Agree Realty: Why I Bought The 5.3% Yielding Commons

Imagesbybarbara/iStock Unreleased via Getty ImagesI've been buying Agree Realty's (NYSE:ADC) common shares in response to continued weakness with shares down roughly 20% over the last year to change hands for 13.9x times its fiscal 2023 fourth quarter annualized AFFO. A year ago this multiple was 18x. The retail REIT reported fourth-quarter AFFO of $1 per share, growing by 5.2% over its year-ago comp. ADC last declared a monthly cash dividend of $0.2470 per share, this was kept unchanged from the prior  ...