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) has announced it will release its first quarter 2023 operating results after the market closes on May 4, 2023. A conference call scheduled for May 5, 2023 at 9:00 AM ET will discuss these results. Interested parties can participate via teleconference or webcast, with call-in numbers provided for both USA and international access. The Company operates a significant portfolio of 1,839 properties across the continental United States, totaling approximately 38.1 million square feet of gross leasable area. The announcement emphasizes the Company's continued commitment to RETHINKING RETAIL through strategic acquisitions and development of net leased properties.
Agree Realty Corporation (NYSE: ADC) has announced a monthly cash dividend of $0.243 per common share, marking a 1.3% increase from the previous dividend. This change reflects an annualized dividend of $2.916 per share, up 3.8% from last year's $2.808. The dividend is set to be payable on May 12, 2023, to shareholders on record as of April 28, 2023.
Additionally, the company declared a cash dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock, payable on May 1, 2023, to stockholders on record as of April 24, 2023.
On March 13, 2023, Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.240 per common share, reflecting an annualized increase of 5.7% over the prior year. The dividend will be paid on April 14, 2023, to stockholders of record by March 31, 2023. Additionally, a cash dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock is also declared, payable on April 3, 2023. This commitment to dividend growth underscores the company’s stable performance and confidence in future earnings.
Agree Realty Corporation (NYSE: ADC) reported strong financial results for Q4 and full year 2022. The company invested approximately $421 million in 157 properties, achieving a 3.5% increase in Core Funds from Operations (FFO) per share to $0.96 and a 3.9% rise in Adjusted Funds from Operations (AFFO) per share to $0.95. Net income per share remained stable at $0.44. For 2022, net income rose 20.7% to $145 million, with a 7.7% increase in declared dividends totaling $2.805 per share. The company maintained a solid balance sheet with $1.5 billion in liquidity and an upgraded credit rating of Baa1. The portfolio is 99.7% leased, showcasing strong tenant quality.
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