Agree Realty Corporation (ADC) To Go Ex-Dividend on February 27th

Agree Realty Corporation (NYSE:ADC) announced a monthly dividend on Thursday, February 5th. Investors of record on Friday, February 27th will be given a dividend of 0.262 per share by the real estate investment trust on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, February 27th.

Agree Realty has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive 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. 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 Trading Down 0.2%

ADC stock opened at $79.18 on Wednesday. Agree Realty has a one year low of $68.98 and a one year high of $79.65. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 44.73, a price-to-earnings-growth ratio of 3.08 and a beta of 0.54. The company has a fifty day moving average price of $73.53 and a two-hundred day moving average price of $73.09. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.81 and a quick ratio of 0.81.

Wall Street Analyst Weigh In

ADC has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of Agree Realty from $81.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Agree Realty in a research report on Wednesday, January 21st. Evercore lowered their target price on Agree Realty from $85.00 to $83.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. Stifel Nicolaus boosted their price target on Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Barclays boosted their price objective on shares of Agree Realty from $77.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, December 3rd. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

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.