Agree Realty Raises Monthly Dividend 3.4%

Agree Realty raised its monthly common dividend to $0.271 per share, an annualized $3.252 and a 3.4% increase over its fourth-quarter 2025 rate. The payout is supported by core adjusted funds from operations (AFFO), which rose 4.9% year over year to $1.15 per share in the third quarter; the dividend represented about 69% of AFFO, while the portfolio was 99.8% occupied. The company’s acquisition spending can produce negative reported free cash flow and it relies partly on issuing shares to fund growth, so investors assess the payout using AFFO rather than headline free cash flow. The increase continues Agree Realty’s monthly dividend growth, though the company’s roughly 4.7% forward yield is lower than some other monthly payers.