Agree Realty Corporation - ADC STOCK NEWS

Agree Realty Corporation (NYSE: ADC) reported strong financial results for Q4 and the full year 2021. The company invested approximately $315 million in 74 retail net lease properties. Net Income per share rose 5.2% to $0.44. Core FFO per share increased 10.2% to $0.92. AFFO per share experienced a 9.2% rise to $0.91. The company also declared a monthly dividend of $0.227, marking a 9.8% year-over-year increase. Total acquisitions reached a record $1.43 billion for the year, with a strong balance sheet positioned for growth.

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.227 per common share, marking a 9.7% increase from the prior annualized dividend of $2.484. Shareholders of record as of February 28, 2022 will receive this payment on March 14, 2022. Additionally, a dividend of $0.08854 per depositary share for the 4.25% Series A Preferred Stock will be paid on March 1, 2022 to stockholders of record on February 24, 2022.

Agree Realty Corporation (NYSE: ADC) announced the acquisition of a 50,000 square foot building in Royal Oak, Michigan, previously occupied by Art Van Furniture. The strategic location aims to serve as a new corporate headquarters, with construction expected to start in Q1 2022 and finish by Q2 2023. The facility will include state-of-the-art technology and wellness features to support increased workforce needs. With nearly $3 billion invested since the pandemic, the company approaches $7 billion in enterprise value, showcasing its growth trajectory.

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.227 per common share, reflecting an annualized increase of 9.7% from the previous year. The new annualized dividend amount is $2.724 per share, payable on February 14, 2022, to stockholders of record by January 31, 2022. Additionally, a dividend of $0.08854 per depositary share for the 4.25% Series A Preferred Stock has also been declared, payable on February 1, 2022, to stockholders of record by January 24, 2022.

Agree Realty Corporation (NYSE: ADC) will release its fourth quarter and full year 2021 operating results on February 22, 2022, post-market. A conference call to discuss these results is scheduled for February 23, 2022, at 9:00 AM ET. Interested parties can access the call via teleconference or webcast. As of December 31, 2021, the company owned 1,404 properties across 47 states, with approximately 29.1 million square feet of gross leasable area. The company's focus is on acquiring and developing properties net leased to top omni-channel retail tenants.

Agree Realty Corporation (NYSE: ADC) reported record investment activity for 2021, totaling $1.43 billion across acquisitions and developments. The company acquired 290 retail properties valued at approximately $1.39 billion at a weighted average capitalization rate of 6.2%, with a significant portion coming from investment-grade tenants. For 2022, acquisition guidance ranges from $1.1 billion to $1.3 billion. The company also expanded its credit facility to $1 billion, with future potential increases.

Agree Realty Corporation (NYSE: ADC) has expanded its senior unsecured revolving credit facility to $1.0 billion, with an accordion option for additional commitments up to $1.75 billion. The facility matures in January 2026 and can be extended to January 2027. The facility's interest rate is based on the Company’s credit ratings, currently set at 77.5 basis points over LIBOR. This expansion enhances the Company’s liquidity to approximately $1.5 billion excluding additional options, supporting anticipated future growth.

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.227 per common share, marking a 9.8% increase from the previous year's annualized dividend of $2.480. The dividend is set for payment on January 14, 2022, to stockholders of record as of December 31, 2021. Additionally, the Company announced a monthly cash dividend of $0.08854 per share on its 4.25% Series A Preferred Stock, payable on January 3, 2022, to stockholders of record by December 23, 2021.

Agree Realty Corporation (NYSE: ADC) has announced a public offering of 5,000,000 shares of its common stock priced at $68.15 per share. The offering, set to close on December 13, 2021, includes an option for underwriters to purchase an additional 750,000 shares. The company entered forward sale agreements with financial institutions, leading to potential cash proceeds upon settlement by December 8, 2022, although it will not initially receive proceeds from the offering. The funds, when received, are expected to support property acquisitions and corporate purposes.