Welcome to our dedicated page for Agree Rlty news (Ticker: ADC), a resource for investors and traders seeking the latest updates and insights on Agree Rlty stock.
Overview
Agree Realty Corporation (NYSE: ADC) is a fully integrated real estate investment trust (REIT) that specializes in the acquisition, development, and management of net lease retail properties across the United States. Operating in the retail real estate sector, the company provides essential exposure to a stable asset class by focusing on properties leased to high-caliber, investment-grade retail tenants. With a strategic emphasis on long-term leases, Agree Realty harnesses its institutional capital resources and extensive industry relationships to secure properties that deliver superior risk-adjusted returns. Key industry terms such as retail real estate, net lease, and REIT investment underscore its presence in a competitive market space.
Business Model and Operations
The core of Agree Realty’s business model lies in its disciplined approach to acquiring and developing properties that are net leased to prominent retail brands. By maintaining a self-administered and self-managed platform, the company ensures meticulous control over its assets, from property selection to tenant relations and operational oversight. This integration allows for efficient capital allocation and a robust response to market dynamics. The revenue base is primarily generated through stable, ongoing rental incomes derived from long-term lease agreements with industry-leading tenants.
Strategic Focus and Industry Expertise
Agree Realty leverages decades of expertise in retail real estate to identify and capitalize on high-quality investment opportunities. Its strategic focus includes:
- Stringent Asset Selection: Emphasizing properties with strong tenant profiles and long-term lease agreements to minimize risk.
- Diversification: Operating across multiple states and retail sectors, thereby reducing geographic and sector-specific concentration risks.
- Innovative Development: Employing adaptive strategies and state-of-the-art real estate technologies to enhance property development and management.
This approach not only reinforces the company’s competitive position but also demonstrates its commitment to operational excellence and financial discipline.
Market Position and Competitive Landscape
In the competitive realm of net lease retail REITs, Agree Realty stands out due to its integrated management model and consistent focus on high-quality, investment-grade tenants. The company’s extensive portfolio, comprising properties spanning many states, offers a diversified revenue stream that is resilient to market fluctuations. Its strategic partnerships with nationally recognized retail brands further bolster its market credibility and operational stability, making it a noteworthy entity in the retail investment space.
Operational and Investment Highlights
- Integrated Platform: Self-managed operations ensure transparency and efficiency in property management.
- Diversified Portfolio: A broad mix of retail properties across the U.S. minimizes risks associated with market or sector-specific downturns.
- Focused Acquisitions: A disciplined acquisition strategy that targets net lease assets with favorable lease terms and stable income flows.
- Technological Innovation: Utilization of advanced real estate technology to monitor market trends, streamline operations, and enhance asset performance.
Considerations for Investors
Investors examining Agree Realty Corporation can appreciate its steady approach to generating income through long-term, net lease agreements with established retail tenants. The company’s clear focus on operational excellence and risk reduction, backed by decades of industry experience, makes it an informative case study in the realm of retail real estate investments. The integrated model and strong relationships with notable industry players provide a deep insight into its robust operational framework, while ensuring that investment research remains supported by sound, evergreen fundamentals.
Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.227 per common share, reflecting an annualized increase of 9.8% from last year, amounting to $2.724. This dividend is payable on December 14, 2021, to stockholders of record as of November 30, 2021. Additionally, the Company declared a dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock, payable on December 1, 2021. These announcements underscore the company’s commitment to returning value to shareholders.
Agree Realty Corporation (NYSE: ADC) reported strong Q3 2021 financial results with a 70.9% increase in net income to $36.4 million and a 34.4% rise in net income per share to $0.52. Core Funds from Operations (Core FFO) per share rose 13.0% to $0.92, while Adjusted Funds from Operations (AFFO) per share increased 11.5% to $0.89. The company invested approximately $342.7 million in retail properties and declared a monthly dividend of $0.227 per share, marking a 9.8% year-over-year increase. The portfolio remains strong with 99.6% leased properties and notable tenant diversification.
Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.227 per common share, a 4.6% increase compared to the previous amount. This annualizes to $2.724, marking a 9.8% rise from last year. The dividend is scheduled to be paid on November 12, 2021, to shareholders recorded by October 29, 2021. Additionally, the Company announced a dividend of $0.08854 on its 4.25% Series A Preferred Stock, payable on November 1, 2021, to shareholders of record by October 25, 2021.
Agree Realty Corporation (NYSE: ADC) is set to release its third quarter operating results on November 1, 2021, after market close. A follow-up conference call will occur on November 2, 2021, at 9:00 AM ET. Interested parties can access the call via teleconference or webcast. The company operates a portfolio of 1,262 properties across 46 states, offering approximately 26.1 million square feet of gross leasable area. For more details, visit the company's website.
Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.217 per common share, marking an 8.5% increase from the previous annualized dividend amount of $2.400. This dividend is payable on October 14, 2021 to stockholders of record as of September 30, 2021. Additionally, a prorated dividend of $0.0413194 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock has been announced, payable on October 1, 2021 for the period from September 17 to October 1, 2021.
Agree Realty Corporation (NYSE: ADC) has appointed Michael Judlowe to its Board of Directors. Judlowe brings over 20 years of experience in Real Estate Equity Capital Markets, having served as Co-Head of Equity Capital Markets Americas at Jefferies Group and previously at Citigroup. His expertise includes leading transactions that raised over $50 billion in capital. CEO Joey Agree expressed enthusiasm about Judlowe's unique perspectives which are expected to benefit the company's evolution and growth in the retail real estate sector.
Agree Realty Corporation (NYSE: ADC) announced the pricing of an underwritten public offering of 7,000,000 depositary shares at $25.00 each, for expected gross proceeds of approximately $175 million. Each depositary share represents 1/1,000th of a share of 4.250% Series A Cumulative Redeemable Preferred Stock. The offering is set to close on or about September 17, 2021, and proceeds will be used for general corporate purposes, including funding property acquisitions and development activities.
Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.217 per common share, reflecting an annualized increase of 8.5% from the previous year. This brings the total annualized dividend to $2.604 per share. The dividend is scheduled for payment on September 14, 2021 to shareholders of record as of August 31, 2021. As of June 30, 2021, Agree Realty operates 1,262 properties across 46 states, totaling approximately 26.1 million square feet.
Agree Realty Corporation (NYSE: ADC) announced the resignation of Simon Leopold from his roles as Executive Vice President, Chief Financial Officer, and Secretary, effective immediately. The Board will start a search for a permanent CFO, considering both internal and external candidates. Peter Coughenour, Vice President of Corporate Finance, has been named interim CFO. Importantly, Mr. Leopold's departure was not due to disagreements regarding the Company's operations or financial integrity. As of June 30, 2021, the Company owned 1,262 properties across 46 states, totaling approximately 26.1 million square feet.
Agree Realty Corporation (NYSE: ADC) reported Q2 2021 results with net income down 11.5% to $22.3 million and a 27.3% decrease in per share earnings to $0.34. Conversely, Core Funds from Operations (Core FFO) rose by 43.4% to $58.6 million. Total investments in retail properties amounted to approximately $366 million, with an annualized dividend increase of 8.5%. The company completed a $650 million bond offering and a follow-on public offering, raising approximately $327 million, while maintaining a strong balance sheet with a proforma net debt to recurring EBITDA ratio of 3.6 times.
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