Welcome to our dedicated page for Agree Rlty news (Ticker: ADC), a resource for investors and traders seeking the latest updates and insights on Agree Rlty stock.
Agree Realty Corporation (NYSE: ADC) is a real estate investment trust focused on retail net lease properties, and its news flow reflects this specialization. Company updates frequently cover investment activity, portfolio growth, capital markets transactions and dividend declarations, giving investors insight into how the portfolio and capital structure are evolving.
News releases from Agree Realty often detail acquisition volumes, development and Developer Funding Platform (DFP) projects, and the composition of its tenant base. For example, the company has reported annual real estate investment volumes in the billions of dollars, acquisitions of hundreds of retail net lease properties across dozens of states, and a significant share of annualized base rents derived from investment grade retail tenants. Portfolio updates also describe property counts, gross leasable area, occupancy levels and lease term metrics.
Another recurring theme in ADC news is capital markets and financing activity. The company issues releases on new unsecured term loans, amendments to its revolving credit facility, forward equity offerings and total liquidity levels. These announcements explain borrowing capacity, interest rate terms and credit ratings, providing context for how Agree Realty funds its investment pipeline and manages leverage.
Dividend announcements are also a regular part of the company’s news. Agree Realty declares monthly cash dividends on its common stock and its 4.25% Series A Cumulative Redeemable Preferred Stock, and it highlights changes in annualized dividend amounts and year-over-year growth rates. Earnings-related news, including quarterly results, guidance updates and conference call details, rounds out the coverage, offering information on measures such as Core Funds from Operations and Adjusted Funds from Operations.
Investors and analysts following ADC news can use this page to review historical and recent press releases related to acquisitions, development activity, portfolio metrics, financing arrangements, dividends and earnings communications.
Agree Realty Corporation (NYSE: ADC) has appointed Michael Judlowe to its Board of Directors. Judlowe brings over 20 years of experience in Real Estate Equity Capital Markets, having served as Co-Head of Equity Capital Markets Americas at Jefferies Group and previously at Citigroup. His expertise includes leading transactions that raised over $50 billion in capital. CEO Joey Agree expressed enthusiasm about Judlowe's unique perspectives which are expected to benefit the company's evolution and growth in the retail real estate sector.
Agree Realty Corporation (NYSE: ADC) announced the pricing of an underwritten public offering of 7,000,000 depositary shares at $25.00 each, for expected gross proceeds of approximately $175 million. Each depositary share represents 1/1,000th of a share of 4.250% Series A Cumulative Redeemable Preferred Stock. The offering is set to close on or about September 17, 2021, and proceeds will be used for general corporate purposes, including funding property acquisitions and development activities.
Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.217 per common share, reflecting an annualized increase of 8.5% from the previous year. This brings the total annualized dividend to $2.604 per share. The dividend is scheduled for payment on September 14, 2021 to shareholders of record as of August 31, 2021. As of June 30, 2021, Agree Realty operates 1,262 properties across 46 states, totaling approximately 26.1 million square feet.
Agree Realty Corporation (NYSE: ADC) announced the resignation of Simon Leopold from his roles as Executive Vice President, Chief Financial Officer, and Secretary, effective immediately. The Board will start a search for a permanent CFO, considering both internal and external candidates. Peter Coughenour, Vice President of Corporate Finance, has been named interim CFO. Importantly, Mr. Leopold's departure was not due to disagreements regarding the Company's operations or financial integrity. As of June 30, 2021, the Company owned 1,262 properties across 46 states, totaling approximately 26.1 million square feet.
Agree Realty Corporation (NYSE: ADC) reported Q2 2021 results with net income down 11.5% to $22.3 million and a 27.3% decrease in per share earnings to $0.34. Conversely, Core Funds from Operations (Core FFO) rose by 43.4% to $58.6 million. Total investments in retail properties amounted to approximately $366 million, with an annualized dividend increase of 8.5%. The company completed a $650 million bond offering and a follow-on public offering, raising approximately $327 million, while maintaining a strong balance sheet with a proforma net debt to recurring EBITDA ratio of 3.6 times.
Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.217 per common share, marking an annualized total of $2.604 and an 8.5% increase from the previous year. This dividend is payable on August 13, 2021 to stockholders who are on record as of July 30, 2021. The company owns and manages a portfolio of 1,213 properties across 46 states, totaling approximately 24.2 million square feet of gross leasable area.
Agree Realty Corporation (NYSE: ADC) announced its second quarter operating results will be released after the market closes on July 26, 2021. A conference call to discuss these results is scheduled for July 27, 2021, at 9:00 AM ET. Interested participants can join via teleconference or webcast. As of March 31, 2021, ADC owned 1,213 properties across 46 states, with approximately 24.2 million square feet of gross leasable area. The Company focuses on acquiring and developing properties leased to leading omni-channel retail tenants.
Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.217 per common share, reflecting an annualized amount of $2.604. This represents an 8.5% increase from the previous year's annualized dividend of $2.400. The dividend is scheduled for payment on July 14, 2021 to shareholders on record as of June 30, 2021. As of March 31, 2021, the company owns 1,213 properties across 46 states, totaling approximately 24.2 million square feet of gross leasable area.
Agree Realty Corporation (NYSE: ADC) priced a public offering of 4 million common shares, targeting gross proceeds of approximately $286 million. The closing date is expected around June 15, 2021, pending customary conditions. Proceeds will reduce the revolving credit facility, fund property acquisitions, and support general corporate purposes. Citigroup is the sole underwriter for this offering. The shares will be issued under an effective shelf registration statement filed with the SEC.
Agree Realty Corporation (NYSE: ADC) announced a public offering of 4,000,000 shares of common stock, expected to close on June 15, 2021. The underwriter will have a 30-day option to purchase an additional 600,000 shares. The proceeds will be used to reduce credit facility balances, fund acquisitions, develop properties, and for general corporate purposes. Citigroup is the sole underwriter. The offering is part of an effective registration statement filed with the SEC.
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