Agree Realty Corporation (ADC) To Go Ex-Dividend on March 31st

Agree Realty Corporation (NYSE:ADC) declared a monthly dividend on Tuesday, March 10th. Shareholders of record on Tuesday, March 31st will be given a dividend of 0.262 per share by the real estate investment trust on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, March 31st.

Agree Realty has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Agree Realty has a payout ratio of 159.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 $3.14 annual dividend with an expected future payout ratio of 70.2%.

Agree Realty Stock Performance

NYSE:ADC opened at $79.76 on Thursday. The stock’s 50-day moving average is $75.39 and its 200-day moving average is $73.69. Agree Realty has a 1-year low of $68.98 and a 1-year high of $82.08. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.54. The stock has a market cap of $9.57 billion, a P/E ratio of 45.06, a price-to-earnings-growth ratio of 3.13 and a beta of 0.52.

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.