Agree Rlty Corp Stock Price, News & Analysis

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.

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.217 per common share, marking an annualized total of $2.604 and an 8.5% increase from the previous year. This dividend is payable on August 13, 2021 to stockholders who are on record as of July 30, 2021. The company owns and manages a portfolio of 1,213 properties across 46 states, totaling approximately 24.2 million square feet of gross leasable area.