Key Developments: Agree Realty Corp (ADC)
31.75USD
18 Jun 2013
$0.61 (+1.96%)
$31.14
$31.26
$32.04
$31.21
63,536
111,948
$34.25
$21.13
Latest Key Developments (Source: Significant Developments)
Agree Realty Corp Announces Quarterly Cash Dividend
Agree Realty Corp announced that its Board of Directors has declared its second quarter 2013 dividend for the Company's common stock. Second quarter 2013 cash dividend of $0.41 per share. The declared second quarter 2013 dividend when annualized equals $1.64 per share. The second quarter 2013 common share dividend is payable July 9, 2013 to shareholders of record at the close of business on June 28, 2013. Full Article
Agree Realty Corp Announces Acquisitions Of Two Single Tenant Assets
Agree Realty Corp announced that it has acquired two single tenant assets leased to Petsmart and Starbucks. Petsmart occupies 20,353 square feet on Disk Road in Rapid City, South Dakota, adjacent to Kohl's. Starbucks occupies 1,562 square feet in Manchester, Connecticut. The aggregate purchase price of the acquisitions was approximately $5,400,000. Full Article
Agree Realty Corp Updates First Quarter Dividend Record Date
Agree Realty Corp announced that it has updated the record date for its first quarter 2013 dividend for the Company's common stock. The dividend will be paid on April 9, 2013 to shareholders of record on March 28, 2013. The previously announced record date of March 29, 2013 falls on a holiday for the New York Stock Exchange. The dividend of $.41 per share represents an annualized rate of $1.64 per share. Full Article
Agree Realty Corp Announces Increased Quarterly Cash Dividend
Agree Realty Corp announced that Board of Directors has declared its first quarter 2013 dividend for the Company's common stock. First quarter 2013 cash dividend of $0.41 per share, up from $.40 per share. The declared first quarter 2013 dividend when annualized equals $1.64 per share, an increase of 2.5% as compared to the previous annualized dividend amount of $1.60 per share. The first quarter 2013 common share dividend is payable April 9, 2013 to shareholders of record at the close of business on March 29, 2013. Full Article
Agree Realty Corp Announces $6,400,000 In Acquisitions
Agree Realty Corp announced that it has acquired three single tenant assets leased to retailers. The acquisitions include a Dollar General Market in Statham, Georgia, an AutoZone in North Las Vegas, Nevada and a Family Dollar in Memphis, Tennessee. Dollar General Market occupies 20,707 square feet, AutoZone occupies 6,000 square feet and Family Dollar occupies 8,320 square feet. The aggregate cost of the acquisitions was approximately $6,400,000. All three retailers carry an investment grade rating. The weighted average lease term remaining for the three tenants is approximately 13 years. Full Article
Agree Realty Corp Announces $8,500,000 Acquisition
Agree Realty Corp announced that it has acquired Dick's Sporting Goods and Petsmart in St. Joseph, Missouri. Dick's occupies 45,000 square feet and Petsmart occupies 12,342 square feet. Retailers within the immediate trade area include a Wal-Mart Supercenter, Target, Kohl's, Lowe's and Home Depot. Both tenants have approximately nine-and-a-half years remaining on the base term of their leases. The aggregate cost of the acquisitions was approximately $8,500,000. Full Article
Agree Realty Corp Announces Exercise Of Underwriters' Option And Closing Of Common Stock Offering
Agree Realty Corp announced the closing of its public offering of 1,725,000 shares of its common stock, including 225,000 shares issued and sold pursuant to the full exercise of the underwriters' over-allotment option, on January 18, 2013. The shares were issued at a public offering price of $27.25 per share, for a total of $47,006,250 of gross proceeds. Raymond James served as sole book-running manager for the offering. BMO Capital Markets served as lead manager for the offering, and Compass Point, PNC Capital Markets LLC and Piper Jaffray served as co-managers for the offering. The Company intends to use the net proceeds of the offering to repay a portion of the outstanding indebtedness under its $85 million credit facility, to fund development activity and property acquisitions, and for other general corporate purposes. Full Article
Agree Realty Corp Announces Sale Of Michigan Walgreens
Agree Realty Corp announced that it has closed on the sale of the Walgreens on Michigan Avenue in Ypsilanti , Michigan. The 13,650 square foot store was developed by the Company in 2008. The property was sold for approximately $5,600,000. Full Article
Agree Realty Corp Prices Public Offering Of 1,500,000 Shares Of Common Stock
Agree Realty Corp announced that the pricing of its public offering of 1,500,000 shares of its common stock at a public offering price of $27.25 per share, for a total of $40,875,000 of gross proceeds. The offering is expected to close on or about January 18, 2013. The Company has also granted the underwriters a 30-day option to purchase up to an additional 225,000 shares of common stock to cover over-allotments, if any. Raymond James served as sole book-running manager for the offering. The Company intends to use the net proceeds of the offering to repay a portion of the outstanding indebtedness under its $85 million credit facility, to fund development activity and property acquisitions, and for other general corporate purposes. Full Article
Agree Realty Corp Announces Public Offering Of Common Stock
Agree Realty Corp announced that the commencement of a public offering of 1,300,000 shares of its common stock. The Company also expects to grant the underwriters a 30-day option to purchase up to an additional 195,000 shares of common stock to cover over-allotments, if any. The Company intends to use the net proceeds of the offering to repay a portion of the outstanding indebtedness under its $85 million credit facility, to fund development activity and property acquisitions, and for other general corporate purposes. Raymond James will serve as sole book-running manager for the offering. Full Article
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