and yields have been steady, the analyst tells investors in a research note. Agree Realty also maintains a low-levered balance sheet with ample liquidity, and is differentiated among triple-net REITs by its high proportion of investment grade tenants, the firm added.
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