B+
Bull case
25%
Probability
Target price
$75.00
Analysis reference price unavailable
Analysis 2026-10-23 · RankAlpha Sentiment Codex
ADC
Agree RealtyCNYSE / Equity Real Estate Investment Trusts (REITs)
Last Price
Quote time unavailable
Current thesis
Q3 FFO of $1.15 per share exceeded the $1.14 Zacks consensus by $0.01; AFFO was also $1.15 per share, though this is not a separate consensus beat. The company reported 99.8% leased occupancy, approximately $2.0 billion of liquidity and 3.9× pro forma net debt to recurring EBITDA, supporting selective growth.
Posture
Mixed
Lead driver
Value
What changed
Value remains the lead driver in the composite, 7D delta -0.3.
What can break
Development deliveries, tenant performance and lease renewals could fall short of expectations, notwithstanding 99.8% leased occupancy at September 30. [#SEC-8K-2026-10-20]
Momentum
37
Value
58
Sentiment
55
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $66.00 · Bull $75.00 · Bear $58.00Analysis 2026-10-23; returns require an exact persisted reference.
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-10-28 • Vendor: Data Vendor v1
Scores
As of 2026-10-28 • Model: HYBRID_IC_RP
AI Memo
As of 2026-10-23 • Model: RankAlpha Sentiment Codex
Investment thesisAs of 2026-10-28
Investment thesis
As of 2026-10-28
Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-10-28. Definitions
Supporting evidence
What
Grade C · Mixed
Confidence Medium · Net Neutral
Target $77.87
Why
Momentum37 · Δ7d +4.2
Value58 · Δ7d -0.3
Sentiment55 · Δ7d -23.6
So what
Balanced signals (Net Neutral). Wait for confirmation before sizing up.
Confirming evidence
- • Value remains the lead driver in the composite, 7D delta -0.3.
Contradictions & invalidation
- • Development deliveries, tenant performance and lease renewals could fall short of expectations, notwithstanding 99.8% leased occupancy at September 30. [#SEC-8K-2026-10-20]
- • Higher planned dispositions require successful capital recycling; acquisition yields and financing costs determine whether redeployment is accretive. [#SEC-8K-2026-10-20]
- • The $0.01 FFO beat and modest AFFO guidance increase do not erase the reduced investment outlook.
Catalyst clock
2026-12-31
2026 AFFO guidance holds despite slower deployment
Lead driver: Value · See fundamentals
Momentum
37
8% active weight
Current posture
7d trendSoftening
Δ7d
+4.2
Δ21d
+10.7
Value
58
47% active weight
Current posture
7d trendFlat
Δ7d
-0.3
Δ21d
-0.3
Sentiment
55
45% active weight
Current posture
7d trendSoftening
Δ7d
-23.6
Δ21d
-35.3
Why this grade
Composite grade C. Momentum 36.8 / Value 57.9 / Sentiment 55.1
Scenario snapshot
Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-10-23. Scenario method
Most likely
B
Base case
45%
Probability
Target price
$66.00
Analysis reference price unavailable
Analysis 2026-10-23 · RankAlpha Sentiment Codex
B-
Bear case
30%
Probability
Target price
$58.00
Analysis reference price unavailable
Analysis 2026-10-23 · RankAlpha Sentiment Codex
Fundamentals (TTM)As of 2026-10-28
Fundamentals (TTM)
As of 2026-10-28
Market Cap
$8.62B
Beta
0.54
Shares Out
130.1M
P/E (TTM)
42.0
P/S (TTM)
11.99
P/FCF (TTM) · Derived
48.78
Rev YoY
+16.8%
EPS YoY
+2.2%
Gross Margin
+54.3%
Op Margin
+48.4%
Net Debt
$3.36B
Current Ratio
0.16
As of 2026-10-28 • Updated nightlySource: Internal modelMethods & Data