Agree Realty Corporation (NYSE:ADC – Get Free Report) announced a monthly dividend on Tuesday, August 11th. Investors of record on Monday, August 31st will be given a dividend of 0.267 per share by the real estate investment trust on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, August 31st.
Agree Realty has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years. Agree Realty has a 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. 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 Price Performance
Shares of NYSE ADC opened at $74.24 on Thursday. The company has a fifty day moving average price of $76.75 and a 200 day moving average price of $76.68. The firm has a market cap of $9.23 billion, a PE ratio of 39.91, a PEG ratio of 2.40 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.60. Agree Realty has a 1-year low of $69.56 and a 1-year high of $82.08.
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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