Agree Realty Corporation - ADC STOCK NEWS

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.

Agree Realty Corporation (NYSE: ADC) has successfully completed a public offering of 5,750,000 shares of its common stock, including the full exercise of underwriters' options. The offering price was $66.85 per share. The offering was facilitated by Morgan Stanley and Citigroup. The company intends to use the net proceeds for general corporate purposes such as property acquisitions and development, and repayment of debt under its revolving credit facility. However, no proceeds have been received yet, as shares will be settled by September 29, 2023.