Agree Realty (ADC) Declares $0.24 Dividend

Agree Realty said on July 17, 2023 that its board of directors declared a regular monthly dividend of $0.24 per share ($2.92 annualized). Previously, the company paid $0.24 per share.

Shares must be purchased before the ex-div date of July 28, 2023 to qualify for the dividend. Shareholders of record as of July 31, 2023 will receive the payment on August 14, 2023.

At the current share price of $65.48 / share, the stock's dividend yield is 4.45%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.75%, the lowest has been 2.93%, and the highest has been 4.50%. The standard deviation of yields is 0.36 (n=236).

The current dividend yield is 1.94 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.72. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.22%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 861 funds or institutions reporting positions in Agree Realty. This is an increase of 57 owner(s) or 7.09% in the last quarter. Average portfolio weight of all funds dedicated to ADC is 0.37%, a decrease of 4.05%. Total shares owned by institutions decreased in the last three months by 0.78% to 114,209K shares. The put/call ratio of ADC is 0.71, indicating a bullish outlook.

Analyst Price Forecast Suggests 18.39% Upside

As of July 6, 2023, the average one-year price target for Agree Realty is 77.52. The forecasts range from a low of 70.70 to a high of $84.00. The average price target represents an increase of 18.39% from its latest reported closing price of 65.48.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Agree Realty is 508MM, an increase of 10.95%. The projected annual non-GAAP EPS is 1.70.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 6,563K shares representing 7.04% ownership of the company. In it's prior filing, the firm reported owning 5,823K shares, representing an increase of 11.28%. The firm increased its portfolio allocation in ADC by 7.62% over the last quarter.

Principal Financial Group holds 5,796K shares representing 6.22% ownership of the company. In it's prior filing, the firm reported owning 5,715K shares, representing an increase of 1.40%. The firm decreased its portfolio allocation in ADC by 47.16% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 3,893K shares representing 4.18% ownership of the company. In it's prior filing, the firm reported owning 3,561K shares, representing an increase of 8.52%. The firm increased its portfolio allocation in ADC by 10.36% over the last quarter.

Centersquare Investment Management holds 3,139K shares representing 3.37% ownership of the company. In it's prior filing, the firm reported owning 3,286K shares, representing a decrease of 4.70%. The firm decreased its portfolio allocation in ADC by 5.94% over the last quarter.

Deutsche Bank Ag\ holds 3,016K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 3,335K shares, representing a decrease of 10.55%. The firm decreased its portfolio allocation in ADC by 89.67% over the last quarter.

Agree Realty Background Information
(This description is provided by the company.)

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of December 31, 2020, the Company owned and operated a portfolio of 1,129 properties, located in 46 states and containing approximately 22.7 million square feet of gross leasable area.

Additional reading:

• securities and exchange commission Washington, D.C. 20549 FORM T-1 Statement of Eligibility Under The Trust Indenture Act of 1939 of a Corporation Designated to Act as Trustee Check if an Application to Determine Eligibility of a Trustee Pursuant to
• May 5, 2023
• Agree Realty Corporation Reports First Quarter 2023 Results Increases 2023 Acquisition Guidance to At Least $1.2 Billion
• MAY 2023
• Subsidiary Guarantors of Agree Realty Corporation

This story originally appeared on Fintel.