Agree Realty Declares $0.262 Monthly Dividend, Up 3.6% Year-Over-Year
Agree Realty Corporation (NYSE: ADC), a retail net lease REIT, declared a monthly cash dividend of $0.262 per share for February 2026. The payout represents a 3.6% increase from the same month last year.
Agree Realty Corporation (NYSE: ADC), a retail net lease REIT, declared a monthly cash dividend of $0.262 per share for February 2026, representing a 3.6% increase from the year-ago period. The board approved the dividend on February 5, 2026. Read more dividend announcements.
The declaration continues the company's pattern of monthly distributions to shareholders. Specific record, ex-dividend, and payment dates for the February dividend were not disclosed in the announcement.
| Dividend Details | Amount |
|---|---|
| Dividend per Share | $0.262 |
| Frequency | Monthly |
| Year-Over-Year Change | +3.6% |
| Declaration Date | February 5, 2026 |
| Record Date | Not Disclosed |
| Ex-Dividend Date | Not Disclosed |
| Payment Date | Not Disclosed |
Recent Business Activity
Agree Realty deployed $1.55 billion into retail net lease assets during 2025. The company raised over $623 million through its at-the-market equity program year-to-date, selling 8.3 million shares with over $1.3 billion in outstanding forward equity based on forward sale prices as of February 23, 2026.
The REIT closed a $350 million delayed draw term loan in early 2026 with a 5.5-year maturity and a fixed rate of 4.02%, inclusive of forward-starting SOFR swaps. The company has no material debt maturities until 2028.
Agree Realty increased its 2026 investment guidance to a range of $1.4 billion to $1.6 billion. The company introduced 2026 funds from operations guidance of $4.54 to $4.58 per share, representing 5.4% growth at the midpoint.
Balance Sheet Position
The company reported total liquidity exceeding $2.5 billion as of February 23, 2026, proforma for the settlement of outstanding forward equity. This includes over $1.3 billion in outstanding forward equity, approximately $1.2 billion in revolver and term loan capacity, and roughly $10 million in cash.
Fitch Ratings assigned Agree Realty an A- issuer rating with a stable outlook. The company has approximately $1.6 billion of hedged capital, including $250 million of forward-starting interest rate swaps fixing the base rate for a future 10-year unsecured debt issuance at approximately 4.1%.
During 2025, the company completed or commenced construction on 34 development or developer funding platform projects totaling over $225 million in committed capital. Approximately 18.2% of annualized base rents acquired in the fourth quarter of 2025 came from ground leased assets.