Agree Realty: Evaluating The Risk And Return Of Common Versus Preferred Shares, Hold Both
Agree Realty Corporation has a strong portfolio supported by investment-grade tenants, ensuring high occupancy rates. The company's financial health is highlighted by a low debt-to-EBITDA ratio and a significant percentage of unencumbered assets. The article recommends holding both common and preferred shares of Agree Realty.
- ▪Agree Realty's portfolio features tenants like Walmart and Home Depot, achieving a 99.7% occupancy rate.
- ▪The company's pro forma net debt to EBITDA ratio stands at 3.2x, indicating strong balance sheet health.
- ▪99% of Agree Realty's assets are unencumbered, contributing to a robust asset coverage ratio of 274%.
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