Wall Street Sees a 22% Upside to Agree Realty Corporation (ADC)

Core Insights - Agree Realty Corporation (ADC) is identified as a high growth stock with an average price target suggesting a nearly 10% upside, while the highest target indicates a potential upside of 22% [1][2] - Wells Fargo has reiterated a Buy recommendation for ADC with a price target of $83 as of November 25 [1] Financial Update - On November 18, Agree Realty completed an unsecured $350 million term loan with a 5.5-year maturity due in May 2031, which includes an accordion feature allowing for an additional $500 million borrowing [2] - The company has set up $350 million in forward-starting swaps to lock in the SOFR rate, resulting in a fixed interest rate of 4.02% for the new term loan [2] - The total liquidity of Agree Realty is reported at $2.2 billion, with no material debt maturities until 2028, enhancing its financial stability [3] Company Overview - Agree Realty Corporation operates as a real estate investment trust (REIT) focused on acquiring and developing net-leased properties for major retail brands [3]