Agree Realty

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 retail tenants. The company was founded by Richard Agree in 1971 and is headquartered in Bloomfield Hills, MI.

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Agree Realty (ADC) reports record 2022 performance amidst market challenges

Agree Realty (ADC) had a strong performance in 2022, maintaining high occupancy rates, increasing dividends, and managing expenses effectively.
The company faces challenges in managing leverage, dealing with reduced transactional volume, and potential bankruptcies in retail sectors.
Opportunities lie in pursuing multi-tenant deals, securing better terms in acquisitions, and benefiting from favorable market conditions.
Overall, ADC's defensive portfolio, strong balance sheet, and strategic positioning position the company well for future growth and value creation.

Agree Realty (ADC) raises 2023 acquisition guidance amidst retail challenges

Agree Realty (ADC) is off to a strong start in 2023, focusing on strategic acquisitions and technology investments. While maintaining a robust balance sheet, the company faces challenges in navigating post-COVID retail uncertainties. ADC is poised to capitalize on sale-leaseback opportunities and pursue growth in single-tenant retail.

Agree Realty (ADC) reports robust Q2 performance amidst financing challenges

Agree Realty demonstrated financial strength and operational resilience in Q2 2023, maintaining high occupancy rates and expanding its property portfolio. While facing challenges in financing and development partnerships, the company remains focused on sustainable growth and seizing opportunities in a dynamic market environment.

Agree Realty (ADC) reports robust Q3 performance amidst market challenges

Agree Realty (ADC) delivered strong financial performance in Q3, with increased dividends and steady cost management.
The company's focus on investment-grade tenants and ESG initiatives positions it well for sustainable growth.
While facing challenges from rising rates and market dynamics, ADC's disciplined strategy presents opportunities for strategic acquisitions.
Overall, ADC remains resilient in navigating market challenges and capitalizing on growth prospects in the real estate sector.

Agree Realty excels in disciplined investments amidst market challenges

Agree Realty had a strong performance in 2023, focusing on high-quality retail properties and disciplined investments.
The company's strengths lie in its stable balance sheet, strategic reduction of exposure, and strong debt strategy.
Challenges include a fragmented buyer pool, cautious approach to certain sectors, and an expected decrease in transaction volume.
Opportunities exist in selling assets, redeploying capital, and leveraging retailer expansion in discount spaces for growth.

Agree Realty (ADC) reports robust Q1 performance amidst market challenges

Agree Realty demonstrates strong financial performance and strategic focus on AFFO growth, supported by a robust balance sheet and positive lease dynamics.
Management's confidence in consistent earnings growth and ability to execute acquisitions without external capital raise underpin operational strength.
Challenges in financing environment and market uncertainties require strategic adaptation, while unique opportunities and active portfolio management offer avenues for growth.
Overall, Agree Realty's Q1 earnings call highlights a resilient performance amidst challenges, with a focus on seizing growth opportunities and optimizing portfolio value.

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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 retail tenants. The company was founded by Richard Agree in 1971 and is headquartered in Royal Oak, MI.

ROYAL OAK, Mich. , Sept. 10, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.250 per common share.

Agree Realty Declares Monthly Common and Preferred Dividends

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Agree Realty owns retail properties, like grocery stores and home improvement locations. Getty Realty owns gas stations and other auto-related convenience properties.

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Agree Realty and CareTrust REIT share prices have rallied since July due to cooling inflation. Additionally, both offer long-term upside due to high-quality business models and strong fundamentals. Agree Realty benefits from investment-grade tenants, a strong balance sheet, and a superior cost of capital, making them less susceptible to economic downturns. CareTrust REIT excels with a low net debt to EBITDA, a strong acquisition pipeline, and a well-covered dividend, positioning them for future growth.

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We assigned a Strong Buy rating to ADC due to its superior AFFO growth, lower cost of capital, and trading at a discount. ADC has outperformed the net lease sector, returning 30% since April, driven primarily by multiple expansion from 14.2x to 17.8x forward AFFO. Despite recent gains, ADC is now expensive relative to peers but remains a strong long-term Buy due to its solid business model and CEO alignment.

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NETSTREIT Corp. is a retail-focused REIT with similarities to Agree Realty but with differences in tenant exposure and investment spreads. The company's financial performance has been solid, with growth in FFO and revenue, a strong balance sheet, and a safe dividend payout ratio. NETSTREIT Corp. is currently undervalued compared to its retail REIT peers, with potential for future growth.

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Agree Realty is a high-quality stock for income investors with resilient recession and e-commerce-resistant tenants. ADC's common stock has seen significant gains, leading to a higher valuation, making its Preferred Series A shares a more attractive option. With a solid balance sheet, strong credit ratings, and a well-covered 4.2% dividend yield, ADC is well-positioned for steady growth.

Agree Realty: Common Or Preferred? One Is The Better Buy

Agree Realty Corporation and Realty Income Corporation were undervalued, but have started to recover, with Realty Income showing more potential for growth. Agree Realty has strong management, diversified portfolio, and conservative capital allocation, while Realty Income is a secure, stable investment with consistent growth. Realty Income is considered a “BUY” with a potential upside of at least 8-10%, while Agree Realty is rated as a “Hold” due to limited upside at current valuation levels.

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Reduces Borrowing Cost by Five Basis Points and Extends Maturity to 2029 ROYAL OAK, Mich. , Aug. 8, 2024  /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced it has entered into a Fourth Amended and Restated Revolving Credit Agreement which increases its senior unsecured revolving credit facility (the "Credit Facility") to $1.25 billion.

Agree Realty Announces Expanded $1.25 Billion Credit Facility

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Agree Realty posted strong second-quarter results in July. The REIT also received a credit rating upgrade.

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Highlights Highly Occupied Portfolio and Sector Leading Investment Grade Tenant Base   ROYAL OAK, Mich., July 29, 2024 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that S&P Global Ratings has upgraded the Company's issuer rating to BBB+ from BBB with a stable outlook.

Agree Realty Receives Upgrade to BBB+ From S&P Global Ratings

Agree Realty is still attractive after a recent stock price increase. ADC has top-tier portfolio quality reflected within its occupancy rate, WALT, and share of ABR derived from investment-graded tenants. The Company increases investment volume at wide, positive investment spreads, suggesting improving market conditions.

Agree Realty Is Set To Outperform Its Peers: Here's Why

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Agree Realty: Better Than Realty Income For Most Investors

Agree Realty Corporation offers a reliable 4.3% dividend yield, 2% rent growth, and potential for multiple expansion. ADC's focus on larger properties with high-quality tenants and ground leases results in a predictable and safe revenue stream. Despite low growth projections, the stock's 4.3% dividend yield and potential for multiple re-rating make it an attractive investment option.

Agree Realty: A Rock Solid Option For Income And Safety

I think Agree Realty will likely to outperform the S&P in total returns over the next 5-10 years. ADC has shown strong growth with impressive earnings and acquisitions over the past year. Additionally, their 10-year dividend CAGR of 5.7% is higher than peers Realty Income & NNN REIT. The company's ability to recycle capital at attractive cap rates, solid acquisitions, and strong total return outperformance make it a must-have for long-term dividend investors.

Agree Realty: Not As Attractive, But Still Bullish (Rating Downgrade)

Agree Realty's dividend yield is 4.4%, which is high on an absolute basis. It has increased its dividend for around a decade at a lofty clip.

Should You Buy Agree Realty While It's Below $70?

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