Agree Rlty Corp Stock Price, News & Analysis

Agree Realty Corporation (NYSE: ADC) announced the pricing of a public offering of 5,000,000 shares at a price of $68.65 per share. The offering is projected to close on May 31, 2022, with an option for underwriters to purchase an additional 750,000 shares. The company has entered into forward sale agreements with Citibank and Wells Fargo for these shares, expecting to deliver them by May 26, 2023. The net proceeds will support general corporate purposes, including property acquisitions and repayment of debt.

Agree Realty Corporation (NYSE: ADC) announced a public offering of 5,000,000 shares of its common stock, with an option for underwriters to purchase an additional 750,000 shares. Citigroup and Wells Fargo Securities are managing the offering. The shares will be delivered no later than May 31, 2022. The Company intends to use the net proceeds for general corporate purposes, including property acquisitions and development. The offering does not provide immediate proceeds to the Company but allows for future capital raising while setting share pricing.

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.234 per common share, marking a 7.8% increase from the prior year. This translates to an annualized dividend of $2.808, payable on June 14, 2022, to stockholders of record as of May 31, 2022. Additionally, a dividend of $0.08854 per share on its 4.25% Series A Cumulative Redeemable Preferred Stock is also declared, payable on June 1, 2022, to stockholders of record by May 23, 2022.

Agree Realty Corporation (NYSE: ADC) reported a strong start to 2022, announcing an increase in its acquisition guidance to between $1.4 billion and $1.6 billion. For Q1 2022, the company invested $430 million in 124 retail net lease properties. Net income rose 13.8% to $34.3 million, while Core Funds from Operations (Core FFO) per share increased 15.5% to $0.97. The company declared a monthly dividend of $0.234 per share, marking a 7.8% year-over-year increase. As of March 31, 2022, its portfolio consisted of 1,510 properties, with an occupancy rate of 99.6% and a weighted-average remaining lease term of 9.1 years.

Agree Realty Corporation (NYSE: ADC) has announced a monthly cash dividend of $0.234 per common share, marking a 3.1% increase from the previous month. This reflects an annualized amount of $2.808, which is a 7.8% increase over last year. The dividend is payable on May 13, 2022, to stockholders recorded by April 29, 2022. Additionally, a dividend of $0.08854 per preferred share will be paid on May 2, 2022.

Agree Realty Corporation (NYSE: ADC) announced it will release its first quarter operating results on May 3, 2022, after market close. A conference call to discuss these results is scheduled for May 4, 2022, at 8:30 AM ET. Interested shareholders can access the call via teleconference or webcast on the Company's website. As of December 31, 2021, the Company owned 1,404 properties across 47 states, totaling approximately 29.1 million square feet of gross leasable area.

Agree Realty Corporation (NYSE: ADC) has received an upgrade from Moody's Investors Service, with its issuer rating increased to Baa1 from Baa2 and a stable outlook noted. This upgrade reflects the Company's robust credit profile, characterized by a low-leverage balance sheet, flexible capital structure, and strong liquidity position. The CEO, Joey Agree, emphasized the disciplined growth since the initial rating in 2018, highlighting the strength of the Company's balance sheet and high-quality retail portfolio, which consists of 1,404 properties across 47 states.

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.227 per common share, reflecting an annualized increase of 9.7% from last year, payable on April 14, 2022. This raises the annualized dividend to $2.724. Additionally, a dividend of $0.08854 per preferred share will be distributed on April 1, 2022. As of December 31, 2021, ADC owned 1,404 properties across the U.S., totaling 29.1 million square feet.

Agree Realty Corporation (NYSE: ADC) reported strong financial results for Q4 and the full year 2021. The company invested approximately $315 million in 74 retail net lease properties. Net Income per share rose 5.2% to $0.44. Core FFO per share increased 10.2% to $0.92. AFFO per share experienced a 9.2% rise to $0.91. The company also declared a monthly dividend of $0.227, marking a 9.8% year-over-year increase. Total acquisitions reached a record $1.43 billion for the year, with a strong balance sheet positioned for growth.