Agree Realty Collects At Least 99% of Rent For Seven Consecutive Months

(Neutral)

Rhea-AI Summary

Agree Realty Corporation (ADC) reported on March 31, 2021, that it received rent payments from over 99% of its portfolio for March, marking the seventh consecutive month of achieving at least 99% of all contractual rent obligations. As of December 31, 2020, the company owned 1,129 properties across 46 states, encompassing approximately 22.7 million square feet of gross leasable area. The consistent rent collection highlights the company's strong operational performance amid market challenges.

Positive

More than 99% of March rent collected.
Seventh consecutive month of at least 99% rent collection.
Diverse property portfolio with 1,129 properties across 46 states.

Negative

None.

News Market Reaction – ADC

+1.10%

+1.10% Session move

In the trading session that priced this news, ADC gained 1.10%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

04/01/2021 - 04:05 PM

BLOOMFIELD HILLS, Mich., April 1, 2021 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced its progress on March rent collections.

As of March 31, 2021, the Company has received March rent payments from more than 99% of its portfolio. March marks the seventh consecutive month the Company has received at least 99% of all contractual monthly rental obligations.

About Agree Realty Corporation

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of December 31, 2020, the Company owned and operated a portfolio of 1,129 properties, located in 46 states and containing approximately 22.7 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange under the symbol "ADC". For additional information, please visit www.agreerealty.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/agree-realty-collects-at-least-99-of-rent-for-seven-consecutive-months-301260992.html