Agree Realty Corp.

Symbol: ADC
CIK: 917251
Exchange: NYSE
Founded: 1971 (48 years)
HQ: Farmington Hills, MI, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Retail

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 9.2   Dividend Section Rating

Rating Dividend Section Avg. Rating
9 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 5.5
8 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 4.5
10 Dividend to AFFO Payout Ratio Health: Analysis of the REIT’s Dividend to AFFO Payout Ratios during the last four quarters. 6.9
10 Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. 5.8
9 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 7.0
9.2 Overall Dividend Section Rating: The REIT’s total dividend score from the compilation of the below dividend analysis. 6.8

 8.5   Leverage Section Rating

Rating Leverage Section Avg. Rating
8 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.6
7 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 7.3
9 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 8.0
9 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.0
9 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 6.3
9 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.1
8.5 Overall Leverage Section Rating: The REIT’s total Debt Leverage score from the compilation of the above Debt analysis. 7.5

 9.0   Asset & Revenue Section Rating

Rating Asset & Revenue Section Avg. Rating
8 G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. 6.9
8 G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. 7.7
10 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.9
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.3
9.0 Overall Asset & Revenue Section Rating: The REIT’s total Asset, Revenues, and Administrative expenses score from the compilation of the above analysis. 7.2

 8.9   Overall REITRating™ Score


REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

Stock Chart

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Hightlights of Trading Day August 16, 2019


Open Price: $71.82
Closing Price: $71.71
Price Change: 1.1 (1.558%)
Lowest Price: $71.74
Highest Price: $72.48

52-Week Low: $50.72
52-Week High: $71.79
52-Week Change: 29.32%

5 Day Price Change: 1.54%
1 Month Price Change: 10.63%
3 Month Price Change: 5.57%
6 Month Price Change: 10.66%
YTD Price Change: 24.48%
1 Year Price Change: 29.32%
2 Year Price Change: 44.57%
5 Year Price Change: 125.27%

Dividend of Trading Day August 16, 2019


Dividend Yield: 3.179%*
Annualized Dividend: $2.28*
Dividend Yield (TTM):
Annualized Dividend (TTM): $2.22
Ex Dividend Date: 2019-06-27
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes.

Funds From Operations (FFO)


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Key Stats of Trading Day August 16, 2019


Total Cash: $53,975,000
Current Debt: $42,795,000
Revenue: $148,056,000
Gross Profit: $87,347,000
Total Revenue: $148,056,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $118,880,000
Revenue Per Share: $4
Revenue Per Employee: $4,112,667
Employee: 36
Debt to Equity Ratio (D/E): 0.58
Profit Margin: 0.39%
Enterprise Value (EV): $3,675,887,570
Enterprise Value to Revenue (EV/R): 24.83
Price to Sales (P/S): 20.33
Price to Book (P/B): 2.45
Peg Ratio: 4.09
P/E Ratio: 39.60
P/E High: 40.33
P/E Low: 28.49
Forward P/E Ratio: 40.83
Market Capitalization: $3,009,453,570
Beta: 0.29
Latest Volume: 182,423.00
Avg. Total Volume: 280,604
Avg. 10 Volume: 362,534.90
Avg. 30 Volume: 280,604.23
TTM EPS: 1.81
TTM Dividend Rate: 2.22
Shares Outstanding: 41,967,000
Float: 40,770,562.80
50-Day Moving Avg.: 66.68
200-Day Moving Avg.: 64.47

Latest REIT Community Comments on #ADC


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Properties Owned by ADC


Properties owned:
481
Types:
4
States:
44
Countries:
1
Sample of REIT’s Properties (Image Source - REIT’s website) | See more pictures
ADC Sample Property
Please visit this REIT’s official webpage to learn more.

Dividend History


Below are the most recent cash dividends paid by ADC, and the Ex-Dividend Date of the dividend. The percent difference from one dividend payment to the next has also been calculated for your convenience.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Current Cash 22,429,000 25,349,000 53,975,000 18,247,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 0 1,440,000 2,539,000 4,516,000
Property, Plant & Equipment Net 0 0 0 0
Goodwill 0 0 0 0
Intangible Assets 0 0 0 0
Other Assets 338,382,000 319,084,000 288,794,000 281,161,000
Net Tangible Assets 1,465,639,000 1,287,066,000 1,236,075,000 1,065,871,000
Total Assets 2,304,443,000 2,150,337,000 2,028,189,000 1,748,634,000
Accounts Payable 0 0 0 0
Liabilities (Other) 100,727,000 89,251,000 68,819,000 62,411,000
Current Liabilities (Other) 24,119,000 21,535,000 21,031,000 18,808,000
Total Current Liabilities 0 0 0 0
Current Long-term Debt 22,899,000 41,933,000 42,795,000 850,000
Long-term Debt 712,894,000 729,731,000 677,614,000 616,520,000
Total Liabilities 836,520,000 860,915,000 789,703,000 680,256,000
Minority Interest 158,000 169,000 128,000 170,000
Common Stock 4,000 4,000 4,000 3,000
Retained Earnings -51,298,000 -45,940,000 -42,945,000 -35,317,000
Treasury Stock 0 0 0 0
Capital Surplus 1,522,644,000 1,334,952,000 1,277,592,000 1,096,679,000
Shareholder Equity 1,465,639,000 1,287,066,000 1,236,075,000 1,065,871,000

Income Statement (Quarterly)

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Total Revenue 49,437,000 46,910,000 40,588,000 37,373,000
Cost of Revenue 20,784,000 19,794,000 16,723,000 15,422,000
Gross Profit 28,653,000 27,116,000 23,865,000 21,951,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 24,664,000 23,829,000 19,895,000 18,369,000
Operating Income 24,773,000 23,081,000 20,693,000 19,004,000
Income Expense Net (Other) -5,856,000 -4,735,000 -7,230,000 -3,123,000
EBIT 24,773,000 23,081,000 20,693,000 19,004,000
Interest Income 7,612,000 7,746,000 6,793,000 6,605,000
Pretax Income 18,917,000 18,346,000 13,463,000 15,881,000
Income Tax 195,000 -170,000 125,000 125,000
Minority Interest 158,000 169,000 128,000 170,000
Net Income 18,475,000 18,251,000 13,210,000 15,586,000
Net Income Basic 18,475,000 18,251,000 13,210,000 15,586,000

Cash Flow

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Net Income 18,475,000 18,251,000 13,210,000 15,586,000
Depreciation 15,196,000 14,238,000 11,955,000 11,181,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change -2,920,000 -28,626,000 35,728,000 9,261,000
Cash Flow 34,092,000 23,507,000 28,995,000 27,214,000
Capital Expenditures -124,000 -100,000 -146,000 -1,181,000
Investments -165,939,000 -138,551,000 -257,343,000 -131,396,000
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -166,063,000 -138,651,000 -257,489,000 -132,577,000
Dividends Paid -21,342,000 -20,838,000 -18,620,000 -16,758,000
Net Borrowings -36,081,000 51,102,000 102,893,000 -28,398,000
Cash Flow Financing 129,051,000 86,518,000 264,222,000 114,624,000
Financing Cash Flows (Other) -193,000 -193,000 -188,000 -188,000
Exchange Rate Effect 0 0 0 0

About Agree Realty Corp.


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 March 31, 2018, the Company owned and operated a portfolio of 463 properties, located in 43 states and containing approximately 8.9 million square feet of gross leasable space. The common stock of Agree Realty Corporation is listed on the New York Stock Exchange under the symbol “ADC”.

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