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 (NYSE: ADC) has announced a public offering of 4,500,000 shares of common stock, with an additional 30-day option for 675,000 shares. The company is entering a forward sale agreement with Bank of America, who will act as the sole book-running manager.
Under the forward sale agreement, Bank of America will borrow and sell the shares to underwriters, with ADC having the right to receive cash proceeds upon physical settlement. The company will not initially receive proceeds from the sale but plans to use future net proceeds for general corporate purposes, including property acquisitions, development activity, and debt repayment under its revolving credit facility.
This structure allows ADC to set the share price at offering while delaying share issuance and proceeds receipt until funding requirements materialize. The offering is being made through an effective shelf registration statement filed with the SEC.
Agree Realty (NYSE: ADC) reported Q1 2025 results with significant growth in investments and improved guidance. The company invested approximately $377 million in 69 retail net lease properties and commenced four development projects worth $24 million.
Financial highlights include a 5.0% increase in Net Income to $45.1 million, though Net Income per share decreased 2.0% to $0.42. Core FFO per share rose 3.1% to $1.04, while AFFO per share increased 3.0% to $1.06. The company declared an increased monthly dividend of $0.256 per share for April 2025.
The company's portfolio consisted of 2,422 properties across all 50 states, with 99.2% occupancy and 68.3% of annualized base rents from investment-grade retail tenants. Given strong performance, ADC raised its 2025 investment guidance to $1.3-$1.5 billion and increased AFFO per share guidance to $4.27-$4.30.
Agree Realty (NYSE: ADC) has announced an increase in its monthly cash dividend to $0.256 per common share, marking a 1.2% month-over-month increase. The new dividend represents an annualized amount of $3.072 per common share, a 2.4% rise from the previous $3.00 per common share in Q2 2024.
The common share dividend will be payable on May 14, 2025, to stockholders of record as of April 30, 2025. Additionally, the company declared a monthly cash dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock, equivalent to $1.0625 annually, payable May 1, 2025, to stockholders of record as of April 21, 2025.
Agree Realty (NYSE: ADC) has scheduled its first quarter 2025 earnings release and conference call. The company will announce Q1 2025 operating results after market close on Tuesday, April 22, 2025, followed by a conference call on Wednesday, April 23, 2025, at 9:00 AM ET.
Shareholders and interested parties can access the call via teleconference using USA Toll Free (800) 836-8184 or International (646) 357-8785. A live webcast will be available through the company's website at www.agreerealty.com in the Investors section. Participants should connect five minutes before the scheduled time. A replay of the conference call webcast will be archived and accessible through the company's Investors section.
Agree Realty (NYSE: ADC) has announced the establishment of a $625 million commercial paper program through its subsidiary, Agree Partnership. The program will enable the issuance of short-term, unsecured commercial paper notes in the U.S. market.
The notes will have equal ranking with the Issuer's other senior unsecured debt and will be fully guaranteed by the Company and certain subsidiaries. The proceeds will support general corporate purposes, with the Company's $1.25 billion revolving credit facility serving as a liquidity backstop.
This strategic move aims to diversify the Company's balance sheet and is expected to provide cost advantages compared to their existing revolving credit facility.
Agree Realty (NYSE: ADC) has announced two dividend declarations approved by its Board of Directors. The company declared a monthly cash dividend of $0.253 per common share, representing an annualized dividend of $3.036 per common share. This marks a 2.4% increase from the previous quarter's annualized dividend of $2.964.
The common share dividend will be paid on April 14, 2025, to stockholders of record as of March 31, 2025. Additionally, ADC declared a monthly cash dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock, equivalent to $1.0625 annually, payable April 1, 2025, to stockholders of record as of March 21, 2025.
Agree Realty (NYSE: ADC) reported its Q4 and full-year 2024 results, providing initial 2025 AFFO per share guidance of $4.26 to $4.30. Key highlights include:
For Q4 2024: Net Income decreased 1.6% to $43.4M, Core FFO increased 7.9% to $107.6M ($1.02 per share), and AFFO increased 9.1% to $109.5M ($1.04 per share). The company invested approximately $371M in 127 retail net lease properties.
For Full Year 2024: Net Income increased 11.8% to $181.8M, Core FFO increased 10.7% to $416.7M ($4.08 per share), and AFFO increased 11.6% to $422.8M ($4.14 per share). The company invested approximately $951M in 282 retail net lease properties.
The company's portfolio consisted of 2,370 properties across all 50 states, with 99.6% occupancy and 68.2% of annualized base rents from investment grade retail tenants. The company raised approximately $1.1B of forward equity and completed a $450M senior unsecured notes offering.
Agree Realty (NYSE: ADC) has announced two dividend declarations. The company's Board of Directors declared a monthly cash dividend of $0.253 per common share, representing an annualized dividend of $3.036 per common share. This marks a 2.4% increase from the previous annualized dividend of $2.964 per common share in Q1 2024. The common share dividend will be paid on March 14, 2025, to stockholders of record as of February 28, 2025.
Additionally, the company declared a monthly cash dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock, equivalent to $1.0625 annually. This preferred dividend is payable March 3, 2025, to stockholders of record as of February 21, 2025.
Agree Realty (NYSE: ADC) has announced two dividend declarations. The company's Board approved a monthly common share dividend of $0.253, representing an annualized amount of $3.036 per share. This marks a 2.4% increase from the previous annualized dividend of $2.964 per share in Q1 2024.
The common share dividend will be paid on February 14, 2025, to stockholders of record as of January 31, 2025. Additionally, the company declared a monthly dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock, equivalent to $1.0625 annually, payable February 3, 2025, to stockholders of record as of January 24, 2025.
Agree Realty (NYSE: ADC) has announced it will release its fourth quarter and full year 2024 operating results after market close on Tuesday, February 11, 2025. The company will host a conference call to discuss these results on Wednesday, February 12, 2025, at 9:00 AM ET.
Shareholders and interested parties can access the call via teleconference using USA Toll Free (800) 836-8184 or International (646) 357-8785, or through a webcast at the company's website. Participants should connect five minutes before the scheduled time. A replay of the conference call webcast will be available in the Investors section of the company's website.