Agree Realty Corporation (NYSE:ADC) Shares Will Pay Monthly Dividend of $0.27

Agree Realty Corporation (NYSE:ADC) announced a monthly dividend on Tuesday, November 10th. Investors of record on Monday, November 30th will be paid a dividend of $0.2710 per share by the real estate investment trust on Monday, December 14th. This represents a $3.25 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, November 30th.

Agree Realty has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 1 years. Agree Realty has a dividend payout ratio of 165.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Agree Realty to earn $4.67 per share next year, which means the company should continue to be able to cover its $3.25 annual dividend with an expected future payout ratio of 69.6%.

Agree Realty Stock Performance

NYSE:ADC traded down $0.97 during trading hours on Wednesday, reaching $68.91. The company had a trading volume of 60,178 shares, compared to its average volume of 1,365,704. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.55. Agree Realty has a 52 week low of $64.34 and a 52 week high of $82.08. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 3.11 and a beta of 0.40. The firm’s 50 day moving average price is $68.13 and its 200-day moving average price is $74.38.

Agree Realty (NYSE:ADC) last released its quarterly earnings results on Tuesday, October 20th. The real estate investment trust reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.68. The firm had revenue of $213.88 million for the quarter, compared to analysts’ expectations of $211.52 million. Agree Realty had a return on equity of 4.00% and a net margin of 29.75%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. On average, analysts forecast that Agree Realty will post 4.45 EPS for the current year.

Agree Realty Company Profile

Agree Realty Corporation is a real estate investment trust (REIT) focused on acquiring, developing and managing net-leased properties, primarily occupied by retail businesses. Its portfolio includes freestanding stores and other properties leased to national and regional retailers. Under net leases, tenants generally assume responsibility for property expenses such as taxes, insurance and maintenance, while Agree Realty owns the real estate and collects rent. The company’s properties are located across the United States.