Agree Realty Corporation (NYSE:ADC) Raises Dividend to $0.27 Per Share

Agree Realty Corporation (NYSE:ADC) announced a monthly dividend on Tuesday, October 13th. Shareholders of record on Friday, October 30th will be given a dividend of $0.2710 per share by the real estate investment trust on Friday, November 13th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, October 30th. This is a 1.5% increase from Agree Realty’s previous monthly dividend of $0.2670.

Agree Realty has raised its dividend payment by an average of 0.1% annually 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% 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 $4.67 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 1.1%

ADC opened at $65.44 on Wednesday. The company has a fifty day moving average of $70.78 and a 200-day moving average of $74.50. Agree Realty has a twelve month low of $64.43 and a twelve month high of $82.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.60. The stock has a market cap of $8.14 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 2.22 and a beta of 0.42.

Agree Realty (NYSE:ADC) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). Agree Realty had a net margin of 28.84% and a return on equity of 3.90%. The company had revenue of $216.33 million for the quarter, compared to analyst estimates of $204.53 million. During the same quarter in the previous year, the firm earned $1.06 EPS. The firm’s revenue was up 16.8% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.570-4.590 EPS. On average, sell-side analysts predict that Agree Realty will post 4.45 EPS for the current year.

Wall Street Analysts Forecast Growth

ADC has been the subject of several analyst reports. Wall Street Zen lowered shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Mizuho lowered their target price on Agree Realty from $80.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, September 17th. Robert W. Baird set a $83.00 price target on Agree Realty in a research report on Friday, July 31st. Barclays increased their target price on shares of Agree Realty from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Stifel Nicolaus cut their price target on Agree Realty from $84.00 to $81.50 and set a “buy” rating for the company in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.81.

About Agree Realty

Agree Realty Corporation is a real estate investment trust (REIT) that owns, develops, acquires and manages retail properties leased primarily under long-term, single-tenant net lease agreements. Under these arrangements, tenants generally assume responsibility for property-level expenses such as taxes, insurance and maintenance.

The company focuses on necessity-based retail properties, including locations occupied by grocery stores, home improvement retailers, discount retailers, pharmacies and other service-oriented businesses.