Agree Realty: Unfortunately No Longer A 'Buy' At This Price (Rating Downgrade)
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Agree Realty, a triple-net lease REIT, has been downgraded from 'Buy' to 'Hold' due to its current high trading price, which diminishes its upside potential.
December 01, 2024 | 2:15 pm
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Agree Realty has been downgraded from 'Buy' to 'Hold' due to its current high trading price, which limits its upside potential.
The downgrade from 'Buy' to 'Hold' suggests that the stock is currently overvalued, reducing its attractiveness for new investors. This is based on the Q3'24 results and the current trading price, which is significantly higher than when it was previously recommended as a 'Buy'.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100