Last $28.27 USD
Change Today 0.00 / 0.00%
Volume 35.1K
ADC On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 3:23 PM 09/22/14 All times are local (Market data is delayed by at least 15 minutes).

agree realty corp (ADC) Snapshot

Open
$28.14
Previous Close
$28.27
Day High
$28.43
Day Low
$28.11
52 Week High
11/7/13 - $32.31
52 Week Low
04/21/14 - $26.58
Market Cap
422.9M
Average Volume 10 Days
77.6K
EPS TTM
$1.50
Shares Outstanding
15.0M
EX-Date
09/26/14
P/E TM
18.8x
Dividend
$1.72
Dividend Yield
5.93%
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
Vice President of Finance & Accounting
Total Annual Compensation: $209.8K
Compensation as of Fiscal Year 2013.

agree realty corp (ADC) Key Developments

Agree Realty Corp. Announces Cash Dividend for the Third Quarter of 2014, Payable on October 14, 2014

Agree Realty Corporation announced that its Board of Directors has declared its third quarter 2014 dividend for the company's common stock. Third quarter 2014 cash dividend of $0.43 per share. The third quarter 2014 common share dividend is payable October 14, 2014 to shareholders of record at the close of business on September 30, 2014.

Agree Realty Corp. Presents at BMO 9th Annual North American Real Estate Conference, Sep-15-2014 04:30 PM

Agree Realty Corp. Presents at BMO 9th Annual North American Real Estate Conference, Sep-15-2014 04:30 PM. Venue: Four Seasons Hotel, Chicago, Illinois, United States.

Agree Realty Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Impairment Charge for the Second Quarter Ended June 30, 2014

Agree Realty Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $12.9 million compared to $10.6 million a year ago. Income from operations was $4.6 million or $0.18 per basic and diluted share, compared to $5.9 million or $0.33 per basic and diluted share, a year ago. Income before discontinued operations was $2.72 million compared to $4.4 million a year ago. Net income was $2,716,000, or $0.18 per basic and diluted share, compared with $4,530,000, or $0.34 per basic and diluted share, for the comparable period in 2013. The primary driver of the variance was a $2,800,000 non-cash impairment taken against the company's Chippewa Commons shopping center as a result of Kmart, the property's anchor tenant, electing not extend its lease beyond its natural expiration on November 30, 2014. Net income attributable to the company was $2.65 million compared to $4.4 million a year ago. Funds from operations increased 19% to $8,092,000 compared with FFO of $6,804,000 for the comparable period in 2013. FFO per share increased 5.9% to $0.54 compared with FFO per share of $0.51 for the comparable period in 2013. Adjusted funds from operations increased 18% to $8,266,000 compared with AFFO of $6,996,000 for the comparable period in 2013. AFFO per share increased 5.8% to $0.55 compared with AFFO per share of $0.52 for the comparable period in 2013. For the six months, the company reported total revenues of $25.5 million compared to $20.53 million a year ago. Income from operations was $11.76 million or $0.53 per diluted share, compared to $11.6 million or $0.65 per basic and diluted share, a year ago. Income before discontinued operations was $8.09 million compared to $8.63 million a year ago. Net income was $8,226,000, or $0.55 per diluted share, compared with $9,921,000, or $0.75 per basic and diluted share, for the comparable period in 2013. The primary driver of the variance was the non-cash impairment taken against the company's Chippewa Commons shopping center. Net income attributable to the company was $8.04 million compared to $9.66 million a year ago. Diluted earnings per share were $0.54 against $0.75 a year ago. FFO increased 21% to $15,978,000 compared with FFO of $13,186,000 for the comparable period in 2013. FFO per share increased 6.0% to $1.06 compared with FFO per share of $1.00 for the comparable period in 2013. AFFO increased 22% to $16,367,000 compared with AFFO of $13,407,000 for the comparable period in 2013. AFFO per share increased 6.9% to $1.08 compared with AFFO per share of $1.01 for the comparable period in 2013. The company reported impairment charge for the second quarter ended June 30, 2014. For the quarter, the company reported impairment charge of $2.8 million, non-cash impairment taken against the company's Chippewa Commons shopping center as a result of Kmart, the property's anchor tenant, electing not extend its lease beyond its natural expiration on November 30, 2014.

 

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Industry Analysis

ADC

Industry Average

Valuation ADC Industry Range
Price/Earnings 22.2x
Price/Sales 8.6x
Price/Book 1.5x
Price/Cash Flow 15.4x
TEV/Sales 4.9x
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