Agree Realty: Waiting For Rate Cuts With The Commons And Preferreds
ADCAgree Realty(ADC) seekingalpha.com·2024-05-27 05:34
J. Michael Jones/iStock Editorial via Getty Images I've been buying more of Agree Realty's (NYSE:ADC) common and preferred shares since the start of the year in response to the continued weakness of these securities. The commons are down 9% over the last 1 year with the 4.25% Series A preferreds (NYSE:ADC.PR.A) trading at a material 32% discount to their $25 per share liquidation value. The commons last declared a monthly cash dividend of $0.250 per share, kept unchanged from the prior month and $3 per  ...