Agree Realty Corporation
 (ADC)

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  • Mon, Jan. 4, 10:41 AM
    • After acquiring 73 retail net lease properties for about $220M last year - average cap rate of 8% and average remaining lease term of 12.2 years - Agree Realty (NYSE:ADC) guides to 2016 purchases of $175M-$200M.
    • The portfolio now stands at 277 properties in 41 states totaling 5.2M square feet of gross leasable space.
    • Source: Press release
    | Mon, Jan. 4, 10:41 AM
  • Dec. 23, 2015, 9:55 AM
    • Seattle Genetics (SGEN +1.2%) and clinical collaborator Bristol-Myers Squibb (BMY +0.3%) announce the initiation of a Phase 1/2 trial assessing the combination of ADCETRIS (brentuximab vedotin) and Opdivo (nivolumab) in patients with CD30-expressing relapsed/refractory B-cell or T-cell non-Hodgkin lymphomas, including diffuse large B-cell lymphoma, peripheral T-cell lymphoma and cutaneous T-cell lymphoma.
    • The 120-subject study is the second of two trials under the companies' previously announced clinical trial collaboration. The Phase 1 portion will assess the optimal dose of the combination. The Phase 2 portion will expand enrollment to treat disease-specific cohorts at the recommended dose and treatment schedule. The primary endpoints are safety, tolerability and overall response rate at month 8 following the last dose.
    • According to clinicaltrials.gov, the estimated final data collection date for the primary endpoints is November 2017. The estimated study completion date is November 2018.
    • ADCETRIS is an antibody-drug conjugate (NYSE:ADC) consisting of an anti-CD30 monoclonal antibody attached to microtubule disrupting agent, monomethyl auristatin E (MMAE). The linker system it uses is designed to be stable in the bloodstream but releases MMAE when it binds to CD30-expressing cancer cells.
    • Opdivo is an programmed death receptor-1 (PD-1) immune checkpoint inhibitor that activates the immune system's T cells to detect and attack cancer cells.
    | Dec. 23, 2015, 9:55 AM
  • Dec. 7, 2015, 4:05 PM
    • Agree Realty (NYSE:ADC) launches a 1.5M share secondary offering that could rise another 225K shares if the underwriters exercise their greenshoe option.
    • Source: Press Release
    • Shares -1% after hours
    | Dec. 7, 2015, 4:05 PM
  • Dec. 1, 2015, 4:40 PM
    • Agree Realty (NYSE:ADC) declares $0.465/share quarterly dividend, in line with previous.
    • Forward yield 5.51%
    • Payable Jan. 5; for shareholders of record Dec. 22; ex-div Dec. 18.
    | Dec. 1, 2015, 4:40 PM
  • Nov. 9, 2015, 8:47 AM
    • The agreement with Meridian Restaurants will be for the development of up to ten Burger Kings in regions where Meridian currently operates. Agree (NYSE:ADC) will have the opportunity to acquire and provide build-to-suit financing to Meridian for the construction.
    • This deal follows one from a year ago in which Agree acquired a portfolio of 11 BKs in a $15.2M sale-leaseback agreement from Meridian.
    • Meridian is a franchise operator of 80 Burger Kings in AZ, UT, MT, WY, ND, and MN.
    | Nov. 9, 2015, 8:47 AM
  • Oct. 26, 2015, 4:22 PM
    • Q3 AFFO of $11.133M or $0.60 per share vs. $8.434M and $0.56 one year ago.
    • Rental revenue up 32.8% Y/Y to $16.7M. Dividend was $0.465.
    • Acquired 15 retail net lease properties for about $36.9M; sold four properties for $19.8M.
    • Portfolio of 263 properties in 41 states totaling 4.8M square feet. Portfolio is 99.5% leased with average remaining lease term of 11.8 years.
    • Conference call tomorrow at 9 ET
    • Previously: Agree Realty FFO in-line, misses on revenue (Oct. 26)
    • ADC flat after hours
    | Oct. 26, 2015, 4:22 PM
  • Oct. 26, 2015, 4:06 PM
    • Agree Realty (NYSE:ADC): Q3 FFO of $0.61 in-line.
    • Revenue of $17.85M (+29.7% Y/Y) misses by $0.2M.
    | Oct. 26, 2015, 4:06 PM
  • Oct. 1, 2015, 4:13 PM
    • For the nine months ended Sept. 30, Agree Realty (NYSE:ADC) acquired 59 net lease properties for a total purchase price of $160.1M. The properties are leased to 32 tenants across 19 sectors and 21 states.
