Agree Realty Corporation to Issue Monthly Dividend of $0.26 (NYSE:ADC)

Agree Realty Corporation (NYSE:ADC) declared a monthly dividend on Tuesday, January 13th. Investors of record on Friday, January 30th will be paid a dividend of 0.262 per share by the real estate investment trust on Friday, February 13th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, January 30th.

Agree Realty has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 1 years. Agree Realty has a dividend payout ratio of 159.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Agree Realty to earn $4.47 per share next year, which means the company should continue to be able to cover its $3.14 annual dividend with an expected future payout ratio of 70.2%.

Agree Realty Stock Performance

Shares of NYSE ADC opened at $71.36 on Wednesday. The company has a 50 day simple moving average of $72.80 and a two-hundred day simple moving average of $72.69. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 2.22 and a beta of 0.55. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.59. Agree Realty has a 12 month low of $68.98 and a 12 month high of $79.65.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.02. The firm had revenue of $183.22 million during the quarter, compared to analysts’ expectations of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. The firm’s revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, analysts predict that Agree Realty will post 4.27 earnings per share for the current year.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.