Agree Realty Corporation (ADC) - NYSE
  • Mon, Jul. 25, 4:42 PM
    • Q2 adjusted FFO of $13.7M or $0.61 per share vs. $11M and $0.62 one year ago. Rental revenue up 23.6% to $19.9M. Company raised $110M during quarter with sale of 2.9M shares.
    • $153.5M invested in 36 retail net lease properties during quarter. Portfolio consists of 326 properties in 42 states totaling 6.3M square feet. 99.6% leased as of June 30. Walgreen is first, accounting for 14.1% of base rent, followed by Wal-Mart at 4.9%, then Lowe's at 3.6%.
    • Full-year acquisition outlook remains at $250-$275M.
    • Conference call at 11 ET
    • Previously: Agree Realty FFO in-line, beats on revenue (July 25)
    • ADC flat after hours
    | Mon, Jul. 25, 4:42 PM
  • Mon, Jul. 25, 4:07 PM
    • Agree Realty (NYSE:ADC): Q2 FFO of $0.61 in-line.
    • Revenue of $21.84M (+26.8% Y/Y) beats by $0.5M.
    • Press Release
    | Mon, Jul. 25, 4:07 PM
  • Sun, Jul. 24, 5:35 PM
    | Sun, Jul. 24, 5:35 PM | 5 Comments
  • Thu, Jul. 7, 1:40 PM
    • The hot-handed (up about 70% since Labor Day) finds a sell-side friend in Stifel's Simon Yarmak, who initiates coverage with a Buy rating and $54 price target (vs. current $48.81).
    • One of just a small handful of pure-play net-lease retail REITs, Agree's AFFO, he says, has a compounded annual growth rate of 8.2% from 2014-2017E. That places it third in the REIT sector, where the average CAGR is 6.4%.
    • ADC -0.15% in today's session.
    | Thu, Jul. 7, 1:40 PM | 1 Comment
  • Thu, Jul. 7, 2:00 AM
    • Agree Realty (NYSE:ADC) announces $100M long-term unsecured debt financing.
    • $40M, a part of $100M loan matures on July 1, 2023 with interest rate based on a pricing grid over LIBOR. However, interest rate is expected to be fixed at 3.05%. Accordion option allows the company to request additional lender commitments up to $75M.
    • $60M private senior unsecured notes mature in July 2028, bearing interest rate of 4.42%. Closing and funding of the new private placement is expected to be on July 28, 2016, subject to certain conditions.
    | Thu, Jul. 7, 2:00 AM
  • Tue, May 31, 11:41 AM
    • Noting the company's boosted acquisition guidance from earlier this month and a $110M capital raise to help fund said guidance, Jefferies George Hoglund boosts his price target on Buy-rated Agree Realty (ADC -0.2%) to $47 from $45. The current price is $42.30.
    • That capital raise could be dilutive in the near-term, though, as most of the company's pending purchases aren't expected to close until late this quarter or next, and won't start hitting the bottom line until 2017.
    | Tue, May 31, 11:41 AM
  • Tue, May 10, 4:17 PM
    • After the underwriters exercised their full greenshoe option, Agree Realty's (NYSE:ADC) 2.875M share secondary raised net proceeds of roughly $109.6M.
    • The immediate use of the funds will be to pay down the company revolving line of credit, fund property purchases, and general working capital.
    • Source: Press Release
    | Tue, May 10, 4:17 PM
  • Mon, May 2, 4:41 PM
    • Agree Realty Corporation (NYSE:ADC) declares $0.48/share quarterly dividend, 3.2% increase from prior dividend of $0.465.
    • Forward yield 4.86%
    • Payable July 15; for shareholders of record June 30; ex-div June 28.
    | Mon, May 2, 4:41 PM
  • Mon, Apr. 25, 4:46 PM
    • Q1 adjusted FFO of $12.7M or $0.61 per share vs. $10.1M and $0.57 a year ago.
    • Total rental revenue of $18.7M up 28.2% Y/Y. Acquisition volume during quarter of $33.3M.
