Agree Realty Co. to Issue Feb 25 Dividend of $0.25 (NYSE:ADC)

Agree Realty Co. (NYSE:ADC) announced a feb 25 dividend on Thursday, February 6th,RTT News reports. Investors of record on Friday, February 28th will be paid a dividend of 0.253 per share by the real estate investment trust on Friday, March 14th.

Agree Realty has increased its dividend by an average of 7.6% per year over the last three years. Agree Realty has a dividend payout ratio of 155.1% meaning 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 Stock Performance

Shares of Agree Realty stock opened at $73.12 on Friday. The business has a fifty day simple moving average of $72.19 and a two-hundred day simple moving average of $73.29. The firm has a market capitalization of $7.57 billion, a P/E ratio of 40.40, a P/E/G ratio of 2.56 and a beta of 0.65. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Agree Realty has a 12 month low of $54.28 and a 12 month high of $78.39.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $79.00 price target on shares of Agree Realty in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft started coverage on Agree Realty in a report on Wednesday, December 11th. They set a “buy” rating and a $88.00 price target for the company. Citizens Jmp downgraded shares of Agree Realty from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Wells Fargo & Company decreased their target price on shares of Agree Realty from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, BTIG Research increased their price target on shares of Agree Realty from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.