Agree Realty Corporation (NYSE:ADC – Get Free Report) declared 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) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th.
Agree Realty has raised its dividend 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 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 Price Performance
ADC stock traded down $1.16 during midday trading on Wednesday, hitting $75.39. The company’s stock had a trading volume of 235,855 shares, compared to its average volume of 1,250,213. Agree Realty has a 12 month low of $69.56 and a 12 month high of $82.08. 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 firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 2.61 and a beta of 0.50. The company has a 50 day moving average of $77.69 and a two-hundred day moving average of $75.12.
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.
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