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) 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.
Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.240 per common share, marking a 5.7% increase from the $2.724 annual dividend in Q1 2022. This reflects an annualized amount of $2.880 per share, payable on March 14, 2023, to shareholders on record by February 28, 2023. Additionally, a monthly dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock is set for March 1, 2023. Shareholders should note the company’s steady performance amidst changing retail dynamics.
Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.240 per common share, marking a 5.7% increase from the previous year's annualized amount of $2.724. This results in an annualized dividend of $2.880. The dividend is scheduled for payment on February 14, 2023 to shareholders of record by January 31, 2023. Additionally, a monthly dividend of $0.08854 per preferred share will be payable on February 1, 2023 to shareholders of record by January 23, 2023.
Agree Realty Corporation (NYSE: ADC) announced it will release its fourth quarter and full year 2022 operating results on February 14, 2023, after market close. A conference call is scheduled for February 15, 2023, at 9:00 AM ET to discuss these results. Interested parties can join via teleconference or webcast. As of December 31, 2022, the company owned 1,839 properties with approximately 38.1 million square feet of gross leasable area. For more information, visit www.agreerealty.com.
Agree Realty Corporation (NYSE: ADC) announced a record investment activity of $1.71 billion in 2022, with acquisitions totaling $1.59 billion. The portfolio includes 465 properties across 43 states, primarily leased to investment-grade tenants. In Q4 2022, acquisition volume reached $404.9 million. The company has a robust liquidity profile of approximately $1.5 billion as of year-end 2022. CEO Joey Agree emphasized continued discipline in capital deployment amid economic uncertainties.
Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.240 per common share, marking a 5.7% increase from the previous annualized amount of $2.724. The annualized dividend now stands at $2.880, payable on January 13, 2023, to stockholders on record by December 30, 2022. Additionally, a dividend of $0.08854 per share on its 4.25% Series A Cumulative Redeemable Preferred Stock is declared, payable January 3, 2023, for stockholders recorded by December 23, 2022.
Agree Realty Corporation (NYSE: ADC) declared a monthly cash dividend of $0.240 per common share, marking a 5.7% increase over the prior year's annualized dividend. This brings the annualized amount to $2.880 per share, payable on December 14, 2022 to shareholders on record as of November 30, 2022. Additionally, a monthly dividend of $0.08854 per preferred share is set for December 1, 2022, to shareholders on record as of November 21, 2022.
Agree Realty Corporation (ADC) reported Q3 2022 results with net income at $37.6M, a 3.3% increase YoY, yet a decrease in net income per share by 11.1% to $0.46. Core FFO rose 22.2% to $78.2M, with per share growth of 5.6% to $0.97. Adjusted Funds from Operations (AFFO) also saw a 24.8% increase to $77.6M. The company increased its acquisition guidance for 2022 to $1.6B, raising over $800M through various capital markets transactions. Monthly dividends were declared at $0.240, reflecting a 5.7% YoY increase.
Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.240 per common share, a 2.6% increase from the previous month. This translates to an annualized dividend of $2.880 per common share, reflecting a 5.7% rise over the previous year. The dividend is payable on November 14, 2022, to stockholders of record by October 31, 2022. Additionally, a dividend of $0.08854 per share has been authorized for the 4.25% Series A Cumulative Redeemable Preferred Stock, payable November 1, 2022, to stockholders of record by October 24, 2022.
Agree Realty Corporation (NYSE: ADC) will release its third quarter operating results on November 1, 2022, after market close. A follow-up conference call is scheduled for November 2, 2022, at 9:00 AM ET, accessible via teleconference or webcast. As of June 30, 2022, the Company manages a portfolio of 1,607 properties across the continental U.S., totaling approximately 33.8 million square feet of gross leasable area. This event marks an important opportunity for investors to gain insights into the Company's performance.
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