Welcome to our dedicated page for Agree Realty Corporation news (Ticker: ADC), a resource for investors and traders seeking the latest updates and insights on Agree Realty Corporation stock.
Agree Realty Corporation (NYSE: ADC) is a fully-integrated, self-administered, and self-managed real estate investment trust (REIT) specializing in the ownership, acquisition, and development of net lease retail properties across the United States. With a disciplined investment strategy, robust access to capital, and strong industry relationships, the company consistently identifies lucrative opportunities offering superior risk-adjusted returns.
As of December 31, 2023, Agree Realty's portfolio includes 2,135 properties in 49 states, encompassing approximately 44.2 million square feet of gross leasable area. The portfolio boasts high occupancy rates and long-term leases, with a significant portion of rental revenue derived from investment-grade tenants such as Walmart, Walgreens, McDonald's, and JPMorgan Chase.
The company's strategic focus on net lease properties ensures stable and predictable cash flows, making it a reliable source of dividends for shareholders. Recent financial highlights include a 2.9% increase in the annualized dividend amount to $2.964 per common share and a robust financial position with over $1 billion in liquidity.
In 2023, the company invested approximately $1.34 billion in 319 retail net lease properties and commenced 13 development projects. Additionally, Agree Realty recently announced the pricing of $450 million in senior unsecured notes due 2034, further strengthening its balance sheet and liquidity position.
Agree Realty Corporation's long-term growth strategy is anchored in its commitment to acquiring and developing properties leased to leading retailers, utilizing cutting-edge real estate technology, and maintaining a strong financial foundation. For the latest updates and detailed information about the company's performance, visit the Investors section on their website.
Agree Realty Corporation (NYSE: ADC) announced the immediate reappointment of Ambassador John Rakolta Jr. to its Board of Directors. Rakolta previously served on the board from 2011 until 2019, when he became the U.S. Ambassador to the UAE. With extensive experience as Chairman of Walbridge, a leading construction firm, his return is anticipated to enhance the company's strategic direction. The Board confirmed that Rakolta is independent according to NYSE standards, which is beneficial for corporate governance as the company pursues growth.
Agree Realty Corporation (NYSE: ADC) reported Q4 and full-year 2020 results. The company invested $363.3 million in 106 retail properties, achieving a 6.0% annual increase in dividends to $0.620 per share. However, net income per share dropped 19.6% to $0.42 for Q4 and 10.1% to $1.74 for the year. Key metrics show Core FFO up 35.1% YoY to $47.3 million, while AFFO rose 36.4% to $47.1 million. The portfolio's lease rate stands at 99.5% with a diverse tenant base, leading to a strong balance sheet with a BBB rating. In 2021, ADC plans acquisitions between $800 million and $1 billion.
Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.207 per common share, reflecting an annualized amount of $2.484, which marks a 6.2% increase from the previous year. This dividend is payable on March 12, 2021 to stockholders on record as of February 26, 2021. As of December 31, 2020, the Company owned and operated a portfolio of 1,129 properties across 46 states, totaling approximately 22.7 million square feet of gross leasable area.
Agree Realty Corporation (NYSE: ADC) has declared its inaugural monthly cash dividend of $0.207 per common share, reflecting an annualized amount of $2.484. This represents a 6.2% increase over the previous annualized dividend of $2.340. The dividend is payable on February 12, 2021, to shareholders of record by January 29, 2021. The company, which owns 1,129 properties across 46 states, focuses on acquiring and developing net-leased retail properties.
Agree Realty Corporation (NYSE: ADC) will report its Q4 and full year 2020 operating results on February 18, 2021, after market close. A conference call is scheduled for February 19, 2021, at 9:00 AM ET to discuss the results. The Company owns a portfolio of 1,129 properties across 46 states, totaling approximately 22.7 million square feet of gross leasable space as of December 31, 2020. Shareholders can access the call via teleconference or webcast, with details available on the Company's website.
Agree Realty Corporation (NYSE: ADC) has priced a public offering of 3,000,000 shares of common stock, aiming for gross proceeds of about $195 million, set to close on or around January 11, 2021. The underwriter will have a 30-day option to acquire an additional 450,000 shares. The net proceeds will be utilized for reducing revolving credit, funding acquisitions, development, and general corporate purposes. Citigroup is the sole underwriter for this offering, which follows an effective registration statement filed with the SEC.
Agree Realty Corporation (NYSE: ADC) announced an underwritten public offering of 3,000,000 shares of common stock, with a potential additional 450,000 shares for the underwriter. The offering is expected to close around January 8, 2021. Proceeds will be used to reduce debt, fund property acquisitions, and for general corporate purposes. As of December 31, 2020, the Company owned 1,129 properties across 46 states, totaling approximately 22.7 million square feet. Forward-looking statements indicate potential risks from COVID-19 and economic conditions that may affect operations and financial performance.
On January 4, 2021, Agree Realty Corporation (NYSE: ADC) reported record investment activity for 2020, totaling $1.36 billion. The company acquired 317 retail properties for roughly $1.31 billion at a capitalization rate of 6.4%, with 83.6% of base rents from investment-grade tenants. Dispositions totaled $49.4 million. For 2021, acquisition guidance is set between $800 million to $1 billion. Rent collections remained strong at 99% in December 2020. The company plans to continue building its high-quality real estate portfolio.
Agree Realty Corporation (NYSE: ADC) has declared a quarterly cash dividend of $0.620 per share, marking a 3.3% increase from the last quarter and a 6.0% rise compared to Q4 2019. The dividend will be paid on January 6, 2021, to shareholders recorded by December 23, 2020. Additionally, the company reported receiving 99% of its November rent payments, continuing a trend over the past three months.
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