Agree Realty Corporation (ADC) to Issue Monthly Dividend of $0.26 on February 13th

Agree Realty Corporation (NYSE:ADC) declared a monthly dividend on Tuesday, January 13th. Stockholders 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) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, January 30th.

Agree Realty has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Agree Realty has a dividend payout ratio of 159.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Agree Realty stock opened at $72.30 on Thursday. The firm has a market capitalization of $8.31 billion, a PE ratio of 42.28, a P/E/G ratio of 2.22 and a beta of 0.55. Agree Realty has a 52 week low of $68.98 and a 52 week high of $79.65. The firm’s 50-day simple moving average is $72.80 and its 200 day simple moving average is $72.69. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59.

Agree Realty (NYSE:ADC) last announced its earnings results on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The company 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 quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. On average, equities research analysts predict that Agree Realty will post 4.27 EPS for the current fiscal year.

About Agree Realty

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.