Insiders 'Agree': This REIT Is A Great Value At These Levels
Portfolio Pulse from Ethan Roberts
Three insiders at Agree Realty Corp. (NYSE:ADC) have recently bought large amounts of company stock, indicating their belief that the stock is undervalued. The purchases were made after a price drop following the company's Q2 2023 earnings announcement. Agree Realty's Q2 revenue was 23.9% higher than the same period in 2022, but missed estimates. The company's year-to-date return is negative 8.79%. Analysts from Stifel and RBC Capital Markets have maintained a positive outlook on Agree Realty, adjusting their price targets slightly.
August 15, 2023 | 6:20 pm
News sentiment analysis
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NEUTRAL IMPACT
Best Buy is one of the largest tenants of Agree Realty Corp.
Best Buy's mention as a tenant of Agree Realty Corp. is passive and does not directly impact its stock.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Dollar General is one of the largest tenants of Agree Realty Corp.
Dollar General's mention as a tenant of Agree Realty Corp. is passive and does not directly impact its stock.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Kroger is one of the largest tenants of Agree Realty Corp.
Kroger's mention as a tenant of Agree Realty Corp. is passive and does not directly impact its stock.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Walmart is one of the largest tenants of Agree Realty Corp.
Walmart's mention as a tenant of Agree Realty Corp. is passive and does not directly impact its stock.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
POSITIVE IMPACT
Insiders at Agree Realty Corp. have bought large amounts of stock, indicating their belief in its undervaluation. The company's Q2 revenue was up 23.9% YoY but missed estimates.
The insider purchases indicate a strong belief in the company's value, which could lead to increased investor confidence and a potential rise in stock price. However, the missed revenue estimates may temper this effect.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100