Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange under the symbol "ADC".
IPO Year:
Exchange: NYSE
Website: agreerealty.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/31/2024 | $60.00 | Neutral | UBS |
| 2/13/2024 | $69.00 | Outperform | BMO Capital Markets |
| 1/22/2024 | $71.00 | Mkt Perform → Mkt Outperform | JMP Securities |
| 12/13/2023 | $64.00 | Outperform → Neutral | Exane BNP Paribas |
| 12/11/2023 | $67.00 → $61.00 | Buy → Neutral | Mizuho |
| 9/21/2023 | $70.00 | Overweight | Wells Fargo |
| 6/22/2023 | $70.00 | Neutral → Buy | Mizuho |
| 6/14/2023 | $80.00 | Outperform | Exane BNP Paribas |
| 3/21/2023 | Mkt Outperform → Mkt Perform | JMP Securities | |
| 6/23/2022 | $78.00 | Outperform | Credit Suisse |
8-K - AGREE REALTY CORP (0000917251) (Filer)
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8-K - AGREE REALTY CORP (0000917251) (Filer)
424B5 - AGREE REALTY CORP (0000917251) (Filer)
424B5 - AGREE REALTY CORP (0000917251) (Filer)
10-Q - AGREE REALTY CORP (0000917251) (Filer)
8-K - AGREE REALTY CORP (0000917251) (Filer)
8-K - AGREE REALTY CORP (0000917251) (Filer)
8-K - AGREE REALTY CORP (0000917251) (Filer)
8-K - AGREE REALTY CORP (0000917251) (Filer)
ROYAL OAK, Mich., Nov. 12, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.253 per common share. The monthly dividend reflects an annualized dividend amount of $3.036 per common share, representing a 2.4% increase over the annualized dividend amount of $2.964 per common share from the fourth quarter of 2023. The dividend is payable December 13, 2024 to stockholders of record at the close of business on November 29, 2024. Additionally
Raises 2024 Acquisition Guidance to Approximately $850 MillionCapital Markets Activities Drive Record Liquidity of Over $1.9 Billion ROYAL OAK, Mich., Oct. 22, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced results for the quarter ended September 30, 2024. All per share amounts included herein are on a diluted per common share basis unless otherwise stated. Third Quarter 2024 Financial and Operating Highlights: Invested approximately $237 million in 93 retail net lease propertiesCommenced eight development or Developer Funding Platfor
Increase Results in 2.4% Year-Over-Year Growth and Annualized Dividend of $3.036 Per Share ROYAL OAK, Mich., Oct. 10, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.253 per common share, representing a 1.2% month-over-month increase. The monthly dividend reflects an annualized dividend amount of $3.036 per common share, representing a 2.4% increase over the annualized dividend amount of $2.964 per common share from the fourth quarter of 2023. The dividend is payable November 14, 2024 to stockholders of record at the close of business on October 31
ROYAL OAK, Mich., Oct. 1, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that it will release its third quarter 2024 operating results after the market closes on Tuesday, October 22, 2024. A conference call to discuss the Company's operating results is scheduled for Wednesday, October 23, 2024 at 9:00 AM ET. Interested parties and shareholders may access the call via teleconference or webcast: Teleconference: USA Toll Free (800) 836-8184 International (646) 357-8785 Webcast: https://app.webinar.net/ROZ0gRpd4qw To participate
ROYAL OAK, Mich., Sept. 10, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.250 per common share. The monthly dividend reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the annualized dividend amount of $2.916 per common share from the third quarter of 2023. The dividend is payable October 15, 2024 to stockholders of record at the close of business on September 30, 2024. Additionally,
ROYAL OAK, Mich., Aug. 13, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.250 per common share. The monthly dividend reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the annualized dividend amount of $2.916 per common share from the third quarter of 2023. The dividend is payable September 16, 2024 to stockholders of record at the close of business on August 30, 2024. Additionally, th
ROYAL OAK, Mich., July 11, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.250 per common share. The monthly dividend reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the annualized dividend amount of $2.916 per common share from the third quarter of 2023. The dividend is payable August 14, 2024 to stockholders of record at the close of business on July 31, 2024. Additionally, the Com
ROYAL OAK, Mich., July 2, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that it will release its second quarter 2024 operating results after the market closes on Tuesday, July 23, 2024. A conference call to discuss the Company's operating results is scheduled for Wednesday, July 24, 2024 at 9:00 AM ET. Interested parties and shareholders may access the call via teleconference or webcast: Teleconference: USA Toll Free (800) 836-8184 International (646) 357-8785 Webcast: https://app.webinar.net/7yJ2R2LWdja To participate, please dial-in
ROYAL OAK, Mich., June 11, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.250 per common share. The monthly dividend reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the annualized dividend amount of $2.916 per common share from the second quarter of 2023. The dividend is payable July 15, 2024 to stockholders of record at the close of business on June 28, 2024. Additionally, the Comp
