Agree Realty Collects Over 99% of February Rent

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) reported that as of March 1, 2021, it has successfully collected February rent payments from over 99% of its portfolio. This achievement marks the sixth consecutive month of achieving at least 99% of contractual monthly rentals. As of December 31, 2020, the Company owned and operated 1,129 properties across 46 states, with a gross leasable area of approximately 22.7 million square feet. This strong rent collection performance highlights the stability of the Company's operations in the current market.

Positive

• Over 99% of February rent payments collected, demonstrating strong collection efficiency.
• Six consecutive months of at least 99% rent collection, indicating consistent rental income stability.

Negative

• None.

BLOOMFIELD HILLS, Mich., March 2, 2021 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced its progress on February rent collections.

As of March 1, 2021, the Company has received February rent payments from more than 99% of its portfolio. February marks the sixth consecutive month the Company has received at least 99% of all contractual monthly rental obligations.

About Agree Realty Corporation

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants.  As of December 31, 2020, the Company owned and operated a portfolio of 1,129 properties, located in 46 states and containing approximately 22.7 million square feet of gross leasable area.  The Company's common stock is listed on the New York Stock Exchange under the symbol "ADC".  For additional information, please visit www.agreerealty.com.

 

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SOURCE Agree Realty Corporation

FAQ

What percentage of February rent did Agree Realty Corporation collect?

Agree Realty Corporation collected more than 99% of February rent payments.

How many properties does Agree Realty Corporation own?

As of December 31, 2020, Agree Realty Corporation owned 1,129 properties.

What is the significance of the 99% rent collection for ADC?

The 99% rent collection indicates strong income stability and operational efficiency for Agree Realty Corporation.

How many consecutive months has Agree Realty Corporation collected over 99% of rent?

Agree Realty Corporation has collected over 99% of rent for six consecutive months.

In how many states does Agree Realty Corporation operate?

Agree Realty Corporation operates in 46 states.