Agree Realty Corporation to Issue Quarterly Dividend of $0.27 (NYSE:ADC)

Agree Realty Corporation (NYSE:ADC) declared a quarterly dividend on Monday, June 8th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.267 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, June 30th.

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 payout ratio of 162.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Agree Realty to earn $4.67 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 68.5%.

Agree Realty Trading Down 0.1%

NYSE ADC opened at $73.31 on Tuesday. Agree Realty has a 12 month low of $69.56 and a 12 month high of $82.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 39.62, a price-to-earnings-growth ratio of 2.47 and a beta of 0.48. The company’s fifty day moving average price is $75.95 and its two-hundred day moving average price is $75.24.

Agree Realty (NYSE:ADC) last posted its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. During the same period in the prior year, the firm posted $0.42 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, research analysts predict that Agree Realty will post 4.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Agree Realty in a research note on Monday, June 1st. They set a “buy” rating and a $84.00 price objective on the stock. Truist Financial raised their price target on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Raymond James Financial raised their price target on shares of Agree Realty from $84.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, March 17th. Barclays reduced their price target on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 19th. Finally, Mizuho reduced their price target on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.80.

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.