ROYAL OAK, Mich., May 14, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.250 per common share. The monthly dividend reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the annualized dividend amount of $2.916 per common share from the second quarter of 2023. The dividend is payable June 14, 2024 to stockholders of record at the close of business on May 31, 2024. Additionally, the Compan
ROYAL OAK, Mich., Nov. 12, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.253 per common share. The monthly dividend reflects an annualized dividend amount of $3.036 per common share, representing a 2.4% increase over the annualized dividend amount of $2.964 per common share from the fourth quarter of 2023. The dividend is payable December 13, 2024 to stockholders of record at the close of business on November 29, 2024. Additionally
ROYAL OAK, Mich., Oct. 28, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that it has completed its public offering of 5,060,000 shares of its common stock, which includes the underwriters' full exercise of their option to purchase additional shares, pursuant to the forward sale agreements described below. Citigroup and Wells Fargo Securities acted as joint book-running managers for the offering. The Company has entered into forward sale agreements with Citibank, N.A. and Wells Fargo Bank, National Association (the "forward purchasers
ROYAL OAK, Mich., Oct. 24, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced the pricing of its public offering of 4,400,000 shares of its common stock at a public offering price of $74.00 per share in connection with the forward sale agreements described below. The Company also granted the underwriters a 30-day option to purchase up to an additional 660,000 shares of common stock. The offering was upsized from the previously announced offering size of 4,000,000 shares of common stock, and the offering is expected to close on or about October 28, 2024.
ROYAL OAK, Mich., Oct. 24, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that it commenced an underwritten public offering of 4,000,000 shares of its common stock in connection with the forward sale agreements described below. In connection with the offering, the Company expects to grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock. Citigroup and Wells Fargo Securities are acting as joint book-running managers for the offering. The Company expects to enter into forward sale agreemen
Raises 2024 Acquisition Guidance to Approximately $850 MillionCapital Markets Activities Drive Record Liquidity of Over $1.9 Billion ROYAL OAK, Mich., Oct. 22, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced results for the quarter ended September 30, 2024. All per share amounts included herein are on a diluted per common share basis unless otherwise stated. Third Quarter 2024 Financial and Operating Highlights: Invested approximately $237 million in 93 retail net lease propertiesCommenced eight development or Developer Funding Platfor
Increase Results in 2.4% Year-Over-Year Growth and Annualized Dividend of $3.036 Per Share ROYAL OAK, Mich., Oct. 10, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.253 per common share, representing a 1.2% month-over-month increase. The monthly dividend reflects an annualized dividend amount of $3.036 per common share, representing a 2.4% increase over the annualized dividend amount of $2.964 per common share from the fourth quarter of 2023. The dividend is payable November 14, 2024 to stockholders of record at the close of business on October 31
ROYAL OAK, Mich., Oct. 1, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that it will release its third quarter 2024 operating results after the market closes on Tuesday, October 22, 2024. A conference call to discuss the Company's operating results is scheduled for Wednesday, October 23, 2024 at 9:00 AM ET. Interested parties and shareholders may access the call via teleconference or webcast: Teleconference: USA Toll Free (800) 836-8184 International (646) 357-8785 Webcast: https://app.webinar.net/ROZ0gRpd4qw To participate
ROYAL OAK, Mich., Sept. 10, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.250 per common share. The monthly dividend reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the annualized dividend amount of $2.916 per common share from the third quarter of 2023. The dividend is payable October 15, 2024 to stockholders of record at the close of business on September 30, 2024. Additionally,
ROYAL OAK, Mich., Aug. 13, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.250 per common share. The monthly dividend reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the annualized dividend amount of $2.916 per common share from the third quarter of 2023. The dividend is payable September 16, 2024 to stockholders of record at the close of business on August 30, 2024. Additionally, th
Reduces Borrowing Cost by Five Basis Points and Extends Maturity to 2029 ROYAL OAK, Mich., Aug. 8, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced it has entered into a Fourth Amended and Restated Revolving Credit Agreement which increases its senior unsecured revolving credit facility (the "Credit Facility") to $1.25 billion. The Credit Facility includes an accordion option that allows the Company to request additional lender commitments up to a total of $2.0 billion. The Credit Facility will mature in August 2028 with Company options to extend the maturity date to August 2029.
