Monthly Dividend / Yield $0.25 / 4.91%
Ex-Dividend Date 06/28/2024
Dividend Payable Date 07/15/2024
Next Earnings Date 07/23/2024
Sector(s): Real Estate
Industry: REIT - Retail
https://www.agreerealty.com
Agree Realty cut its dividend in 2011 because of the bankruptcy of one of its tenants. The dividend has been growing steadily since 2013, or roughly for a decade. And, more importantly, the dividend cut came when Agree owned fewer than 100 properties. Today, the net lease real estate investment trust (REIT) owns over 2,100 properties. (A net lease requires the tenant to pay for most property-level operating costs.) It just isn't the same company it was in 2011.
Agree is now a relatively fast-growing REIT that has rewarded investors with a relatively fast-growing dividend. To be fair, Agree's dividend has only grown at around 6% or so a year over the past decade. But that's almost twice as fast as net lease REIT giant Realty Income. The real attraction of Agree, however, is the opportunity that lies ahead as it continues to buy new properties. Given that Realty Income owns over 15,400 buildings, Agree's runway for growth looks very long. You can collect an attractive yield of 4.8% if you buy into this growing REIT.
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