Agree Realty Co. (ADC) to Issue Feb 25 Dividend of $0.25 on March 14th

Agree Realty Co. (NYSE:ADC) declared a feb 25 dividend on Thursday, February 6th,RTT News reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.253 per share by the real estate investment trust on Friday, March 14th. This represents a yield of 4.2%. The ex-dividend date of this dividend is Friday, February 28th.

Agree Realty has raised its dividend payment by an average of 7.6% annually over the last three years. Agree Realty has a payout ratio of 155.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Agree Realty to earn $4.29 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 70.9%.

Agree Realty Price Performance

Shares of ADC opened at $72.92 on Friday. The company has a 50 day moving average price of $72.10 and a 200-day moving average price of $73.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $7.55 billion, a PE ratio of 40.29, a PEG ratio of 2.56 and a beta of 0.65. Agree Realty has a fifty-two week low of $54.28 and a fifty-two week high of $78.39.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADC. Robert W. Baird upped their price objective on Agree Realty from $67.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Citizens Jmp cut shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Stifel Nicolaus reduced their price objective on shares of Agree Realty from $81.50 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Barclays decreased their target price on shares of Agree Realty from $76.00 to $74.00 and set an “underweight” rating for the company in a research report on Tuesday. Finally, UBS Group raised shares of Agree Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $79.00 to $84.00 in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $78.93.

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.