Agree Realty (ADC) is Real Estate Invesment Trust (REIT) that owns and operates shopping centers across the US. Its top tenants are as follows:
Its main draw is that its tenants are investment grade and have conservative balance sheets. In addition, its tenants operate in critical and often recession-resistant sectors like grocery chains, pharmacies, and dollar stores.
This conservative strategy has delivered 11.8% compound average annual total return since IPO in 1994 and a 6.1% compound annualized dividend growth over the past ten years. For income investors, the REIT pays its dividend monthly. Investors today will enjoy a 5.19% dividend yield as they wait for the share price to recover.
On a long-term perspective, the stock is now trading near the support that extends from the 2009 lows. However, a bullish pattern is building.