Notable News Spotlight: Agree Realty Corporation (NYSE:ADC)

Agree Realty Corporation (NYSE:ADC) stock reported trading -24.73% off 52-week high price. On the other end, the stock has been noted 33.98% away from low price over the last 52-weeks. The stock disclosed a move of -14.69% away from 50 day moving average and -15.00% away from 200 day moving average. Moving closer, we can see that shares have been trading -4.49% off 20-day moving average. It has market cap of $2.75B and dividend yield of 3.86%.

On April 2, 2020, Agree Realty Corporation (NYSE:ADC) declared that it has completed its follow-on public offering of 2,875,000 shares of its common stock, which includes the underwriters’ full exercise of their option to purchase additional shares. Total net proceeds, after deducting the underwriting discount and offering expenses, are anticipated to be approximately $170.4 million.

The Company expects to use the net proceeds to fund acquisition and development activity and for general working capital and other corporate purposes, including the reduction of the outstanding balance on the Company’s revolving credit facility.

Citigroup, Jefferies and Wells Fargo Securities acted as joint book-running managers for the offering. Raymond James, Stifel, BTIG, Capital One Securities, Mizuho Securities, Regions, SunTrust Robinson Humphrey, Baird, Berenberg and Janney Montgomery Scott served as co-managers for the offering.

 The USA based company Agree Realty Corporation moved with change of -0.07% to $60.6 with the total traded volume of 659480 shares in recent session versus to an average volume of 665.54K shares. The stock was observed in the 5 days activity at -3.56%. The one month performance of stock was -21.96%. ADC’s shares are at -10.43% for the quarter and driving a -10.18% return over the course of the past year and is now at -13.64% since this point in 2018.  Right now the stock beta is 0.3. The average volatility for the week and month was at 7.19% and 9.78% respectively. There are 45.39M shares outstanding and 44.32M shares are floated in market.

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