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Agree Realty Corporation - ADC STOCK NEWS

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.

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Agree Realty Corporation (NYSE: ADC) has published its 2021 environmental, social and governance (ESG) report, aligning with sustainability frameworks. CEO Joey Agree highlighted ongoing ESG initiatives aimed at enhancing transparency and stakeholder value. The report underscores the company's commitment to social responsibility and climate change mitigation. As of March 31, 2022, Agree Realty owns 1,510 properties across 47 states, with a gross leasable area of approximately 31 million square feet. The report is available for download on the company's website.

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Agree Realty Corporation (NYSE: ADC) has announced a monthly cash dividend of $0.234 per common share, marking a 7.8% increase from last year. This results in an annualized dividend of $2.808, payable on July 14, 2022, to shareholders on record as of June 30, 2022. Additionally, the Company declared a dividend of $0.08854 per depositary share for its 4.25% Series A Cumulative Redeemable Preferred Stock, payable on July 1, 2022, to stockholders recorded by June 24, 2022.

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Agree Realty Corporation has successfully completed a public offering of 5,750,000 shares of its common stock, including the full exercise of underwriters' options, at a price of $68.65 per share. The offering is part of forward sale agreements with Citibank and Wells Fargo. The company expects to use any net proceeds for general corporate purposes, including property acquisitions and debt repayment. Settlement of these shares is anticipated by May 26, 2023. The corporation, which owns 1,510 properties across 47 states, operates as a real estate investment trust focused on retail.

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Agree Realty Corporation (NYSE: ADC) announced the pricing of a public offering of 5,000,000 shares at a price of $68.65 per share. The offering is projected to close on May 31, 2022, with an option for underwriters to purchase an additional 750,000 shares. The company has entered into forward sale agreements with Citibank and Wells Fargo for these shares, expecting to deliver them by May 26, 2023. The net proceeds will support general corporate purposes, including property acquisitions and repayment of debt.

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Agree Realty Corporation (NYSE: ADC) announced a public offering of 5,000,000 shares of its common stock, with an option for underwriters to purchase an additional 750,000 shares. Citigroup and Wells Fargo Securities are managing the offering. The shares will be delivered no later than May 31, 2022. The Company intends to use the net proceeds for general corporate purposes, including property acquisitions and development. The offering does not provide immediate proceeds to the Company but allows for future capital raising while setting share pricing.

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Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.234 per common share, marking a 7.8% increase from the prior year. This translates to an annualized dividend of $2.808, payable on June 14, 2022, to stockholders of record as of May 31, 2022. Additionally, a dividend of $0.08854 per share on its 4.25% Series A Cumulative Redeemable Preferred Stock is also declared, payable on June 1, 2022, to stockholders of record by May 23, 2022.

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Agree Realty Corporation (NYSE: ADC) reported a strong start to 2022, announcing an increase in its acquisition guidance to between $1.4 billion and $1.6 billion. For Q1 2022, the company invested $430 million in 124 retail net lease properties. Net income rose 13.8% to $34.3 million, while Core Funds from Operations (Core FFO) per share increased 15.5% to $0.97. The company declared a monthly dividend of $0.234 per share, marking a 7.8% year-over-year increase. As of March 31, 2022, its portfolio consisted of 1,510 properties, with an occupancy rate of 99.6% and a weighted-average remaining lease term of 9.1 years.

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Agree Realty Corporation (NYSE: ADC) has announced a monthly cash dividend of $0.234 per common share, marking a 3.1% increase from the previous month. This reflects an annualized amount of $2.808, which is a 7.8% increase over last year. The dividend is payable on May 13, 2022, to stockholders recorded by April 29, 2022. Additionally, a dividend of $0.08854 per preferred share will be paid on May 2, 2022.

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Agree Realty Corporation (NYSE: ADC) announced it will release its first quarter operating results on May 3, 2022, after market close. A conference call to discuss these results is scheduled for May 4, 2022, at 8:30 AM ET. Interested shareholders can access the call via teleconference or webcast on the Company's website. As of December 31, 2021, the Company owned 1,404 properties across 47 states, totaling approximately 29.1 million square feet of gross leasable area.

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Agree Realty Corporation (NYSE: ADC) has received an upgrade from Moody's Investors Service, with its issuer rating increased to Baa1 from Baa2 and a stable outlook noted. This upgrade reflects the Company's robust credit profile, characterized by a low-leverage balance sheet, flexible capital structure, and strong liquidity position. The CEO, Joey Agree, emphasized the disciplined growth since the initial rating in 2018, highlighting the strength of the Company's balance sheet and high-quality retail portfolio, which consists of 1,404 properties across 47 states.

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FAQ

What is the current stock price of Agree Realty Corporation (ADC)?

The current stock price of Agree Realty Corporation (ADC) is $70.17 as of December 20, 2024.

What is the market cap of Agree Realty Corporation (ADC)?

The market cap of Agree Realty Corporation (ADC) is approximately 7.5B.

What type of properties does Agree Realty Corporation specialize in?

Agree Realty Corporation specializes in the ownership, acquisition, and development of net lease retail properties across the United States.

Who are some of Agree Realty's major tenants?

Some of Agree Realty's major tenants include Walmart, Walgreens, McDonald's, JPMorgan Chase, and other industry-leading retailers.

What is the company's investment strategy?

Agree Realty Corporation follows a disciplined and focused investment strategy, leveraging its institutional access to capital and strong industry relationships to identify high-quality opportunities with superior risk-adjusted returns.

How many properties does Agree Realty own?

As of December 31, 2023, Agree Realty owns and operates a portfolio of 2,135 properties located in 49 states.

What is the company's financial position?

Agree Realty Corporation maintains a robust financial position with over $1 billion in liquidity, ensuring stable and predictable cash flows.

What recent financial highlights were announced?

Recent financial highlights include a 2.9% increase in the annualized dividend amount to $2.964 per common share and a successful pricing of $450 million in senior unsecured notes due 2034.

How does Agree Realty generate revenue?

Agree Realty generates revenue primarily through rental income from its net lease retail properties, with a significant portion derived from long-term leases with investment-grade tenants.

What are the company's latest projects?

In 2023, Agree Realty commenced 13 development projects and invested approximately $1.34 billion in 319 retail net lease properties.

How can I stay updated on Agree Realty's performance?

For the latest updates and detailed information about Agree Realty's performance, visit the Investors section on their website.

What is the stock symbol for Agree Realty Corporation?

Agree Realty Corporation's common stock is listed on the New York Stock Exchange under the symbol 'ADC'.

Agree Realty Corporation

NYSE:ADC

ADC Rankings

ADC Stock Data

7.55B
101.69M
1.76%
111.33%
13.24%
REIT - Retail
Real Estate Investment Trusts
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United States of America
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