2024-02-09 08:30:07 ET
Summary
- Agree Realty Corporation investors have experienced a significant battering, but a mean-reversion opportunity could emerge.
- ADC bottomed out in October 2023, but its recovery has hit a snag, as the Fed isn't expected to cut rates.
- Despite a challenging investment environment, ADC's AFFO growth profile in 2024 is promising in driving a valuation re-rating.
- Patience is critical as the market assesses the timing of the Fed's rate cuts.
- I explain the critical levels for investors to consider as I maintain my bullish bias.
Agree Realty Corporation ( ADC ) investors have had a year to forget, as ADC posted a 1Y total return of -17.4%, a significant deviation from its 10Y total return CAGR of 12.19%. As a result, ADC bulls could point to the potential for a significant mean-reversion opportunity for the leading net lease retail REIT as we emerge from the Fed's hiking regime....
Read the full article on Seeking Alpha
For further details see:
Agree Realty: Patience Is Key To Unlocking Its Recovery