Agree Realty Corporation (NYSE:ADC) Plans Quarterly Dividend of $0.27

Agree Realty Corporation (NYSE:ADC) declared a quarterly dividend on Monday, June 8th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.267 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, June 30th.

Agree Realty has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Agree Realty has a payout ratio of 162.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Agree Realty to earn $4.67 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 68.5%.

Agree Realty Stock Performance

Shares of ADC stock opened at $73.31 on Tuesday. Agree Realty has a one year low of $69.56 and a one year high of $82.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a 50 day moving average price of $75.95 and a 200 day moving average price of $75.24. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 39.62, a price-to-earnings-growth ratio of 2.47 and a beta of 0.48.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. During the same quarter in the prior year, the business posted $0.42 earnings per share. Agree Realty’s revenue for the quarter was up 18.7% compared to the same quarter last year. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. Sell-side analysts anticipate that Agree Realty will post 4.44 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Agree Realty in a research report on Monday, June 1st. They issued a “buy” rating and a $84.00 price objective for the company. Barclays dropped their price objective on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 19th. Royal Bank Of Canada increased their price objective on shares of Agree Realty from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Truist Financial increased their price objective on shares of Agree Realty from $79.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Finally, BMO Capital Markets lowered shares of Agree Realty from an “outperform” rating to a “market perform” rating and set a $86.00 price objective for the company. in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Agree Realty presently has an average rating of “Moderate Buy” and a consensus target price of $83.80.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.