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

Agree Realty Corporation (NYSE:ADC - Get Free Report) announced a jul 25 dividend on Thursday, July 10th, RTT News reports. Shareholders of record on Tuesday, July 22nd will be given a dividend of 0.256 per share by the real estate investment trust on Friday, August 1st.

Agree Realty has a 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. Equities 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 up $0.62 on Friday, reaching $71.60. 2,127,586 shares of the company's stock traded hands, compared to its average volume of 1,103,240. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.54. The stock has a 50-day simple moving average of $74.20 and a 200-day simple moving average of $73.94. The firm has a market cap of $7.88 billion, a PE ratio of 40.45, a P/E/G ratio of 2.32 and a beta of 0.54. Agree Realty has a 12 month low of $64.10 and a 12 month high of $79.65.

Agree Realty (NYSE:ADC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.01. Agree Realty had a return on equity of 3.66% and a net margin of 30.05%. The firm had revenue of $169.16 million for the quarter, compared to analysts' expectations of $167.77 million. During the same period in the previous year, the firm posted $0.43 earnings per share. Equities research analysts forecast that Agree Realty will post 4.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ADC shares. Stifel Nicolaus lifted their target price on Agree Realty from $81.00 to $82.50 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Wall Street Zen cut Agree Realty from a "hold" rating to a "sell" rating in a report on Sunday. Robert W. Baird lifted their target price on Agree Realty from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Morgan Stanley cut Agree Realty from an "overweight" rating to an "equal weight" rating and set a $75.00 target price on the stock. in a report on Friday. Finally, Evercore ISI lifted their target price on Agree Realty from $82.00 to $83.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.54.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Agree Realty stock. Jane Street Group LLC raised its holdings in shares of Agree Realty Corporation (NYSE:ADC - Free Report) by 268.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,365 shares of the real estate investment trust's stock after buying an additional 19,948 shares during the period. Jane Street Group LLC's holdings in Agree Realty were worth $2,112,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 97.83% of the company's stock.

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.