ADC
Agree Realty Corporation
Price Chart
Latest Quote
$71.04
Current Price| Previous Close | $72.23 |
| Open | $72.12 |
| Day High | $72.37 |
| Day Low | $70.92 |
| Volume | 983,020 |
Stock Information
| Quarterly Dividend / Yield | $3.14 / 4.43% |
| Shares Outstanding | 114.93M |
| Total Debt | $3.39B |
| Cash Equivalents | $15.06M |
| Revenue | $688.64M |
| Net Income | $185.67M |
| Sector | Real Estate |
| Industry | REIT - Retail |
| Market Cap | $8.19B |
| P/E Ratio | 41.54 |
| EPS (TTM) | $1.71 |
| Exchange | NYQ |
đ Custom Metrics & Score
Score: 17/42| Debt to Equity | 0.51 |
| Debt to Earnings | 5.22 |
| Current Ratio | 0.78 |
| Quick Ratio | 0.78 |
| Avg Revenue Growth | 20.47% |
| Profit Margin | 30.66% |
| Return on Equity | 3.43% |
| Avg FCF Growth | 18.84% |
| FCF Yield | 5.27% |
Score Explanation: The perfect score is 42/42 based on debt levels, profitability, growth rates, and cash flow metrics. FCF Yield is weighted most heavily as it shows what return the business currently generates.
Recent Price History
| Date | Close | Volume |
|---|---|---|
| 2026-02-02 | $71.04 | 983,020 |
| 2026-01-30 | $72.23 | 1,115,600 |
| 2026-01-29 | $71.70 | 1,043,700 |
| 2026-01-28 | $70.82 | 1,004,300 |
| 2026-01-27 | $72.52 | 1,153,400 |
| 2026-01-26 | $72.39 | 1,186,200 |
| 2026-01-23 | $72.29 | 1,247,200 |
| 2026-01-22 | $71.77 | 1,180,700 |
| 2026-01-21 | $71.93 | 1,163,500 |
| 2026-01-20 | $72.92 | 1,314,100 |
| 2026-01-16 | $72.92 | 1,517,000 |
| 2026-01-15 | $71.75 | 1,280,800 |
| 2026-01-14 | $72.05 | 1,609,800 |
| 2026-01-13 | $71.15 | 1,724,900 |
| 2026-01-12 | $71.12 | 1,645,200 |
| 2026-01-09 | $70.25 | 1,705,100 |
| 2026-01-08 | $70.55 | 1,851,000 |
| 2026-01-07 | $70.20 | 1,883,200 |
| 2026-01-06 | $70.23 | 2,149,500 |
| 2026-01-05 | $71.56 | 1,439,600 |
About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2025, the Company owned and operated a portfolio of 2,674 properties, located in all 50 states and containing approximately 55.5 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange.
đ° Latest News
Is Agree Realty (ADC) Offering Value After Mixed Signals From DCF And P/E Multiples
Simply Wall St. âĸ 2026-01-31T18:12:56Z
Agree Realty (ADC) Valuation Check As Income Investors Reassess Its Resilient Retail Portfolio
Simply Wall St. âĸ 2026-01-31T06:09:23Z
Realty Income Gains 7.8% in a Month: What Should Investors Do?
Zacks âĸ 2026-01-30T15:44:00Z
Monthly Payouts & Expanding Reach: Can Realty Income Deliver?
Zacks âĸ 2026-01-15T17:21:00Z
Why Investors Need to Take Advantage of These 2 Finance Stocks Now
Zacks âĸ 2026-01-12T14:00:02Z
A Look At Agree Realty (ADC) Valuation As Recent Trading And P/E Premium Draw Attention
Simply Wall St. âĸ 2026-01-08T16:12:36Z
Insiders Put $1 Million on the Line in These 2 Stocks â Why It Could Pay to Follow Their Move
TipRanks âĸ 2026-01-08T11:04:11Z
Does Record 2025 Deployments And 2026 Guidance Shift The Bull Case For Agree Realty (ADC)?
