Option for an exclusive worldwide license for potential first-in class B7H3/PTK7 topo-I-payload bispecific antibody drug conjugate (BsADC) programB7H3/PTK7 co-expression found in multiple solid tumor types, including double-digit percent prevalence in lung, colorectal, and head and neck cancersRational combo opportunities with IDEAYA's DNA Damage Repair (DDR) pipeline, including IDE161 (PARG)Targeting development candidate nomination in H2 2024SOUTH SAN FRANCISCO, Calif. and BEIJING, China, July 31, 2024 /P ...

Lemon_tm High-yield dividend stocks have been rallying recently on expectations that the Federal Reserve is likely going to cut interest rates in September. For example, the REIT sector (VNQ) is up by over 8.5% since July 1st. The Global X Super Dividend U.S. ETF (DIV) is up by over 6% during that span, as is the Schwab U.S. Dividend Equity ETF (SCHD), and the utility sector (XLU) is up by over 5.6%. Data by YCharts However, the market may be getting a bit ahead of itself right now, as I do not think in ...

LAUSANNE, Switzerland, July 30, 2024 (GLOBE NEWSWIRE) -- ADC Therapeutics SA (NYSE: ADCT), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), today announced that it will host a conference call and live webcast on Tuesday, August 6, 2024, at 8:30 a.m. EDT to report financial results for the second quarter 2024 and provide operational updates. To access the conference call, please register here. Registrants will receive the dial-in number and unique PIN. It is recom ...

Highlights Highly Occupied Portfolio and Sector Leading Investment Grade Tenant Base ROYAL OAK, Mich., July 29, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that S&P Global Ratings has upgraded the Company's issuer rating to BBB+ from BBB with a stable outlook. According to S&P's press release, the BBB+ issuer rating reflects the Company's sound operating performance, supported by a highly occupied portfolio with minimal near-term lease maturities and a sector le ...

RmcarvalhoReal estate has been the top performing sector over the past month, rising by 7.5% while Information Technology (-3.5%) and Communication Services (-7.1%) have become the laggards. Several of the largest REITs, including Prologis (PLD), American Tower (AMT), and VICI Properties (VICI), have seen double-digit gains. Like other cyclical sectors, real estate is poised to benefit from the anticipated cycle of interest rate cuts, and as treasury and money market rates fall, I expect further interes ...

Core Viewpoint - Agree Realty Corporation (ADC) is considered one of the highest quality and safest REITs, offering a reliable dividend yield of 4.3% and locked-in rent growth of approximately 2% per year, with potential upside as interest rates decline [3][5][18] Company Overview - ADC has a market capitalization of $6.8 billion and a share price of $67.33, with a property count of 2,202 [10] - The company maintains a net debt to EBITDA ratio of 4.9x, indicating a strong balance sheet [10] Business Model and Tenant Quality - ADC focuses on larger properties leased to high-quality tenants, with nearly 70% of rent coming from investment-grade tenants, minimizing collection risk [7] - Approximately 11% of ADC's revenue comes from ground leases, which are generally safer than traditional leases, further reducing tenant default risk [7][9] Revenue Predictability - ADC boasts a near full occupancy rate of 99.7%, with less than 10% of leases expiring over the next three years, contributing to predictable rent revenue [9] Growth and Valuation - Consensus estimates project FFO per share growth of around 4% per year until 2026, driven by rent escalators and new acquisitions [11] - The stock currently trades at 17x FFO, below its 10-year average of 18.5x, with an FFO yield of 5.8%, which is 150 basis points above long-term treasury yields [14] Interest Rate Sensitivity - ADC is expected to be sensitive to interest rate changes, with a potential price target of $77 per share if long-term yields decline to 3.75%, indicating a 13% upside potential [16]

Adam Gault Introduction Saying a stock will outperform the S&P will probably ruffle a few feathers. But I think Agree Realty (NYSE:ADC) can and will likely outperform the S&P over the next 5-10 years, at least in total returns. And for this reason, among others, I remain bullish on the stock. Moreover, with lower interest rates likely coming by the end of the year, ADC is poised to see further upside in the coming months, making it a must-have for dividend investors seeking strong returns in the foresee ...

Agree Realty's stock price is up 17% in just three months. It is still attractive, but it is quickly becoming a growth-and-income pick.Agree Realty (ADC 1.22%) is a prominent net-lease real estate investment trust (REIT). It has a solid history of dividend increases behind it, but most notable is the fairly rapid rate of dividend growth over the past decade. The roughly 17% rise in its stock price over the past three months is a positive in many ways, but for investors looking at the stock today, it could m ...

Economic Overview - U.S. equity markets showed mixed performance, with the S&P 500 declining by 0.8% and the Small-Cap 600 increasing by 3.6% [3][5] - Benchmark interest rates fell to four-month lows, with the 10-Year Treasury Yield at 4.19% and the 2-Year Treasury Yield at 4.39% [5][6] - The Federal Reserve is expected to begin cutting rates by September, with a 100% probability now priced in for a rate cut [5][6] Real Estate Sector Performance - Real estate equities outperformed, with the Equity REIT Index gaining 0.9% and 10 out of 18 property sectors in positive territory [3][12] - Homebuilders rallied nearly 4% due to solid earnings results and expectations of rate relief, despite disappointing home sales data [3][12] Earnings Season Insights - The earnings season for real estate has shown strong results, with 74% of equity REITs raising their full-year outlook [12][13] - Office REITs reported improved leasing activity, with occupancy rates increasing for the first time in two years [12][15] - Net lease REITs also performed well, with Agree Realty raising its full-year FFO outlook due to record-high occupancy [15] Specific Sector Highlights - The cold storage operator Lineage raised $4.44 billion in an IPO, marking the largest REIT IPO in history [13] - Gaming and Leisure Properties (GLPI) raised its full-year outlook after solid second-quarter results, expecting FFO growth of 1.6% [17] - Digital Realty (DLR) faced a decline of 6% after reporting disappointing results, maintaining its full-year outlook with FFO growth of 1.3% [18] Economic Data Recap - Key economic indicators included a 2.8% annualized GDP growth rate for Q2, a decline in durable goods orders by 6.6%, and a mixed performance in retail sales [7][9] - Existing home sales for June were reported at 3.89 million, below the forecast of 3.99 million [8]

Richard Drury Introduction I often think about stocks that I am confident will continue to perform well over the long-term. Ones whose businesses remain strong and are likely to see solid growth over the next decade or so. Even through uncertain periods in the economy. But some businesses remain resilient during turbulent times, and are likely here to stay. This is because of their recession-resistant business models, strong fundamentals, and exceptional management teams that keep them operating at hig ...