Agree Realty Corporation (ADC) To Go Ex-Dividend on July 31st

Agree Realty Corporation (NYSE:ADC) announced a monthly dividend on Tuesday, July 14th. Investors of record on Friday, July 31st will be given a dividend of 0.267 per share by the real estate investment trust on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, July 31st.

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 162.4% 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 $4.67 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 Stock Up 1.0%

NYSE ADC opened at $81.24 on Wednesday. The stock’s 50 day moving average is $76.32 and its 200 day moving average is $76.34. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Agree Realty has a 12 month low of $69.56 and a 12 month high of $82.08. The stock has a market cap of $9.76 billion, a PE ratio of 43.91, a P/E/G ratio of 2.67 and a beta of 0.47.

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.