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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 (NYSE: ADC) has published its 2023 Sustainability Report, focusing on its environmental, social, and governance (ESG) initiatives. The report aligns with IFRS, SASB, and TCFD frameworks. CEO Joey Agree highlighted the company's progress in engaging tenants on sustainability and green leasing, and improving reporting to align with the International Sustainability Standards Board's IFRS S1 and S2 Standards. Notable achievements include receiving Gold Level recognition from Green Lease Leaders for the second year in a row and improved ratings from GRESB, MSCI, and ISS. The report aims to advance sustainability initiatives and create long-term value. The full report is available on the company's website.
Agree Realty (NYSE: ADC) announced a monthly cash dividend of $0.250 per common share, which annualizes to $3.00 per share, marking a 2.9% increase from the previous year. The dividend will be paid on July 15, 2024, to stockholders of record as of June 28, 2024. Additionally, the company declared a monthly cash dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock, equivalent to $1.0625 on an annual basis. This dividend will be paid on July 1, 2024, to stockholders of record as of June 21, 2024.
Agree Realty announced a monthly cash dividend of $0.250 per common share, equating to an annualized dividend of $3.00 per share. This represents a 2.9% increase from the previous year's $2.916 per share. The dividend will be paid on June 14, 2024, to shareholders recorded by May 31, 2024. The company also declared a monthly cash dividend of $0.08854 per depositary share of its 4.25% Series A Cumulative Redeemable Preferred Stock, equal to $1.0625 annually. This payment will be made on June 3, 2024, to shareholders recorded by May 24, 2024.
Agree Realty (NYSE: ADC) priced a public offering of $450 million 5.625% senior unsecured notes due 2034 at 98.827% of the principal amount. The notes will be guaranteed by the company and certain subsidiaries, supporting general corporate purposes and investment opportunities.
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