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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., Dec. 22, 11:56 AM

Slide #23. Agree Realty Corporation Secondary Offering

Company: Agree Realty Corporation (NYSE:ADC)
Date announced: 12/3/2014
Shares Offered: 2,250,000
Date of Pricing: 12/4/2014
Price Per Share: $29.69
Secondary Offering Details: Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that it has commenced an underwritten public offering of 2,100,000 newly issued shares of common stock. In connection with the offering, the Company will grant the underwriters a 30-day option to purchase up to an additional 315,000 shares of common stock. - updated 12/4 - Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that it has priced an underwritten public offering of 2,250,000 newly issued shares of common stock for expected gross proceeds of approximately $66.8 million before the underwriting discount and offering expenses payable by the Company. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 337,500 shares of common stock. Subject to customary conditions, the offering is expected to close on December 9, 2014

Agree Realty is a self-administered, self-managed real estate investment trust. Co.'s assets are held by and all of its operations are conducted through, directly or indirectly, Agree Limited Partnership. Co. is focused primarily on the ownership, development, acquisition and management of retail properties net leased to national tenants. As of Dec 31 2013, Co.'s portfolio consisted of 130 properties, located in 33 states, containing an aggregate of approximately 3.7 million square feet of gross leasable area. Also as of such date, Co.'s portfolio included 122 net leased properties and eight community shopping centers that were 98.0% leased.
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Company Name:  Agree Realty Corp.
Website:  www.agreerealty.com
Sector:  REITs
Number of ETFs Holding ADC:  37
Total Market Value Held by ETFs:  $67.07M
Total Market Capitalization:  $469.00M
% of Market Cap. Held by ETFs:  14.30%
 

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December 22, 2014    11:56 AM Eastern
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Strong Buy (3.67 out of 4)
80th percentile
(ranked higher than approx. 80% of all stocks covered)
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