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

Agree Realty Corporation (NYSE:ADC) declared a monthly dividend on Wednesday, July 15th. Stockholders 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 4.1%. The ex-dividend date of this dividend is Friday, July 31st.

Agree Realty has increased 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% 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 $4.67 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

Shares of Agree Realty stock opened at $78.05 on Wednesday. The firm has a market capitalization of $9.37 billion, a P/E ratio of 42.19, a PEG ratio of 2.61 and a beta of 0.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $75.44 and a 200 day moving average price of $75.75. Agree Realty has a 52 week low of $69.56 and a 52 week high of $82.08.

Agree Realty (NYSE:ADC) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $211.49 million during the quarter, compared to analysts’ expectations of $195.73 million. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. Agree Realty’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Sell-side analysts expect that Agree Realty will post 4.45 EPS for the current year.

Insider Activity

In other Agree Realty news, CEO Joey Agree bought 13,295 shares of Agree Realty stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $75.41 per share, with a total value of $1,002,575.95. Following the completion of the acquisition, the chief executive officer directly owned 675,105 shares in the company, valued at approximately $50,909,668.05. This trade represents a 2.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg Lehmkuhl bought 750 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $75.09 per share, with a total value of $56,317.50. Following the completion of the transaction, the director directly owned 34,465 shares of the company’s stock, valued at $2,587,976.85. This trade represents a 2.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 19,045 shares of company stock valued at $1,415,943 in the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Agree Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Agree Realty by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,731,141 shares of the real estate investment trust’s stock valued at $1,133,114,000 after buying an additional 84,568 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of Agree Realty by 4.8% in the fourth quarter. Cohen & Steers Inc. now owns 14,094,952 shares of the real estate investment trust’s stock worth $1,015,324,000 after buying an additional 649,301 shares during the last quarter. State Street Corp boosted its stake in shares of Agree Realty by 1.6% in the fourth quarter. State Street Corp now owns 5,884,291 shares of the real estate investment trust’s stock worth $425,350,000 after buying an additional 91,766 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Agree Realty by 5.4% during the first quarter. Principal Financial Group Inc. now owns 4,526,088 shares of the real estate investment trust’s stock worth $341,180,000 after acquiring an additional 232,532 shares during the period. Finally, Centersquare Investment Management LLC grew its holdings in Agree Realty by 13.9% during the fourth quarter. Centersquare Investment Management LLC now owns 3,299,172 shares of the real estate investment trust’s stock worth $237,639,000 after acquiring an additional 402,943 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

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.