Agree Realty Corporation (NYSE:ADC) Declares $0.27 Quarterly Dividend

Agree Realty Corporation (NYSE:ADC) announced a quarterly dividend on Tuesday, May 12th. Shareholders of record on Friday, May 29th will be given a dividend of 0.267 per share by the real estate investment trust on Friday, June 12th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th.

Agree Realty has increased 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 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 1.5%

ADC traded down $1.16 during trading on Wednesday, reaching $75.39. 235,855 shares of the company’s stock were exchanged, compared to its average volume of 1,250,213. Agree Realty has a one year low of $69.56 and a one year high of $82.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $9.05 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.61 and a beta of 0.50. The firm has a fifty day moving average price of $77.69 and a two-hundred day moving average price of $75.12.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $211.49 million for the quarter, compared to the consensus estimate of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, equities research analysts forecast that Agree Realty will post 4.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADC has been the topic of several recent research reports. Barclays upped their price objective on shares of Agree Realty from $81.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Stifel Nicolaus upped their price objective on shares of Agree Realty from $83.50 to $84.50 and gave the company a “buy” rating in a report on Wednesday, February 11th. Morgan Stanley set a $81.00 price objective on shares of Agree Realty in a report on Tuesday, April 21st. Royal Bank Of Canada upped their price objective on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Robert W. Baird upped their price objective on shares of Agree Realty from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Agree Realty currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

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.