Agree Rlty Corp Stock Price, News & Analysis

Agree Realty Corporation (NYSE: ADC) announced a public offering of $350 million in 2.000% senior unsecured notes due 2028 and $300 million in 2.600% senior unsecured notes due 2033. The effective yield to maturity for the 2028 Notes is 2.112%, and for the 2033 Notes, it is 2.684%. Proceeds will be used to repay existing debt and for general corporate purposes, including property acquisitions. This issuance is expected to close on May 14, 2021, enhancing the company's balance sheet and extending its weighted average debt maturity to approximately 9 years.

Agree Realty Corporation (NYSE: ADC) reported a strong Q1 2021, with net income up 41.8% to $30.1 million, and Core FFO increasing 42.0% to $53.3 million. The company invested $391 million in 90 retail properties, focusing on ground leases, which now account for 32% of annualized base rents. The monthly dividend was raised by 8.5% to $0.217. The balance sheet is robust with a forecast for 2021 acquisitions increased to $1.1 billion - $1.3 billion. The new ARC technology platform enhances decision-making and operational efficiency.

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.217 per common share, effective May 14, 2021. This reflects an annualized dividend of $2.604, marking an 8.5% increase from the previous year's annualized dividend of $2.400. Shareholders on record by April 30, 2021, will receive this dividend. The company, focused on acquiring and developing properties leased to top retail tenants, owned 1,129 properties with approximately 22.7 million square feet of leasable area as of December 31, 2020.

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.

Agree Realty Corporation (NYSE: ADC) will announce its first quarter operating results after the market closes on May 3, 2021. A conference call is scheduled for May 4, 2021 at 9:00 AM ET, where shareholders can participate through teleconference or webcast. Agree Realty, a real estate investment trust, manages 1,129 properties across 46 states, totaling approximately 22.7 million square feet of gross leasable area.

Agree Realty Corporation (NYSE: ADC) has released its inaugural Environmental, Social, and Governance (ESG) report, highlighting recent initiatives aimed at enhancing transparency for investors. CEO Joey Agree emphasized the company's commitment to sustainability and corporate responsibility. The report, which includes valuable retail partner data, showcases significant strides in ESG initiatives. Interested parties can view and download the report from the company's website.

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.207 per common share, resulting in an annualized amount of $2.484. This marks a 6.2% increase from the previous year’s annualized dividend of $2.340. The dividend is scheduled for payment on April 14, 2021 to stockholders of record as of March 31, 2021. The company continues its focus on net lease properties, owning 1,129 properties across 46 states with a total gross leasable area of approximately 22.7 million square feet.

Agree Realty Corporation (NYSE: ADC) reported that as of March 1, 2021, it has successfully collected February rent payments from over 99% of its portfolio. This achievement marks the sixth consecutive month of achieving at least 99% of contractual monthly rentals. As of December 31, 2020, the Company owned and operated 1,129 properties across 46 states, with a gross leasable area of approximately 22.7 million square feet. This strong rent collection performance highlights the stability of the Company's operations in the current market.

Agree Realty Corporation (NYSE: ADC) has appointed Simon Leopold as Chief Financial Officer, effective immediately, succeeding Clay Thelen, who has resigned. Leopold brings a wealth of experience from his previous role at Taubman Centers and in real estate investment banking. Additionally, Craig Erlich has been promoted to Chief Operating Officer, expanding his responsibilities to include asset management and marketing. The company owns 1,129 properties across 46 states, totaling approximately 22.7 million square feet of gross leasable area.