Back to top

Analyst Blog

Zacks Equity Research

Agree Realty Acquires Assets

ADC KIM

 ZacksTrade Now

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Agree Realty Corporation (ADC - Snapshot Report)), a real estate investment trust (REIT), has recently acquired three premium assets - a Family Dollar store in Spartanburg, South Carolina; a USAA Financial Services Center in Jacksonville, North Carolina; and an AutoZone store in Springfield, Illinois. The properties were acquired at a combined purchase price of approximately $5.3 million.

Recently, Agree Realty also closed on the sale of two shopping centers — the Plymouth Commons and the Shawano Plaza shopping centers, both located in the tertiary markets in central Wisconsin.

Agree Realty has continued to reposition its portfolio by divesting assets that have limited opportunities and redeployment of capital. Instead, the company focus is on acquisition and development of properties which have the potential to generate higher returns.

Through this strategic initiative, Agree Realty expects to enhance its portfolio quality, which in turn could be accretive to earnings going forward.  All three current acquisitions feature single-tenant industry leading retailers, which further enhance the quality of the company’s portfolio.

Agree Realty is primarily engaged in the ownership, development, acquisition, and management of retail properties, which are primarily leased to national and regional retail companies in the United States. Currently, the company owns a portfolio of 96 properties, located in 25 states containing approximately 3.1 million square feet of gross leasable space.

Agree Realty currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We also have a long-term Neutral recommendation on the stock. One of its competitors, Kimco Realty Corporation (KIM) holds a Zacks #2 Rank, which translates into a short term Buy rating.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
RAMBUS INC RMBS 12.49 +5.94%
DIXIE GROUP DXYN 15.43 +5.11%
BOFL HOLDING BOFI 84.90 +4.48%
DAIMLER AG DDAIF 93.05 +2.98%
CELL THERAPE CTIC 3.08 +2.90%