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

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) announced a sep 25 dividend on Tuesday, September 9th, RTT News reports. Stockholders of record on Tuesday, September 30th will be given 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 of this dividend is Tuesday, September 30th.

Agree Realty has a dividend payout ratio of 155.8% 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 $4.47 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 Trading Down 0.9%

Shares of NYSE:ADC traded down $0.63 during trading on Friday, reaching $73.11. 790,499 shares of the company traded hands, compared to its average volume of 914,160. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 43.52, a P/E/G ratio of 2.46 and a beta of 0.56. Agree Realty has a 52-week low of $67.58 and a 52-week high of $79.65. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.59. The business's fifty day moving average is $72.70 and its 200-day moving average is $74.30.

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

Agree Realty Company Profile

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.