FARMINGTON HILLS, MI-Agree Realty Corp. reports second-quarter funds from operations were up 6.1% to $3,198,000 while revenues increased 5.4% to $6,119,000. Net income was $2,014,000, or $0.46 per share on a diluted basis, up from $0.40 per share.

For the six months ended June 30, 2001, funds from operations were up 5.4% to $6,330,000. Total revenues increased 5.89% to $12,301,000 for the comparable period last year.

The company paid a cash dividend of $0.46 per share on July 12 to shareholders of record on June 29. The dividend is equivalent to an annualized dividend of $1.84 per share and represents a payout ratio of 73% of funds from operations for the quarter.

Agree Realty owns, manages and develops neighborhood community shopping centers and single tenant properties in 13 states and leased to major retail tenants.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.