Agree Realty Corp
ADC
ISIN US0084921008 / Valor 190294
Agree Realty Corp
UMushroom community rating:
About company
Agree Realty Corp is a real estate investment trust that focuses on the acquisition and development of properties primarily leased to retail tenants. The company's portfolio consists of a diverse range of properties, including single tenant net lease retail properties, as well as multi-tenant retail properties. With a focus on long-term, triple net lease agreements, Agree Realty Corp aims to provide stable and growing income to its shareholders through a well-diversified portfolio of retail properties across the United States.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (22.12.2024):
Net Income Growth
Agree Realty Corp reported a net income of $42.5 million for the third quarter of 2024, marking a 7.2% increase from the $39.7 million reported in the same period of 2023. On a per-share basis, net income rose by 2.6% to $0.42, compared to $0.41 in the previous year.
Core FFO Increase
For the third quarter of 2024, Agree Realty Corp's Core Funds from Operations (Core FFO) increased by 6.8% to $102.9 million, up from $96.4 million in the third quarter of 2023. Core FFO per share also saw a rise of 2.2%, reaching $1.01 compared to $0.99 in the prior year.
AFFO Performance
Agree Realty Corp's Adjusted Funds from Operations (AFFO) for the third quarter of 2024 grew by 7.4% to $104.8 million, compared to $97.6 million in the same quarter of 2023. AFFO per share increased by 2.8%, reaching $1.03 from $1.00 in the previous year.
Dividend Announcement
During the third quarter of 2024, Agree Realty Corp declared monthly cash dividends of $0.250 per common share for July, August, and September. This reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the previous year's annualized dividend of $2.916 per share.
Revised Earnings Guidance
Agree Realty Corp has revised its full-year 2024 acquisition guidance to approximately $850 million, up from the previous estimate of $700 million. Additionally, the company raised the lower end of its 2024 AFFO per share guidance to a range of $4.12 to $4.14, reflecting confidence in its portfolio performance and investment activities.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
7704 M
Market cap (USD)
94,107
Daily traded volume (Shares)
71 / 70.1
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
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P/E ratio
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EPS (USD)
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Ratings & reviews
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