Why This Monthly Dividend Stock's Slight Rise in 2022 Stands Out
Shares of Agree Realty (NYSE: ADC) rose just over 1% during the first half of 2022, according to data provided by S&P Global Market Intelligence. While that might not sound all that impressive, it's noteworthy considering that the S&P 500 declined nearly 21% during that period.
Here's a look at why the monthly dividend-paying real estate investment trust (REIT) was up in a period when the market was down sharply.
Agree Realty has reported strong financial results this year. In February, the retail REIT posted its fourth-quarter results for 2021, delivering a 9.2% increase in its adjusted funds from operations (AFFO) per share. The REIT benefited from committing to invest a record $1.43 billion in acquiring 297 net lease retail properties last year.
Source Fool.com
