Agree Realty Corporation (NYSE:ADC) Plans $0.26 Sep 25 Dividend

Key Points

• Agree Realty Corporation announced a quarterly dividend of $0.26 per share, to be distributed on October 14th to investors of record as of September 30th.
• The company's current dividend payout ratio stands at 155.8%, indicating it is relying on its balance sheet to cover the dividend until projected earnings improve.
• Agree Realty's stock opened at $72.27, reflecting a 0.5% decline, with a market capitalization of $8.00 billion.

Agree Realty Corporation (NYSE:ADC - Get Free Report) declared a sep 25 dividend on Tuesday, September 9th, RTT News reports. Investors of record on Tuesday, September 30th will be paid a dividend of 0.256 per share by the real estate investment trust on Tuesday, October 14th. This represents a dividend yield of 430.0%. The ex-dividend date is Tuesday, September 30th.

Agree Realty has a payout ratio of 155.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Agree Realty to earn $4.47 per share next year, which means the company should continue to be able to cover its $3.07 annual dividend with an expected future payout ratio of 68.7%.

Agree Realty Price Performance

NYSE:ADC traded down $0.09 during trading hours on Monday, hitting $73.01. 194,614 shares of the stock were exchanged, compared to its average volume of 1,159,852. The firm's fifty day moving average price is $72.70 and its 200 day moving average price is $74.32. Agree Realty has a 52-week low of $67.58 and a 52-week high of $79.65. The company has a market cap of $8.08 billion, a P/E ratio of 43.46, a P/E/G ratio of 2.44 and a beta of 0.56. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59.

Agree Realty (NYSE:ADC - Get Free Report) last announced its earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. Agree Realty had a return on equity of 3.47% and a net margin of 28.16%.The business had revenue of $175.53 million during the quarter, compared to analysts' expectations of $173.95 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The business's revenue was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, equities research analysts anticipate that Agree Realty will post 4.27 EPS for the current fiscal year.

About Agree Realty

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.