Agree Realty Corporation (NYSE:ADC) Declares $0.26 Monthly Dividend

Agree Realty Corporation (NYSE:ADC) announced a monthly dividend on Thursday, February 5th. Shareholders of record on Friday, February 27th will be paid a dividend of 0.262 per share by the real estate investment trust on Friday, March 13th. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, February 27th.

Agree Realty has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Agree Realty has a dividend payout ratio of 159.4% indicating that 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 Up 3.1%

ADC opened at $76.17 on Friday. Agree Realty has a 1 year low of $68.98 and a 1 year high of $79.65. The firm has a 50 day moving average price of $72.38 and a 200 day moving average price of $72.74. The company has a market cap of $8.75 billion, a PE ratio of 44.54, a price-to-earnings-growth ratio of 2.62 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 0.68.

Agree Realty Company Profile

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.