    • The weighted-average cap rate of the buys was 8%, and the weighed-average remaining lease term is 12.6 years.
    • The company also purchased two Orlando land parcels for development of a convenience store with fuel. The project is pre-leased for 20 years, with rent slated to start in Q3 next year.
    | Oct. 1, 2015, 4:13 PM
  • Sep. 15, 2015, 4:04 PM
    • Agree Realty (NYSE:ADC) declares $0.465/share quarterly dividend, in line with previous.
    • Forward yield 6.44%
    • Payable Oct. 13; for shareholders of record Sept. 30; ex-div Sept. 28.
    | Sep. 15, 2015, 4:04 PM
  • Sep. 2, 2015, 4:07 PM
    • Ferris Commons is a 173.6K square foot shopping center located in Big Rapids, Michigan developed by Agree Realty (NYSE:ADC) in 1990. With the sale, Agree's annualized base rental income attributed to its four remaining shopping centers is cut to 4.7% from 6.3%. Portfolio occupancy is boosted to 99.5%.
    • Agree boosts its 2015 disposition guidance to $40M-$50M, with anticipated sales to include select net lease assets along with non-core shopping centers. Roughly $15M of property has been sold YTD (including this sale).
    | Sep. 2, 2015, 4:07 PM | 2 Comments
  • Jul. 27, 2015, 4:13 PM
    • Agree Realty (NYSE:ADC): Q2 FFO of $0.62 beats by $0.02.
    • Revenue of $17.22M (+33.5% Y/Y) beats by $0.32M.
    | Jul. 27, 2015, 4:13 PM | 4 Comments
  • Jul. 1, 2015, 4:11 PM
    • Agree (NYSE:ADC) acquired 44 net lease properties for an aggregate purchase price of $123.2M. The properties are leased to 27 tenants across 17 sectors and 18 states. The weighted-average cap rate of the deals was 8%, and the remaining average lease term is 12.7 years.
    • The company has now surpassed $500M of purchases since the start of its acquisition platform five years ago.
    | Jul. 1, 2015, 4:11 PM
  • Jun. 16, 2015, 4:31 PM
    • The portfolio of 11 retail properties includes a BJ's Wholesale Club, an IHOP, a KeyBank, and an asset leased to PetSmart, Staples, and Party City. The deal was the 2nd component of a transaction that also included the H-E-B grocery store.
    • The deals have a weighted-average cap rate of 8.5% and a weighted-average remaining lease term of 10.4 years.
    • Agree (NYSE:ADC) currently holds a portfolio of 248 properties located in 41 states with about 4.9M square feet of leasable space.
    | Jun. 16, 2015, 4:31 PM
  • May 4, 2015, 4:22 PM
    • Agree Realty (NYSE:ADC) declares $0.465/share quarterly dividend, 3.3% increase from prior dividend of $0.450.
    • Forward yield 5.98%
    • Payable July 14; for shareholders of record June 30; ex-div June 26.
    | May 4, 2015, 4:22 PM
  • Apr. 27, 2015, 4:10 PM
    • Agree Realty (NYSE:ADC): Q1 FFO of $0.56 misses by $0.01.
    • Revenue of $15.75M (+25.2% Y/Y) beats by $0.11M.
    | Apr. 27, 2015, 4:10 PM
  • Apr. 9, 2015, 3:24 PM
    • A weak 30-year bond auction has long-term Treasury yields on the move higher, with the 10-year up five basis points to 1.96%. One also can't help but notice a recent uptick in capital raising among the equity REITs.
    • Realty Income (O -2.2%), Agree Realty (ADC -2.2%), Omega Healthcare (OHI -4%), Medical Properties Trust (MPW -2.5%), W.P. Carey (WPC -2.2%), Duke Realty (DRE -2.5%), Essex Property (ESS -2.9%), Aimco (AIV -3%), Simon Property (SPG -2.4%), Kimco (KIM -2.9%), Inland Real Estate (IRC -3%), DDR Corp (DDR -2.3%), Sovran Self Storage (SSS -2.2%), Washington Real Estate (WRE -4%), Digital Realty Trust (DLR -2%), Hospitality Properties (HPT -2.6%), Ashford Hospitality (AHT -2.4%), Stag Industrial (STAG -4.6%), American Campus (ACC -2.3%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    • Previously: Treasury yields on the rise after weak 30-year auction (April 9)
    | Apr. 9, 2015, 3:24 PM | 37 Comments
Company Description
Agree Realty Corp is engaged in fully-integrated, self-administered and self-managed REIT. It is focused on the ownership, development, acquisition and management of retail properties net leased to national tenants.
Sector: Financial
Country: United States