Is Agree Realty Corp. overvalued or undervalued?

As of 24 April 2025, the valuation grade for Agree Realty Corp. has moved from fair to attractive, indicating a positive shift in its perceived value. The company is currently considered undervalued. Key ratios include a P/E ratio of 41, an EV to EBITDA of 15.54, and a dividend yield of 3.62%.
In comparison to peers, Lamar Advertising Co. has a P/E of 29.21 and is deemed very expensive, while AGNC Investment Corp. is very attractive with a P/E of 19.95. This suggests that Agree Realty Corp. may offer better value relative to its peers, despite its high P/E ratio. Additionally, the company's stock has outperformed the S&P 500 over the past year, with a return of 23.25% compared to the index's 10.26%, reinforcing the attractiveness of its current valuation.