文章核心观点 - 持有高估值股票虽有资本增值但长期难以维持，建议购买被低估且有望长期稳定跑赢市场的股票，推荐TC Energy和VICI Properties两只股票 [4][5] TC Energy公司情况 公司概况 - 是一家大型能源中游公司，总部位于加拿大卡尔加里，在美国、加拿大和墨西哥拥有网络管道、发电和存储资产，输送约四分之一的北美天然气和五分之一的加拿大西部原油 [6] 财务表现 - 2024年第一季度EBITDA同比增长11%，液体和天然气管道对EBITDA增长贡献显著 [6] 项目进展 - 第一季度约10亿美元项目投入使用，今年预计有价值70亿美元新项目投入使用，其中Coastal GasLink项目预计今年晚些时候投入商业服务 [7] 财务状况 - 拥有稳健资产负债表，标普信用评级为BBB+，平均债务期限17年，92%为固定利率债务，管理层致力于将债务与EBITDA比率降至4.75倍 [8] 股息情况 - 目前股息收益率为7.3%，派息率为82%，已连续23年增加股息，管理层预计中期股息年增长率为3 - 5% [8] 估值情况 - 当前股价38.39美元，市现率为7.45倍，处于3年区间6 - 11倍的低端，与同行相比具有价格竞争力 [9] VICI Properties公司情况 公司概况 - 是美国最大专注于体验式房地产的REIT，物业包括拉斯维加斯大道及其他地区的不可替代资产，在非博彩家庭娱乐目的地的影响力不断扩大 [10] 租赁优势 - 前13大租户的租约长达30 - 55年，远长于净租赁运营商平均10年的租约，75%的租金收入来自标普500成分股租户，81%的租金收入来自主租约 [10] 财务表现 - 2024年第一季度每股AFFO同比增长6.1%，高于同期净租赁同行的低个位数至中个位数增长，管理层预计今年每股AFFO增长4.2%至2.15美元 [10] 项目投资 - 近期增长受非博彩物业支持，包括堪萨斯城的Homefield体育训练中心，还宣布通过合作伙伴物业增长基金向威尼斯人度假村投资至多7亿美元 [10] 财务状况 - 拥有强劲资产负债表，标普信用评级为BBB -，总流动性为35亿美元，净债务与年化第一季度EBITDA比率为5.4倍，处于管理层目标范围内 [10] 股息情况 - 目前股息收益率为5.9%，派息率为66%，5年复合年增长率为7.8% [10] 估值情况 - 当前股价28.30美元，远期市盈率为11.1，低于同行，也低于历史市盈率16.2 [10] 投资建议 - TC Energy和VICI Properties为寻求长期稳定增长和可靠收入流的投资者提供了有吸引力的投资机会，两家公司股息增长强劲、资产负债表稳健、战略扩张明确，是追求优质低价的收益型投资者的理想选择 [13]

文章核心观点 - 公司MediLink Therapeutics与BioNTech SE达成新的战略合作,BioNTech获得MediLink的TMALIN®抗体偶联药物(ADC)平台的独家许可权,用于开发几个新的靶点 [1][2][3] - 根据协议,MediLink将获得2500万美元的预付款,并有机会获得最高达18亿美元的里程碑付款以及未来全球销售的分成 [2] - 这次合作是双方现有合作的扩展,巩固了MediLink和BioNTech之间的战略伙伴关系,为双方在ADC领域的研发合作奠定了新的基础 [3][4] 公司概况 - MediLink Therapeutics是一家临床阶段的生物技术公司,专注于开发具有全球竞争力的联合药物 [5] - 公司开发了自主知识产权的TMALIN®ADC技术平台,可生成同质性高、药物抗体比高的ADC,用于治疗实体瘤 [6] - 公司总部位于中国苏州,在上海和美国波士顿设有研发基地 [5] TMALIN®技术平台 - TMALIN®是一种创新的ADC平台技术,采用双重切割机制,在肿瘤微环境和溶酶体内发挥作用 [6] - TMALIN®具有高亲水性、同质性好、血浆稳定性佳、肿瘤靶向性强等特点,在临床前研究中展现出良好的治疗窗口 [6] - 基于TMALIN®平台的多个ADC产品已进入临床试验阶段 [6]

J. Michael Jones/iStock Editorial via Getty Images I've been buying more of Agree Realty's (NYSE:ADC) common and preferred shares since the start of the year in response to the continued weakness of these securities. The commons are down 9% over the last 1 year with the 4.25% Series A preferreds (NYSE:ADC.PR.A) trading at a material 32% discount to their $25 per share liquidation value. The commons last declared a monthly cash dividend of $0.250 per share, kept unchanged from the prior month and $3 per ...

Realty Income is a great company, but it is a tortoise. You might want to consider Agree Realty and W.P. Carey instead.It would probably be a mistake to simply forget about net-lease giant Realty Income (O -0.25%). It is a well-run company, but it poses some problems for investors when you dig into the story a bit. For those looking for a bit more growth, competitors Agree Realty (ADC 0.53%) and W.P. Carey (WPC -0.96%) might be more attractive.I happily own Realty IncomeThere's nothing inherently wrong with ...

Investing in these REITs could be your ticket to lasting passive income.Investing in real estate is widely considered to be an excellent way to generate passive income. There are many ways to do it, even for those who don't have much money to start. One of the easiest is to invest in a real estate investment trust (REIT). These companies own income-producing real estate and pay a portion of that income to investors via dividends, making them extremely passive real estate investments. REITs are very low-cost ...

1111IESPDJ/E+ via Getty Images I'm a natural saver. I get strong satisfaction and a sense of security from being able to stash away money every month, investing most of it into dividend growth stocks that further my passive income snowball. That makes spending money hard, even painful at times. Intellectually, though, I know that the purpose of my accumulated wealth and passive income is to be wisely stewarded and enjoyed. I wrote a lot more on this subject in my New Year's post, "Investing In The Good ...

sankai Investment thesis Agree Realty Corporation (NYSE:ADC) delivered impressive AFFO per share growth rates in recent years and pays an attractive, growing, and well-covered monthly dividend yielding ~5%. Although I don't expect significant price movements without major shifts in the economic conditions (considering ADC's current P/FFO multiple), I believe that the Company is highly likely to outperform its peers (like Realty Income (O) or NNN REIT (NNN)) on a total return basis in the upcoming years. ...

Investors in Agree Realty Corporation (ADC) need to pay close attention to the stock based on moves in the options market lately. That is because the Jul 19, 2024 $75 Put had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could a ...

If you are looking for reliable dividend stocks, you'll want to examine T. Rowe Price, Scotiabank, and Agree Realty right now.A consistent stream of passive income is likely what you'll be looking for if you are retired. But you'll want to make sure that the dividends you're collecting are going to keep going for decades, which is exactly why you should take a look at T. Rowe Price (TROW 0.43%), Bank of Nova Scotia (BNS 1.00%), and Agree Realty (ADC 0.56%) right now.Annuity-like income at T. Rowe PriceMost ...

MarsBarsMost retirees or those planning to retire have heard of the 4% rule, which is a guideline used to determine how much retirees can withdraw from their savings each year without running out of money over one's non-working retirement years. The rule suggests that retirees can safely withdraw 4% of their retirement portfolio in the first year, and then adjust that amount for inflation in subsequent years. While this may work in a low inflation environment, recent indicators suggest that higher-than- ...