Agree Realty Corporation (NYSE:ADC) will begin trading ex-dividend on December 22, 2020. The quarterly dividend payment of $ 0.62 per share is scheduled to be paid on January 6, 2021. The dividend yield based on the latest trading day closing price was 3.88 percent. Shareholders who purchased ADC shares prior to the ex-dividend date are eligible for the cash dividend payment.
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Agree Realty Corporation recently reported third quarter financial results on October 19, 2020, after market close, publicly traded real estate investment trust posted income for the third quarter of $ 0.80 per share, from the revenue of $ 63.81 million. The quarterly earnings escalated 3.90 percent while revenues developed 32.72 percent compared with the same quarter last year.
According to street consensus, ADC was expected to report 3Q20 income of $ 0.42 per share from revenue of $ 61.58 million. The bottom line results beat street analysts by $ 0.38 or 90.48 percent, at the same time, top line results outshined analysts by $ 2.23 million or 3.62 percent.
Shares of Agree Realty Corporation traded low $ -2.71 or -4.06 percent on Friday, reaching $ 63.99 with volume of 2.17 million shares. Agree Realty Corporation has traded high as $ 67.05 and has cracked $ 63.75 on the downward trend
According to the previous trading day, closing price of $ 63.99, representing a 47.47 % increase from the 52 week low of $ 45.23 and a 17.15 % decrease over the 52 week high of $ 80.51.
The company has a market capital of $ 3.54 billion and is part of the Financial sector and Property Management industry.
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 September 30, 2019, the Company owned and operated a portfolio of 789 properties, located in 46 states and containing approximately 14.0 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”.