Last $31.11 USD
Change Today -0.27 / -0.86%
Volume 183.8K
ADC On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 3:57 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

agree realty corp (ADC) Snapshot

Open
$30.93
Previous Close
$31.38
Day High
$31.33
Day Low
$30.73
52 Week High
03/4/14 - $31.99
52 Week Low
04/21/14 - $26.58
Market Cap
556.4M
Average Volume 10 Days
132.9K
EPS TTM
$1.46
Shares Outstanding
17.9M
EX-Date
12/19/14
P/E TM
21.2x
Dividend
$1.80
Dividend Yield
5.59%
Current Stock Chart for AGREE REALTY CORP (ADC)

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agree realty corp (ADC) Details

Agree Realty Corporation, a real estate investment trust (REIT), engages in the ownership, development, acquisition, and management of retail properties, which are primarily leased to national and regional retail companies in the United States. As of December 31, 2009, its portfolio consisted of 73 properties, including 61 freestanding net leased properties and 12 community shopping centers located in 16 states containing approximately 3.5 million square feet of gross leasable area. The company has elected to be treated as a REIT under the Internal Revenue Code. As a REIT, the company is not subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its stockholders. Agree Realty Corporation was founded in 1971 and is headquartered in Farmington Hills, Michigan.

14 Employees
Last Reported Date: 03/7/14
Founded in 1971

agree realty corp (ADC) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $550.0K
Executive Chairman and Chairman of Executive ...
Total Annual Compensation: $150.0K
Executive Vice President
Total Annual Compensation: $287.8K
Compensation as of Fiscal Year 2013.

agree realty corp (ADC) Key Developments

Agree Realty Seeks Acquisitions

Agree Realty Corp. (NYSE:ADC) is looking for acquisition opportunities. Agree Realty commenced an underwritten public offering of 2.1 million of newly issued shares and intends to use the net proceeds of the offering to reduce amounts outstanding under its revolving credit facility, to fund property acquisitions and development activity, and for general corporate purposes.

Agree Realty Corp. Declares Fourth Quarter 2014 Common Stock Dividend, Payable on January 6, 2015

Agree Realty Corporation announced that its Board of Directors has declared a fourth quarter 2014 common stock dividend in the amount of $0.45 per share, an increase of 4.7% over the previous quarterly dividend. The dividend is payable January 6, 2015 to shareholders of record at the close of business on December 23, 2014.

Agree Realty Acquires 22 Net-Lease Properties

Agree Realty Corp. acquired 22 retail net-lease properties for an aggregate purchase price of approximately $19.5 million, in three separate transactions. The properties include a 14-property AutoZone portfolio, a seven-property Sonic restaurant portfolio and a Dollar General Market. The auto parts stores are in Alabama, Florida, Louisiana, Mississippi, South Carolina and Tennessee. All 14 stores are leased to AutoZone on an absolute net basis until Jan. 31, 2026. The Sonic restaurants are in Virginia, primarily in the Richmond metropolitan area. Six properties are subject to a master lease through Oct. 31, 2034, and one asset is leased until Oct. 31, 2025. The company also acquired a 26,000-square-foot discount grocery store in Red Bay, Ala. The property is under lease to Dollar General until Sept. 30, 2022. The company noted that the transactions were completed at a weighted-average cap rate of 8.02% and with a weighted-average remaining lease term of approximately 15.1 years. Year-to-date, the company has acquired 62 retail net-lease assets for an aggregate purchase price of $110.5 million. The properties were acquired at a weighted-average cap rate of 8.16% and with a weighted-average remaining lease term of approximately 14.3 years. The total acquisition volume to date for the fourth quarter is $34.8 million.

 

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