    • Portfolio consists of 291 properties in 42 stats totaling 5.4M square feet; 99.5% leased with weighted-average remaining lease term of about 11.2 years. Top tenant is Walgreens accounting for 16.5% of base rent. Wal-Mart is number two at 5.2%, followed by Wawa and CVS at 3.3% each.
    • The full-year acquisition volume outlook remains at $175M-$200M.
    • Conference call tomorrow at 9 ET
    • Previously: Agree Realty EPS in-line, beats on revenue (April 25)
    • ADC flat after hours
    | Mon, Apr. 25, 4:46 PM
  • Mon, Apr. 25, 4:07 PM
    • Agree Realty (NYSE:ADC): Q1 FFO of $0.61 in-line.
    • Revenue of $20.22M (+28.5% Y/Y) beats by $0.17M.
    • Press Release
    | Mon, Apr. 25, 4:07 PM
  • Sun, Apr. 24, 5:35 PM
    | Sun, Apr. 24, 5:35 PM | 13 Comments
  • Fri, Apr. 8, 11:32 AM
    • The total return of the FTSE NAREIT All REITs Index was 9.99% in March and 5.86% in Q1, significantly outpacing that of the S&P 500 at 6.78% and 1.35%, respectively.
    • The FTSE NAREIT All Equity REITs Index gained 10.17% in March and 5.84% for the quarter. The mortgage REIT gauge advanced 4.48% and 1.28%.
    • Leading the way were free-standing retail REITs - think Realty Income (NYSE:O), National Retail Properties (NYSE:NNN), Spirit Realty (NYSE:SRC), Agree Realty (NYSE:ADC), and Store Capital (NYSE:STOR) - with a total return of 18.69% in Q1.
    • At quarter's end, the All REITs Index dividend yield was 4.19% vs. the S&P 500 at 2.15%.
    • ETFs: VNQ, IYR, DRN, RQI, URE, SCHH, ICF, RWR, SRS, RNP, RFI, JRS, KBWY, NRO, DRV, RIT, RIF, REK, FRI, DRA, FTY, FREL, LRET, PSR, WREI, XLRE, IARAX
    | Fri, Apr. 8, 11:32 AM | 3 Comments
  • Thu, Mar. 3, 4:10 PM
    • Q4 adjusted FFO of $11.6M or $0.60 per share vs. $9.1M and $0.58 one year ago. Full-year AFFO of $2.38 per share vs. $2.22 in 2014.
    • 14 properties acquired during quarter for $60M; Full-year acquisitions of 74 properties for $225.9M. $92.3M raised during year from the sale of 3M shares. $100M private placement of senior unsecured notes.
    • Year-end portfolio of 278 properties in 41 states totaling 5.2M square feet. Portfolio was 99.5% leased, with average remaining lease term of about 11.4 years.
    • Outlook for $175M-$200M of acquisition volume in 2016.
    • Conference call tomorrow at 9 ET
    • Previously: Agree Realty FFO in-line, beats on revenue (March 3)
    • ADC flat after hours
    | Thu, Mar. 3, 4:10 PM | 3 Comments
  • Thu, Mar. 3, 4:04 PM
    • Agree Realty (NYSE:ADC): Q4 FFO of $0.60 in-line.
    • Revenue of $19.15M (+33.7% Y/Y) beats by $0.68M.
    • Press Release
    | Thu, Mar. 3, 4:04 PM
  • Tue, Mar. 1, 4:21 PM
    • Agree Realty (NYSE:ADC) declares $0.465/share quarterly dividend, in line with previous.
    • Forward yield 4.95%
    • Payable April 15; for shareholders of record March 31; ex-div March 29.
    | Tue, Mar. 1, 4:21 PM
  • 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.
    | Mon, Jan. 4, 10:41 AM
Company Description
Agree Realty Corp. is a real estate investment trust, which focuses on the ownership, development, acquisition and management of retail properties net leased to national tenants. It specializes in acquiring and developing net leased retail properties for industry leading retail tenants. The... More
Sector: Financial
Industry: Property Management
Country: United States