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) reported its Q3 2020 results, highlighting a record investment of $470.7 million in 97 retail net lease properties. Despite a 19.8% drop in net income per share to $0.39, net income rose 3.3% to $21.3 million. Core FFO per share increased 3.5% to $0.81, while AFFO per share rose 4.0% to $0.80. The quarterly dividend saw a 5.3% year-over-year increase to $0.60. The company maintained a high rent collection rate of over 97% during Q3, aiming for acquisitions between $1.25 billion and $1.35 billion for the year.
Agree Realty Corporation (NYSE: ADC) reported strong rent collection figures for September 2020, achieving 99% collection from its portfolio, with only 1% in deferral agreements. For the third quarter, the overall collection rate stood at 97%, with deferrals representing 2%. In previous months, 96% and 97% rent collections were recorded for July and August respectively. The Company, primarily focused on net-leased retail properties, owned 936 properties across 46 states as of June 30, 2020, covering approximately 18.4 million square feet.
Agree Realty Corporation (NYSE: ADC) announced the release of its third quarter 2020 operating results on October 19, 2020, after market close. A conference call is scheduled for October 20, 2020, at 9:00 AM ET for discussion of these results. Interested parties can join via teleconference or webcast. The company currently owns a portfolio of 936 properties across 46 states, totaling approximately 18.4 million square feet of gross leasable area as of June 30, 2020.
Agree Realty Corporation (NYSE: ADC) has declared a quarterly cash dividend of $0.60 per share, representing a 5.3% increase from the previous year. This marks the 106th consecutive dividend and will be paid on October 9, 2020, to shareholders of record by September 25, 2020. As of June 30, 2020, the company operated a portfolio of 936 properties across 46 states with approximately 18.4 million square feet of gross leasable space.
Agree Realty Corporation (NYSE: ADC) reported strong progress in August rent collections, with 96% of its portfolio receiving payments. For July, 95% of rent was collected, while second quarter collections stood at 91%. The company also entered into deferral agreements, representing 2% and 3% for August and July rents, respectively. Additionally, 3% of second quarter rents were deferred. As of June 30, 2020, ADC owned 936 properties across 46 states, totaling approximately 18.4 million square feet of gross leasable area.
Agree Realty Corporation (NYSE: ADC) announced a public offering of $350 million in 2.900% senior unsecured notes due 2030, priced at 99.927% of the principal amount. The offering is expected to close on August 17, 2020. Proceeds will fund acquisitions, development, and working capital, including reducing the revolving credit facility's balance. Year-to-date, the company has raised over $1.15 billion in capital, strengthening its financial position for future investments, as stated by CEO Joey Agree.
Agree Realty Corporation (ADC) announced its second-quarter 2020 results, showing a 36.1% increase in net income to $25.3 million and a 4.7% rise in net income per share to $0.47. Core Funds from Operations (Core FFO) rose 32.0% to $40.9 million, while Adjusted Funds from Operations (AFFO) increased 33.1% to $40.7 million. The Company declared a $0.60 dividend per share, marking a 5.3% year-over-year increase. It successfully raised $362.7 million through an equity offering and plans $900 million to $1.1 billion in acquisitions for 2020.
Agree Realty Corporation (NYSE: ADC) announced its second quarter 2020 operating results release will occur after market close on July 20, 2020. A conference call to discuss these results is scheduled for July 21, 2020, at 9:00 AM ET. Shareholders can participate via teleconference or webcast, with details available on the company's website. As of March 31, 2020, the company owned 868 properties across 46 states, totaling approximately 16.3 million square feet of gross leasable area.
On June 22, 2020, Agree Realty Corporation (NYSE: ADC) reported that it has collected June rent payments from 88% of its portfolio. Additionally, 5% of June rents have been deferred. For April and May, rent collections stood at 91% and 88%, respectively. The company owns 868 properties across 46 states, with a total leasable area of around 16.3 million square feet, primarily leased to retail tenants.