Agree Realty: Why I Bought The 5.3% Yielding Commons [Seeking Alpha]
Agree Realty Corporation (ADC)
Last agree realty corporation earnings: 4/20 06:15 am
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US:NYSE Investor Relations:
agreerealty.com/invest
Company Research
Source: Seeking Alpha
The retail REIT reported a 5.2% growth in fourth-quarter AFFO and covered its monthly cash dividend by 135%. ADC's portfolio consists of high-quality properties with a 99.8% occupancy rate and a significant portion of annualized base rent derived from investment grade retail tenants. I've been buying Agree Realty's ( NYSE: ADC ) common shares in response to continued weakness with shares down roughly 20% over the last year to change hands for 13.9x times its fiscal 2023 fourth quarter annualized AFFO. A year ago this multiple was 18x. The retail REIT reported fourth-quarter AFFO of $1 per share , growing by 5.2% over its year-ago comp. ADC last declared a monthly cash dividend of $0.2470 per share , this was kept unchanged from the prior month and $2.964 per share annualized for a 5.3% dividend yield. The REIT is covering its dividend by 135%, a 74% payout ratio, heightening the probability of a raise this year. The dividend yield at 5.3% has moved to a historical high and come
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ADC
News
- Agree Realty Co. (NYSE: ADC) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- 5 REITs In Focus: Delivering A Mixed Bag For Investors [Seeking Alpha]Seeking Alpha
- Agree Realty Corporation (NYSE:ADC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Agree Realty (ADC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Here's What Key Metrics Tell Us About Agree Realty (ADC) Q1 Earnings [Yahoo! Finance]Yahoo! Finance
ADC
Earnings
- 4/23/24 - Miss
ADC
Sec Filings
- 4/23/24 - Form 8-K
- 4/23/24 - Form 10-Q
- 4/12/24 - Form ARS
- ADC's page on the SEC website