Stifel analyst Simon Yarmak maintains Agree Realty (NYSE:ADC) with a Buy and raises the price target from $67.5 to $71.5.
Agree Realty (NYSE:ADC) reported quarterly Adjusted FFO of $1.04 per share which beat the analyst consensus estimate of $1.02 by 1.96 percent. This is a 6.12 percent increase over earnings of $0.98 per share from the same period last year. The company reported quarterly sales of $152.575 million which beat the analyst consensus estimate of $147.854 million by 3.19 percent. This is a 17.46 percent increase over sales of $129.900 million the same period last year.
During the last three months, 4 analysts shared their evaluations of Agree Realty (NYSE:ADC), revealing diverse outlooks from bullish to bearish. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 1 3 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 0 1 1 0 0 3M Ago 0 0 1 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $64.25, a high estimate of $68.00, and a low estimat
UBS analyst Michael Goldsmith maintains Agree Realty (NYSE:ADC) with a Neutral and raises the price target from $60 to $67.
Keybanc analyst Upal Rana initiates coverage on Agree Realty (NYSE:ADC) with a Overweight rating and announces Price Target of $68.
During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Below are the ratings of the most accurate analysts for three high-yielding stocks in the real estate sector. Agree Realty Corporation (NYSE:ADC) Dividend Yield: 4.94% Truist Securities analyst Ki
UBS analyst Michael Goldsmith initiates coverage on Agree Realty (NYSE:ADC) with a Neutral rating and announces Price Target of $60.
Agree Realty (NYSE:ADC) underwent analysis by 7 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish. The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 3 2 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 2 3 1 0 0 Analysts have set 12-month price targets for Agree Realty, revealing an average target of $64.79, a high estimate of $69.50, and a low estimate of $60.00. This current average represents a 2.32% decrease from the previous average pric
Mizuho analyst Haendel St. Juste maintains Agree Realty (NYSE:ADC) with a Neutral and raises the price target from $60 to $62.
UBS initiated coverage of Agree Realty with a rating of Neutral and set a new price target of $60.00
BMO Capital Markets initiated coverage of Agree Realty with a rating of Outperform and set a new price target of $69.00
JMP Securities upgraded Agree Realty from Mkt Perform to Mkt Outperform and set a new price target of $71.00
Exane BNP Paribas downgraded Agree Realty from Outperform to Neutral and set a new price target of $64.00
Mizuho downgraded Agree Realty from Buy to Neutral and set a new price target of $61.00 from $67.00 previously
Wells Fargo initiated coverage of Agree Realty with a rating of Overweight and set a new price target of $70.00
Mizuho upgraded Agree Realty from Neutral to Buy and set a new price target of $70.00
Exane BNP Paribas initiated coverage of Agree Realty with a rating of Outperform and set a new price target of $80.00
JMP Securities downgraded Agree Realty from Mkt Outperform to Mkt Perform
Credit Suisse initiated coverage of Agree Realty with a rating of Outperform and set a new price target of $78.00
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ROYAL OAK, Mich., Dec. 11, 2023 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that Linglong He will join the Company's Board of Directors (the "Board"), effective January 1, 2024. Ms. He is currently the Chief Leadership Advisor at Rocket Central, where she is responsible for executive leadership development for Rocket Companies, Inc. (NYSE:RKT). She co-founded Rocket Central and previously served as President and Chief Operating Officer. Prior to that role, Ms. He served as Chief Information Officer of Rocket Mortgage, one of the nation's
BLOOMFIELD HILLS, Mich., Sept. 13, 2021 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that Michael Judlowe has joined the Company's Board of Directors (the "Board"). Mr. Judlowe most recently spent the last 10 years at Jefferies Group, where he helped establish the Real Estate Equity Capital Markets practice, joining as Managing Director and subsequently being named Co-Head of Equity Capital Markets Americas in 2013. Additionally, he served as Chairman of the US Real Estate, Gaming and Lodging Investment Banking practice from June 2019 to
BLOOMFIELD HILLS, Mich., Aug. 11, 2021 /PRNewswire/ -- Agree Realty Corporation (NYSE:ADC) (the "Company") today announced that Simon Leopold has resigned from his positions as Executive Vice President, Chief Financial Officer and Secretary of the Company effective immediately. The Board of Directors also announced that it will commence a formal search, which will consider internal and external candidates, for a new Chief Financial Officer. Peter Coughenour, current Vice President, Corporate Finance who joined the Company in 2015, has been appointed to the position of inter
BLOOMFIELD HILLS, Mich., Feb. 22, 2021 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that effective immediately Ambassador John Rakolta Jr. has rejoined the Company's Board of Directors (the "Board"). Ambassador Rakolta served on the Company's Board from 2011 until his confirmation as United States Ambassador to the United Arab Emirates in September 2019. Mr. Rakolta currently serves as the Chairman of Walbridge, one of the country's largest construction companies. "We are extremely pleased to welcome John back to our Board of Directors," said Joey Agree, President and Chief Executive Officer. "His intellect, leadership, foresight and vision helped
BLOOMFIELD HILLS, Mich., Jan. 14, 2021 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.207 per common share. This represents the Company's inaugural monthly cash dividend. The new monthly dividend reflects an annualized dividend amount of $2.484 per common share, representing a 6.2% increase over the annualized dividend amount of $2.340 per common share from the first quarter of 2020. The dividend is payable February 12, 2021 to shareholders of record at the close of business on January 29, 2021. About Agree Realty Corporation Agree Realty Corporatio
BLOOMFIELD HILLS, Mich., Jan. 4, 2021 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced the launch of its RETHINK RETAIL initiative, new corporate website and collateral materials, as well as a transition to a monthly dividend. RETHINK RETAIL Initiative & New Corporate Website The Company's RETHINK RETAIL initiative seeks to challenge the misperceptions about the future of brick & mortar retail and further position the Company as a thought leader in the evolution of omni-channel retail. Included in the new website are 3-D animations, exclusive original content and unique insights into the changing retail landscape. The new website also includes enhanced
BLOOMFIELD HILLS, Mich., Dec. 3, 2020 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that Karen J. Dearing has joined the Company's Board of Directors (the "Board") and will serve as a member of the Company's Audit Committee. Ms. Dearing currently serves as the Chief Financial Officer, Secretary, Treasurer and Executive Vice President of Sun Communities, Inc. (NYSE: SUI) ("Sun Communities"), a position she has held since 2008. Prior to joining Sun Communities in 1998, Ms. Dearing had over seven years of experience as the Financial Controller of a privately-owned automotive supplier and over four years of experience as a certified public accountant w
BLOOMFIELD HILLS, Mich., Dec. 1, 2020 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today declared an increased quarterly cash dividend and provided an update on November rent collections. Fourth Quarter 2020 Dividend The Board of Directors has authorized, and the Company has declared, a quarterly cash dividend of $0.620 per common share. This is the Company's 107th consecutive cash dividend and represents a 3.3% increase over the previous quarterly dividend and a 6.0% increase over the quarterly dividend declared in the fourth quarter of 2019. The dividend is payable January 6, 2021 to shareholders of record at the close of business on December 23, 2020. Novem