Simply Wall St. âĸ 2026-01-08T05:09:28Z
3 Stocks That Cut You a Check Each Month
Motley Fool âĸ 2026-01-06T21:35:00Z
How Agree Realty's $1.55B 2025 Investments Shape Its 2026 Outlook
Zacks âĸ 2026-01-06T15:24:00Z
Income Statement (Annual)
Revenue
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Reconciled Cost Of Revenue | $41,613,000 | $33,621,000 | $18,944,000 | $16,777,000 |
| Cost Of Revenue | $74,849,000 | $66,717,000 | $52,281,000 | $41,061,000 |
| Total Revenue | $617,095,000 | $537,495,000 | $429,814,000 | $339,323,000 |
| Operating Revenue | $616,822,000 | $537,403,000 | $429,632,000 | $339,067,000 |
Expenses
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Interest Expense | $108,904,000 | $81,119,000 | $63,435,000 | $50,378,000 |
| Total Expenses | $319,069,000 | $277,782,000 | $215,972,000 | $162,246,000 |
| Rent Expense Supplemental | $1,618,000 | $1,664,000 | $1,617,000 | $1,552,000 |
| Other Income Expense | $5,016,000 | $-5,137,000 | $5,488,000 | $-1,422,000 |
| Other Non Operating Income Expenses | $732,000 | $189,000 | $1,162,000 | $170,000 |
| Net Non Operating Interest Income Expense | $-108,904,000 | $-81,119,000 | $-63,435,000 | $-50,378,000 |
| Interest Expense Non Operating | $108,904,000 | $81,119,000 | $63,435,000 | $50,378,000 |
| Operating Expense | $244,220,000 | $211,065,000 | $163,691,000 | $121,185,000 |
| General And Administrative Expense | $37,233,000 | $34,788,000 | $30,121,000 | $25,456,000 |
| Total Other Finance Cost | - | - | $63,435,000 | $50,378,000 |
Income & Earnings
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Net Income From Continuing Operation Net Minority Interest | $189,197,000 | $169,959,000 | $152,437,000 | $122,273,000 |
| Net Interest Income | $-108,904,000 | $-81,119,000 | $-63,435,000 | $-50,378,000 |
| Normalized Income | $185,008,020 | $175,195,648 | $148,190,363 | $123,834,488 |
| Net Income From Continuing And Discontinued Operation | $189,197,000 | $169,959,000 | $152,437,000 | $122,273,000 |
| Total Operating Income As Reported | $302,243,000 | $254,387,000 | $218,085,000 | $190,269,000 |
| Net Income Common Stockholders | $181,275,000 | $162,117,000 | $144,624,000 | $119,756,000 |
| Net Income | $189,197,000 | $169,959,000 | $152,437,000 | $122,273,000 |
| Net Income Including Noncontrolling Interests | $189,832,000 | $170,547,000 | $153,035,000 | $122,876,000 |
| Net Income Continuous Operations | $189,832,000 | $170,547,000 | $153,035,000 | $122,876,000 |
| Pretax Income | $194,138,000 | $173,457,000 | $155,895,000 | $125,277,000 |
| Special Income Charges | $4,284,000 | $-5,326,000 | $4,326,000 | $-1,592,000 |
| Operating Income | $298,026,000 | $259,713,000 | $213,842,000 | $177,077,000 |
| Depreciation Amortization Depletion Income Statement | $206,987,000 | $176,277,000 | $133,570,000 | $95,729,000 |
| Depreciation And Amortization In Income Statement | $206,987,000 | $176,277,000 | $133,570,000 | $95,729,000 |
| Gross Profit | $542,246,000 | $470,778,000 | $377,533,000 | $298,262,000 |
Per Share Metrics
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Diluted EPS | $1.78 | $1.70 | $1.83 | $1.78 |
| Basic EPS | $1.79 | $1.70 | $1.84 | $1.79 |
Other
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Tax Effect Of Unusual Items | $95,020 | $-89,352 | $79,363 | $-30,512 |
| Tax Rate For Calcs | $0 | $0 | $0 | $0 |
| Normalized EBITDA (Bullshit earnings) | $538,981,000 | $469,275,000 | $381,911,000 | $297,260,000 |
| Total Unusual Items | $4,284,000 | $-5,326,000 | $4,326,000 | $-1,592,000 |
