Agree Realty Corporation (ADC) to Issue Monthly Dividend of $0.26 on January 15th

Agree Realty Corporation (NYSE:ADC) announced a monthly dividend on Thursday, December 11th. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.262 per share by the real estate investment trust on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, December 31st.

Agree Realty has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Agree Realty has a payout ratio of 159.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Agree Realty to earn $4.47 per share next year, which means the company should continue to be able to cover its $3.14 annual dividend with an expected future payout ratio of 70.2%.

Agree Realty Stock Performance

Shares of ADC opened at $72.37 on Monday. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 42.32, a price-to-earnings-growth ratio of 2.35 and a beta of 0.54. The company’s fifty day moving average is $73.41 and its 200-day moving average is $72.93. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. Agree Realty has a 12 month low of $67.58 and a 12 month high of $79.65.

Agree Realty (NYSE:ADC) last issued its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The firm had revenue of $183.22 million during the quarter, compared to analysts’ expectations of $181.87 million. Agree Realty had a net margin of 28.11% and a return on equity of 3.52%. Agree Realty’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. Equities analysts expect that Agree Realty will post 4.27 EPS for the current fiscal year.

About Agree Realty

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.