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 reports recurring developments as a retail net lease REIT focused on acquiring, developing and managing properties leased to retail tenants. Company updates commonly cover operating results, AFFO and investment guidance, retail property acquisitions, development activity, and projects under its Developer Funding Platform.
ADC news also includes monthly common dividends and dividends on its 4.25% Series A Cumulative Redeemable Preferred Stock, along with capital markets activity such as at-the-market equity issuance, forward equity sales, liquidity updates, credit capacity and portfolio disclosures, including ground lease activity.
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.
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 $2.400 to $2.604 for 2021. The dividend will be payable on June 11, 2021, to shareholders on record by May 28, 2021. The company, as of March 31, 2021, operates a portfolio of 1,213 properties across 46 states, totaling around 24.2 million square feet of gross leasable area.
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.