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

Agree Realty Corporation (NYSE:ADC) announced a monthly dividend on Tuesday, August 11th. Investors of record on Monday, August 31st will be paid a dividend of 0.267 per share by the real estate investment trust on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, August 31st.

Agree Realty has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 1 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 Performance

NYSE ADC traded up $0.61 during trading on Wednesday, hitting $74.00. 80,937 shares of the company’s stock traded hands, compared to its average volume of 1,235,898. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 2.42 and a beta of 0.47. Agree Realty has a 12-month low of $69.56 and a 12-month high of $82.08. The business has a 50 day moving average of $76.70 and a 200-day moving average of $76.66.

Agree Realty (NYSE:ADC) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). Agree Realty had a return on equity of 3.90% and a net margin of 28.84%.The business had revenue of $216.33 million during the quarter, compared to analysts’ expectations of $204.53 million. During the same quarter in the previous year, the business earned $1.06 EPS. Agree Realty’s revenue for the quarter was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. As a group, equities research analysts anticipate that Agree Realty will post 4.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ADC shares. Royal Bank Of Canada lifted their price objective on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets downgraded Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 target price on the stock. in a research report on Friday, April 17th. Citigroup raised their price target on Agree Realty from $77.00 to $82.50 and gave the stock a “neutral” rating in a report on Friday, April 24th. Barclays lifted their price target on Agree Realty from $84.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Robert W. Baird set a $83.00 price objective on Agree Realty in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.94.

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.