ADC Q2 2024 Update & NAV Model

Author

Michael VanLoon
July 24, 2024

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Summary

  • ADC reported solid quarterly results with no negative surprises.

  • Raised guidance on AFFO per share, acquisitions, and dispositions, indicating confidence in growth.

  • Wall Street estimates for NAV may be significantly off, potentially enhancing ADC's ability to achieve a large premium which has been used to fuel AFFO per share growth.

  • I'm demonstrating the model for using NAV figures to calculate cap rates. We can use any NAV figure and find the implied cap rate.

  • No change to targets currently. May adjust with sector peers soon.

The Full Article

Colorado Wealth Management Fund hosts his research on The REIT Forum.

In our contest to determine where we would host the website, Beehiiv lost.

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