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 be eligible for the dividend. Shareholders of record as of July 31, 2023 will receive payment on August 14, 2023.
At the current share price of $65.48/share, the dividend yield of the stock is 4.45%.
Looking back five years and taking a sample each week, the average dividend yield was 3.75%, the low 2.93% and the high 4.50%. The standard deviation of returns 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 as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into 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 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%. The total number of shares held by institutions has decreased by 0.78% over the past three months to 114,209,000 shares. 
The ADC’s put/call ratio is 0.71, indicating a bullish outlook.
Analyst price forecast suggests 18.39% upside
As of July 6, 2023, the one-year average price target for Agree Realty was 77.52. The forecast ranges from a low of 70.70 to a high of $84.00. The average price target represents an increase of 18.39% from its last published closing price of 65.48.
Check out our ranking of companies with the biggest upward price target.
The expected annual turnover for Agree Realty is 508MM, an increase of 10.95%. Projected annual non-GAAP EPS is 1.70.
What are the other shareholders doing?
IJR – iShares Core S&P Small-Cap ETF holds 6,563,000 shares representing 7.04% ownership of the company. In its previous filing, the company said it held 5,823,000 shares, representing a raise of 11.28%. The company increase its ADC portfolio allocation of 7.62% in the last quarter.
Principal Financial Group holds 5,796,000 shares representing 6.22% ownership of the company. In its previous filing, the company stated that it holds 5,715,000 shares, representing a raise 1.40%. The company decreases its ADC portfolio allocation of 47.16% in the last quarter.
VGSIX – Vanguard Real Estate Index Fund Investor Shares owns 3,893,000 shares representing 4.18% ownership of the company. In its previous filing, the company said it held 3,561,000 shares, representing a raise of 8.52%. The company increase its ADC portfolio allocation of 10.36% in the last quarter.
Centersquare Investment Management holds 3,139,000 shares representing 3.37% ownership of the company. In its previous filing, the company said it held 3,286,000 shares, representing a decrease of 4.70%. The company decreases its ADC portfolio allocation of 5.94% in the last quarter.
Deutsche Bank Ag holds 3,016,000 shares representing 3.24% ownership of the company. In its previous filing, the company said it held 3,335,000 shares, representing a decrease of 10.55%. The company decreases its ADC portfolio allocation of 89.67% in the last quarter.
Accept basic real estate information
(This description is provided by the company.)
Agree Realty Corporation is a publicly traded real estate investment trust principally engaged in the acquisition and development of net leased properties to prime 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.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.