Agree Rlty Corp Stock Price, News & Analysis

Agree Realty Corporation (NYSE: ADC) announced it will settle all outstanding forward equity for net proceeds of approximately $599 million. This settlement entails 8,739,752 shares and is anticipated to take place on September 30, 2022. As of June 30, 2022, the Company owned a portfolio of 1,607 properties across all 48 continental states, covering roughly 33.8 million square feet. The release also includes forward-looking statements regarding the potential impact of COVID-19 and other market risks on the Company's performance.

Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.234 per common share, effective October 14, 2022, reflecting a 7.8% increase from last year. The annualized amount rises to $2.808 per share. Additionally, a monthly cash dividend of $0.08854 per preferred share is declared, payable October 3, 2022. The company operates 1,607 properties across the U.S., emphasizing its strategy of net leasing to leading retail tenants.

Agree Realty has announced a public offering of $300 million in 4.800% senior unsecured notes due 2032, priced at 99.171% of the principal amount.

The offering is expected to close on August 22, 2022, with an effective yield to maturity of 4.904%. The net proceeds will be utilized for general purposes, including debt reduction and property acquisitions. The notes will feature an effective all-in interest rate of 3.76%, enhancing liquidity and extending the average debt maturity to approximately 8 years.

Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.234 per common share, amounting to an annualized dividend of $2.808, reflecting a 7.8% increase from last year. This dividend is payable on September 14, 2022, to stockholders of record by August 31, 2022. Additionally, a dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share will be paid on September 1, 2022, for record holders by August 22, 2022.

Agree Realty Corporation (NYSE: ADC) reported robust financial performance for Q2 2022, with a 52.7% increase in net income to $34.1 million, or $0.45 per share. Core Funds from Operations (Core FFO) per share rose 9.7% to $0.98, with Adjusted Funds from Operations (AFFO) increasing 10.4% to $0.97. The company raised its 2022 acquisition guidance to $1.5 billion to $1.7 billion and commenced five development projects with estimated costs of $16.5 million. A monthly dividend of $0.234 per share was declared, marking a 7.8% year-over-year increase.

Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.234 per common share, reflecting an annualized increase to $2.808, up 7.8% from last year's $2.604. The dividend is payable on August 12, 2022, to shareholders of record by July 29, 2022. Additionally, a dividend of $0.08854 per preferred share will be paid on August 1, 2022, for shareholders of record by July 22, 2022. The company owns 1,510 properties across 47 states with approximately 31.0 million square feet of gross leasable area.

Agree Realty Corporation (NYSE: ADC) announced it will release its second-quarter operating results on August 2, 2022, after market close. A conference call to discuss these results is set for August 3, 2022, at 9:00 AM ET. Participants can access the call via teleconference or webcast through the company’s website. As of March 31, 2022, the company owned 1,510 properties across 47 states, totaling approximately 31.0 million square feet of gross leasable area.

Agree Realty Corporation (NYSE: ADC) has published its 2021 environmental, social and governance (ESG) report, aligning with sustainability frameworks. CEO Joey Agree highlighted ongoing ESG initiatives aimed at enhancing transparency and stakeholder value. The report underscores the company's commitment to social responsibility and climate change mitigation. As of March 31, 2022, Agree Realty owns 1,510 properties across 47 states, with a gross leasable area of approximately 31 million square feet. The report is available for download on the company's website.

Agree Realty Corporation (NYSE: ADC) has announced a monthly cash dividend of $0.234 per common share, marking a 7.8% increase from last year. This results in an annualized dividend of $2.808, payable on July 14, 2022, to shareholders on record as of June 30, 2022. Additionally, the Company declared a dividend of $0.08854 per depositary share for its 4.25% Series A Cumulative Redeemable Preferred Stock, payable on July 1, 2022, to stockholders recorded by June 24, 2022.