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Agree Realty Corporation (ADC)

- NYSE
  • Mon, May 4, 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.
    | Comment!
  • Mon, Apr. 27, 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.
    • Press Release
    | Comment!
  • Thu, Apr. 9, 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)
    | 37 Comments
  • Tue, Mar. 31, 4:10 PM
    • The properties are net leased to five different tenants operating in three different retail sectors operating in seven states. The purchases have a weighted-average cap rate of 8.31% and a weighted-average remaining lease term of 17.8 years.
    • Agree (NYSE:ADC) reaffirms its 2015 targeted acquisition volume of $175M-$200M. In Q1, the company purchased 25 properties for $59.7M.
    • Source: Press Release
    | Comment!
  • Tue, Mar. 24, 10:21 AM
    • Started at Outperform are Agree Realty (ADC +0.4%), DDR (DDR -0.7%), Excel Trust (EXL +0.1%), Kite Realty (KRG), Retail Opportunity Investments (ROIC -0.3%), and Store Capital (STOR +0.9%).
    • Initiated at Neutral are Kimco (KIM -0.3%), National Retail Properties (NNN -0.3%), Ramco-Gershenshon (RPT -0.3%), Realty Income (O -0.5%), Regency Centers (REG -0.2%), and Spirit Realty (SRC -0.7%).
    | Comment!
  • Mon, Mar. 9, 4:16 PM
    • The total purchase price for the 15 retail properties was $42.1M. They're net leased to 12 different tenants in 9 diverse retail sectors in 10 states. The weighted-average cap rate was 8.08% and the weighted-average lease term in about 11 years.
    • Included in the buys are Agree's (NYSE:ADC) first Bed, Bath & Beyond, Old Navy, and Dress Barn stores. The company is on-track to hits its 2015 targeted acquisition volume of $175M-$200M.
    • Source: Press Release
    | Comment!
  • Fri, Mar. 6, 10:31 AM
    • Equity REITs are facing some competition as the 10-year Treasury yield has popped all the way to 2.24% (up 11 bps on the session) following the strong jobs report which saw 295K jobs added in February and the unemployment rate dropping to 5.5%.
    • Checking short-term interest rate futures, they're falling (meaning higher rates), but still not pricing in a rate hike until late summer.
    • The iShares U.S. Real Estate ETF (IYR -2.3%).
    • Realty Income (O -3.7%), National Retail Properties (NNN -3.9%), Agree Realty (ADC -3.1%), Omega Heathcare (OHI -4.5%), Health Care REIT (HCN -3.5%), Ventas(VTR -3.7%), HCP (HCP -3.6%), Medical Properties (MPW -4%), Healthcare Trust (HTA -4%), AvalonBay (AVB -2.7%), Essex Property (ESS -2.3%), Simon Property (SPG -2.3%), General Growth (GGP -2.2%), Kimco (KIM -2.9%), Inland Real Estate (IRC -2.9%), DDR (DDR -2.7%), Federal Realty Investment (FRT -2.6%), Public Storage (PSA -2%), Sovran Self Storage (SSS -2.7%), Boston Properties (BXP -2.8%), First Potomac (FPO -3.2%), Digital Realty Trust (DLR -1.9%), Hospitality Properties (HT -2.1%), Ashford (AHT -2.7%), STAG Industrial (STAG -3%), American Campus (ACC -2.9%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    • Previously: Dollar and Treasury yields spike after strong jobs print (March 6)
    | 62 Comments
  • Thu, Mar. 5, 4:42 PM
    • Agree Realty (NYSE:ADC) declares $0.45/share quarterly dividend, in line with previous.
    • Forward yield 5.45%
    • Payable April 14; for shareholders of record March 31; ex-div March 27.
    | Comment!
  • Mon, Feb. 23, 4:56 PM
    • Q4 adjusted FFO of $9.1M or $0.58 per share vs. $8.1M and $0.57 one year ago.
    • Portfolio consists of 209 properties in 37 states totaling 4.3M square feet of gross leasable space. Retail net lease properties contributed about 91.6% of base rent. The remainder is from community shopping centers.
    • Portfolio is about 98.6% leased with a weighted-average lease term of about 11.9 years. The top tenant is Walgreens which accounts for 21.9% of base rent.
    • Conference call tomorrow at 9 ET.
    • Previously: Agree Realty FFO in-line, beats on revenue (Feb. 23)
    • ADC flat after hours
    | Comment!
  • Mon, Feb. 23, 4:03 PM
    • Agree Realty (NYSE:ADC): Q4 FFO of $0.58 in-line.
    • Revenue of $14.32M (+22.2% Y/Y) beats by $0.12M.
    • Press Release
    | Comment!
  • Mon, Jan. 5, 4:17 PM
    • With the recent closing on 14 retail net lease properties for about $35.5M, Agree's (NYSE:ADC) total acquisition volume in Q4 was a record $71.9M. The properties have a weighted-average cap rate of about 8.1% and a weighted-average remaining lease term of roughly 15.3 years.
    • Total 2014 acquisition volume of 77 assets and $147.5M was also a record.
    • Source: Press Release
    | Comment!
  • Dec. 4, 2014, 9:54 AM
    • Agree Realty (ADC -3.3%) slightly upsized the offering, selling 2.25M shares (vs. 2.1M originally planned) for gross proceeds of $66.8M, suggesting a price of $29.69 each.
    • Source: Press Release
    • Previously: Agree Realty offering 2.1M shares (Dec. 3, 2014)
    | 1 Comment
  • Dec. 3, 2014, 4:11 PM
    • The underwriter greenshoe is for another 315K shares.
    • Source: Press Release
    • ADC flat after-hours
    | Comment!
  • Dec. 2, 2014, 4:29 PM
    • Agree Realty Corporation (NYSE:ADC) declares $0.45/share quarterly dividend, 4.7% increase from prior dividend of $0.43.
    • Forward yield 5.82%
    • Payable Jan 6; for shareholders of record Dec. 23; ex-div Dec. 19.
    | 2 Comments
  • Nov. 24, 2014, 4:08 PM
    • The 22 retail net lease properties were purchased in three separate deals, and include a 14-property AutoZone portfolio, a 7-property Sonic restaurant portfolio, and a Dollar General Market.
    • The weighted-average cap rate is 8.02% and the weighted-average remaining lease term is about 15.1 years. The Q4 deal total is now up to $34.8M, and YTD Agree Realty (NYSE:ADC) has purchased 62 properties for $110.5M at a weighted-average cap rate of 8.16%.
    • Source: Press Release
    | Comment!
  • Oct. 27, 2014, 4:17 PM
    • Agree Realty (NYSE:ADC): Q3 FFO of $0.56 misses by $0.01.
    • Revenue of $13.75M (+22.0% Y/Y) beats by $0.47M.
    • Press Release
    | Comment!
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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