Agree Realty Corporation (ADC) To Go Ex-Dividend on June 30th

Agree Realty Corporation (NYSE:ADC) declared a quarterly dividend on Monday, June 8th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.267 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, June 30th.

Agree Realty has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Agree Realty has a dividend payout ratio of 162.4% indicating that 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 $3.20 annual dividend with an expected future payout ratio of 68.5%.

Agree Realty Price Performance

Shares of NYSE:ADC opened at $74.49 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a fifty day moving average price of $75.96 and a 200 day moving average price of $75.25. Agree Realty has a fifty-two week low of $69.56 and a fifty-two week high of $82.08. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 40.27, a P/E/G ratio of 2.46 and a beta of 0.48.

Agree Realty (NYSE:ADC) last issued its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Agree Realty had a net margin of 29.25% and a return on equity of 3.95%. The firm had revenue of $211.49 million during the quarter, compared to analyst estimates of $195.73 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. Agree Realty’s revenue for the quarter was up 18.7% on a year-over-year basis. Agree Realty has set its FY 2026 guidance at 4.540-4.580 EPS. As a group, sell-side analysts expect that Agree Realty will post 4.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADC. Citigroup upped their price target on shares of Agree Realty from $77.00 to $82.50 and gave the company a “neutral” rating in a research note on Friday, April 24th. Barclays decreased their price target on shares of Agree Realty from $86.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 19th. Wall Street Zen downgraded shares of Agree Realty from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Royal Bank Of Canada upped their price target on shares of Agree Realty from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Mizuho decreased their price target on shares of Agree Realty from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.80.

Agree Realty Company Profile

Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.

Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs.