Secondaries announced 5.4.2016

IPOBoutique.Com rates secondary offerings to hit the tape with a ‘BUY’, ‘NEUTRAL’ or ‘AVOID’ rating. Senior Managing Partner Scott Sweet maintains a track record for all secondary’s he’s issued with a ‘BUY’ rating.

Company: Agree Realty
Symbol: ADC
Price: Last trade $41.46
Description: Re-offer range $39.25-$40.50
Trade Date: 5/5
Shares: 2.25 million
Underwriter(s) Raymond James, Jefferies, Wells Fargo Securities
Rating=Subscription Needed

Company: Phillips 66 Partners LP-BLOCK
Symbol: PSXP
Price: Last trade $56.49
Description: Re-offer range $52.40-$54.40
Trade Date: 5/5
Shares: 7.5 million
Underwriter(s) Barclays
Rating=Subscription Needed