Agree Realty Corporation

Agree Realty Corporation

ADC
Agree Realty CorporationUS flagNew York Stock Exchange
80.22
USD
-0.04
- -
9.63BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
3.33
3.6
3.89
4
4.04
4.28
4.62
4.8
5.08
5.46
5.65
6.1
6.49
6.59
Basic EPS, GAAP
1.51
1.24
2.17
1.97
2.1
1.81
1.97
1.76
1.8
1.84
1.71
1.8
1.78
1.86
Free Cash Flow per Basic Share
2.26
2.35
2.48
2.7
2.98
2.91
3.12
2.76
3.69
4.6
4.11
4.27
4.55
4.59
Dividend per Share
1.6
1.71
1.83
1.84
2
2.11
2.22
2.24
2.93
2.9
3
3.08
3.14
3.17
Book Value per Share
-1.83
-2.19
-1.57
-1.25
-1.04
-1.34
-1.41
-1.76
-2.21
-2.9
-3.64
-4.65
-5.59
-5.74
Tangible Book Value per Share
20.24
20.73
20.94
23.86
25.92
29.88
33.22
39.6
38.51
46.48
43.82
44.22
46.02
44.17
Basic Weighted Avg Shares
13
15
18
23
28
32
41
52
67
79
95
101
111
114
Sales/Revenue/Turnover
44
54
70
92
112
137
187
249
339
430
537
617
718
750
Operating Margin (%)
58.41
57.71
57.33
56.44
56.46
54.93
54.78
52
52.19
49.75
48.32
48.29
48.29
48.31
Depreciation Expense
9
11
16
23
32
44
59
83
120
167
209
240
276
289
Net Income, GAAP
20
18
39
45
58
58
80
91
122
152
170
189
204
219
Effective Tax Rate (%)
- -
- -
- -
0.33
0.38
0.87
0.66
1.17
1.92
1.83
1.68
2.22
0.84
0.64
Profit Margin (%)
45.21
34.52
55.77
49.29
52.11
42.42
42.71
36.76
36.03
35.47
31.62
30.66
28.45
29.25
Working Capital
8
-2
-3
24
43
33
-5
-60
12
-11
-29
-31
-28
-25
LT Debt
158
222
317
431
550
748
899
1,254
1,721
1,977
2,448
2,832
3,355
3,755
Total Equity
292
356
454
686
911
1,238
1,692
2,526
3,419
4,630
5,200
5,511
6,271
6,239
Return on Invested Capital (%)
5.89
5.87
5.81
5.37
4.81
4.29
4.36
3.9
3.79
3.53
3.58
3.64
3.83
3.86
Return on Capital (%)
15.41
15.09
19.61
16.41
15.78
13.01
13.53
11.91
10.81
11.17
11.86
12.26
12.38
12.04
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
3,362
3,295
3,693
LT Finance Leases
57
60
62
Preferred Equity and Hybrid Capital
175
175
175
Shares Outstanding
114
120
120
Market Capitalization
7,662
7,973
8,586

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
134
143
161
Cash, Cash Equivalents & STI
14
16
25
Accounts Receivable, Net
118
122
130
Inventories
- -
- -
- -
Total Current Liabilities
192
172
186
Payables & Accruals
192
172
186
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
30.87%
20.57%
13.8%
Free Cash Flow
28.79%
30.9%
16.71%
Net Income, GAAP
18.56%
17.86%
8.01%
Sales/Revenue/Turnover
26.44%
23.89%
16.42%
Total Cash Common Dividend
27.15%
25.63%
12.2%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
149
153
154
161
617
2025
169
176
183
190
718
2026
201
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.43
0.53
0.42
0.42
1.8
2025
0.42
0.43
0.45
0.47
1.78
2026
0.5
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.76
0.77
0.77
0.78
3.08
2025
0.78
0.78
0.78
0.8
3.14
2026
0.81
- -
- -
- -
- -

Company Description

APIChatGPT
CEO
Joel N. Agree
Full Time Employees
90
Sector
Real Estate
Industry
REIT - Retail
Address
32301 Woodward Avenue Royal Oak MI United States of America 48304
IPO Date
Apr 15, 1994
Business
Agree Realty Corporation (NYSE: ADC), a fully integrated, self-administered and self-managed real estate investment trust founded in 1971 and headquartered in Royal Oak, Michigan, acquires, develops, owns and manages single-tenant retail properties net leased on a long-term basis primarily to investment-grade national and regional omni-channel retailers including Walmart, Advance Auto Parts, Dollar General, AutoZone, Gerber Collision, CVS, Burlington, Dollar Tree, Best Buy, Academy Sports, and Academy Sports; as of September 30, 2025, the portfolio comprises 2,603 properties containing approximately 54 million square feet of gross leasable area located across all 50 U.S. states, with 67% of annualized base rents derived from investment-grade tenants and 10.9% from ground leases. The company operates through acquisition, ground-up development, and its Developer Funding Platform, targeting properties in 28 retail sectors with a focus on stable, fee-simple ownership and weighted-average lease terms exceeding 10 years. In 2024, Agree Realty executed $951 million in total real estate investments including $867 million in 242 acquisitions at a 7.5% weighted-average cap rate (73.3% investment-grade in Q4), raised approximately $1.1 billion in forward equity through public offerings and its at-the-market program, closed a $350 million 5.5-year delayed draw term loan in November 2025, and strengthened liquidity to over $2.0 billion with no material debt maturities until 2028; for 2025, it projects $1.1 billion to $1.3 billion in investment volume representing a 26% increase at the midpoint.

Company News

APIChatGPT
  • Akari Therapeutics CEO Explains Why Growing Industry Demand for Next-Generation ADC Payloads Positions the Company at the Center of a Major Oncology Opportunity

  • Innate Pharma Announces Completion of Enrollment in Phase 1 Dose Escalation Study of IPH4502, a Novel Nectin-4 Exatecan Antibody-drug Conjugate (ADC)

  • ESMO 2026 | Mabwell to Present Latest Clinical Data on Nectin-4-targeting ADC 9MW2821 for Triple Negative Breast Cancer in Oral Presentation

  • If I Retired Today, I'd Buy These 2 Income Machines Before Anything Else

  • The Portfolio That Pays All Your Car Repairs For Life

  • Agree Realty Declares Monthly Common and Preferred Dividends

  • The REIT Strategy I Would Use To Retire Today

  • The 12.9% Monthly Dividend That Quietly Eats Your Portfolio

  • Why Investors Need to Take Advantage of These 2 Finance Stocks Now

  • InnoCare Announces First Patient Dosed in Clinical Trial of Novel CDH17 targeted ADC ICP-B208 in China

  • 5 Safe Monthly Pay Dividend Stocks Boomers Love in July

  • My 5 Greatest REIT Winners Of All Time

  • ADC Therapeutics Announces New Employee Inducement Grant

  • Agree Realty Announces Second Quarter 2026 Earnings Release Date and Conference Call Information

  • Agree Realty Announces Second Quarter 2026 Earnings Release Date and Conference Call Information

  • ADC Therapeutics Announces Completion of Enrollment in LOTIS-7 Phase 1b ZYNLONTA® Combination Trial

  • INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of ADC Therapeutics SA - ADCT

  • ADC Therapeutics Announces Strategic Reorganization to Support ZYNLONTA® Growth Opportunities and Regulatory Priorities

  • INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of ADC Therapeutics SA - ADCT

  • Araris Biotech AG and Taiho Oncology Announce Dosing of First Patient in Phase 1 Trial of ARC-02, a Novel ADC for the Treatment of Non-Hodgkin Lymphoma