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Last $30.35 USD
Change Today -0.01 / -0.03%
Volume 72.8K
ADC On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

agree realty corp (ADC) Snapshot

Open
$30.60
Previous Close
$30.36
Day High
$30.60
Day Low
$30.02
52 Week High
01/23/15 - $36.15
52 Week Low
10/2/14 - $27.00
Market Cap
534.2M
Average Volume 10 Days
71.2K
EPS TTM
$1.66
Shares Outstanding
17.6M
EX-Date
06/26/15
P/E TM
18.3x
Dividend
$1.86
Dividend Yield
5.91%
Current Stock Chart for AGREE REALTY CORP (ADC)

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agree realty corp (ADC) Details

Agree Realty Corporation, a real estate investment trust (REIT), engages in the ownership, development, acquisition, and management of retail properties, which are primarily leased to national and regional retail companies in the United States. As of December 31, 2009, its portfolio consisted of 73 properties, including 61 freestanding net leased properties and 12 community shopping centers located in 16 states containing approximately 3.5 million square feet of gross leasable area. The company has elected to be treated as a REIT under the Internal Revenue Code. As a REIT, the company is not subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its stockholders. Agree Realty Corporation was founded in 1971 and is headquartered in Farmington Hills, Michigan.

14 Employees
Last Reported Date: 03/6/15
Founded in 1971

agree realty corp (ADC) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $611.3K
Executive Chairman and Chairman of Executive ...
Total Annual Compensation: $150.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $305.6K
Executive Vice President
Total Annual Compensation: $274.1K
Compensation as of Fiscal Year 2014.

agree realty corp (ADC) Key Developments

Agree Realty Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Agree Realty Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s total rental revenue, which includes minimum rents and percentage rents, for the three months ended June 30, 2015 increased 35.0% to $16,113,000 compared with total rental revenue of $11,933,000 for the comparable period in 2014. Total revenues were $17,219,000 against $12,904,000 a year ago. Income from operations was $9,942,000 against $4,591,000 a year ago. Income before discontinued operations was $10,465,000 against $2,716,000 a year ago. Net Income was $10,465,000 against $2,716,000 a year ago. Net income attributable to the company was $10,264,000 against $2,654,000 a year ago. Dilutive earnings per share from continuing operations were $0.58 against $0.18 a year ago. Dilutive earnings per share were $0.58 against $0.18 a year ago. Funds from operations for the three months ended June 30, 2015 increased 37.3% to $11,111,000 compared with FFO of $8,092,000 for the comparable period in 2014. FFO per share for the three months ended June 30, 2015 increased 14.8% to $0.62 compared with FFO per share of $0.54 for the comparable period in 2014. Adjusted funds from operations for the three months ended June 30, 2015 increased 33.3% to $11,039,000 compared with AFFO of $8,281,000 for the comparable period in 2014. AFFO per share for the three months ended June 30, 2015 increased 12.7% to $0.62 compared with AFFO per share of $0.55 for the comparable period in 2014. For the six months, the company’s total rental revenue for the six months ended June 30, 2015 increased 30.8% to $30,677,000 compared with total rental revenue of $23,456,000 for the comparable period in 2014. Total revenues were $32,963,000 against $25,479,000 a year ago. Income from operations was $18,998,000 against $11,757,000 a year ago. Income before discontinued operations was $16,959,000 against $8,088,000 a year ago. Net income was $16,959,000 against $8,226,000 a year ago. Net income attributable to the company was $16,632,000 against $8,039,000 a year ago. Dilutive earnings per share from continuing operations were $0.95 against $0.53 a year ago. Dilutive earnings per share were $0.95 against $0.54 a year ago. Funds from operations for the six months ended June 30, 2015 increased 31.8% to $21,064,000 compared with FFO of $15,978,000 for the comparable period in 2014. FFO per share for the six months ended June 30, 2015 increased 11.3% to $1.18 compared with FFO per share of $1.06 for the comparable period in 2014. Adjusted funds from operations for the six months ended June 30, 2015 increased 28.7% to $21,107,000 compared with AFFO of $16,396,000 for the comparable period in 2014. AFFO per share for the six months ended June 30, 2015 increased 9.3% to $1.18 compared with AFFO per share of $1.08 for the comparable period in 2014.

Agree Realty Corp. Plans a New Store in Springfield

Agree Realty Corp. announced that it is planning a new store in Springfield. Construction on the store is estimated to cost about $5 million, and Hobby Lobby has executed a 15-year lease to occupy the premises. Hobby Lobby's store is expected to be complete in the second quarter of 2016. The new store will mark the fourth Dayton-area location for Hobby Lobby.

Agree Realty Corp. Announces Management Changes

Agree Realty Corporation announced that Mr. Brian Dickman has resigned as Chief Financial Officer and Secretary to pursue another business opportunity. The resignation will take effect after a transition period which is expected to end on or around August 4, 2015. Mr. Kenneth Howe, former Chief Financial Officer of the company, has been appointed to serve as interim Chief Financial Officer upon Mr. Dickman's departure. Mr. Howe has been with the company since its initial public offering in 1994, serving as Chief Financial Officer from April 1994 to November 2010, and is currently the company's director of tax. Mr. Michael Donahue, the company's corporate controller, will continue to lead the day-to-day operations of the company's accounting department. The company has commenced a search for Mr. Dickman's permanent replacement.

 

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