Agree Realty CorporationNYSE
Yesterday, 8:22 AM
Mon, Oct. 24, 4:05 PM
Sun, Oct. 23, 5:35 PM
Wed, Oct. 5, 4:12 PM
- Among them, Agree (NYSE:ADC) has begun redevelopment activities on a now-vacant Boynton Beach, FL property, and signed a new 15-year lease with a home improvement retailer to occupy the entire building upon completion. Total cost is $4.5M, and rent is expected to begin in Q3 of 2017.
- The company also closed on a 12.9 acre parcel in Georgetown, KY where it plans to develop a 30.7K square-foot building for Camping World. Total cost is $8.5M.
- Agree also recently closed on a land parcel in Hamilton, MT where construction has begun on a Burger King. Total cost is $1.5M.
Mon, Sep. 19, 7:16 AM
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, 4:07 PM
Sun, Jul. 24, 5:35 PM
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, 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.
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 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
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, 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, 4:07 PM
- Agree Realty (NYSE:ADC): Q1 FFO of $0.61 in-line.
- Revenue of $20.22M (+28.5% Y/Y) beats by $0.17M.
Sun, Apr. 24, 5:35 PM