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

by · The Cerbat Gem

Agree Realty Corporation (NYSE:ADC – Get Free Report) announced a monthly dividend on Thursday, December 11th. Investors of record on Wednesday, December 31st will be given a dividend of 0.262 per share by the real estate investment trust on Thursday, January 15th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, December 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 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. 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 Price Performance

ADC traded up $0.45 during trading on Friday, reaching $71.71. The stock had a trading volume of 107,258 shares, compared to its average volume of 1,125,320. The stock has a 50 day moving average of $73.43 and a two-hundred day moving average of $73.16. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 2.32 and a beta of 0.54. Agree Realty has a 1-year low of $67.58 and a 1-year high of $79.65.

Agree Realty (NYSE:ADC – Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $183.22 million for the quarter, compared to the consensus estimate of $181.87 million. Agree Realty had a return on equity of 3.52% and a net margin of 28.11%.The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. Agree Realty has set its FY 2025 guidance at 4.310-4.330 EPS. As a group, equities analysts anticipate that Agree Realty will post 4.27 EPS for the current fiscal year.

About Agree Realty

(Get Free Report)

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.

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