| Total Unusual Items Excluding Goodwill | $4,284,000 | $-5,326,000 | $4,326,000 | $-1,592,000 |
| Reconciled Depreciation | $240,223,000 | $209,373,000 | $166,907,000 | $120,013,000 |
| EBITDA (Bullshit earnings) | $543,265,000 | $463,949,000 | $386,237,000 | $295,668,000 |
| EBIT | $303,042,000 | $254,576,000 | $219,330,000 | $175,655,000 |
| Diluted Average Shares | $101,876,304 | $95,437,412 | $79,164,386 | $67,139,079 |
| Basic Average Shares | $101,099,252 | $95,191,409 | $78,659,333 | $66,802,242 |
| Diluted NI Availto Com Stockholders | $181,275,000 | $162,117,000 | $144,624,000 | $119,756,000 |
| Otherunder Preferred Stock Dividend | $485,000 | $405,000 | $376,000 | $369,000 |
| Preferred Stock Dividends | $7,437,000 | $7,437,000 | $7,437,000 | $2,148,000 |
| Minority Interests | $-635,000 | $-588,000 | $-598,000 | $-603,000 |
| Tax Provision | $4,306,000 | $2,910,000 | $2,860,000 | $2,401,000 |
| Gain On Sale Of Ppe | $11,508,000 | $1,849,000 | $5,341,000 | $14,941,000 |
| Write Off | $7,224,000 | $7,175,000 | $1,015,000 | $1,919,000 |
| Selling General And Administration | $37,233,000 | $34,788,000 | $30,121,000 | $25,456,000 |
| Other Gand A | $37,233,000 | $34,788,000 | $30,121,000 | $25,456,000 |
| Other Special Charges | - | - | - | $14,614,000 |
Balance Sheet (Annual)
Assets
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Net Tangible Assets | $4,645,109,000 | $4,345,123,000 | $3,829,550,000 | $2,745,667,000 |
| Total Assets | $8,486,446,000 | $7,774,836,000 | $6,713,189,000 | $5,226,906,000 |
| Total Non Current Assets | $8,373,631,000 | $7,673,716,000 | $6,618,439,000 | $5,122,538,000 |
| Other Non Current Assets | $90,586,000 | $76,308,000 | $77,923,000 | $83,407,000 |
| Goodwill And Other Intangible Assets | $864,937,000 | $854,088,000 | $799,448,000 | $672,020,000 |
| Other Intangible Assets | $864,937,000 | $854,088,000 | $799,448,000 | $672,020,000 |
| Current Assets | $112,815,000 | $101,120,000 | $94,750,000 | $104,368,000 |
| Assets Held For Sale Current | $0 | $3,642,000 | $0 | $5,676,000 |
| Restricted Cash | $0 | $3,617,000 | $1,146,000 | $1,998,000 |
| Receivables | $106,416,000 | $82,954,000 | $65,841,000 | $53,442,000 |
| Accounts Receivable | $106,416,000 | $82,954,000 | $65,841,000 | $53,442,000 |
| Cash Cash Equivalents And Short Term Investments | $6,399,000 | $10,907,000 | $27,763,000 | $43,252,000 |
| Cash And Cash Equivalents | $6,399,000 | $10,907,000 | $27,763,000 | $43,252,000 |
Debt
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Net Debt | $2,779,022,000 | $2,400,014,000 | $1,912,255,000 | $1,644,377,000 |
| Total Debt | $2,831,670,000 | $2,447,748,000 | $1,976,732,000 | $1,720,704,000 |
| Long Term Debt And Capital Lease Obligation | $2,831,670,000 | $2,447,748,000 | $1,976,732,000 | $1,720,704,000 |
| Long Term Debt | $2,785,421,000 | $2,410,921,000 | $1,940,018,000 | $1,687,629,000 |
| Current Debt And Capital Lease Obligation | - | - | - | $160,000,000 |
| Current Debt | - | - | - | $160,000,000 |
Liabilities
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Total Liabilities Net Minority Interest | $2,975,785,000 | $2,574,683,000 | $2,082,799,000 | $1,807,590,000 |
| Total Non Current Liabilities Net Minority Interest | $2,831,670,000 | $2,447,748,000 | $1,976,732,000 | $1,720,704,000 |
| Current Liabilities | $144,115,000 | $126,935,000 | $106,067,000 | $86,886,000 |
| Payables And Accrued Expenses | $144,115,000 | $126,935,000 | $106,067,000 | $86,886,000 |
| Payables | $144,115,000 | $126,935,000 | $106,067,000 | $86,886,000 |
| Dividends Payable | $27,842,000 | $25,534,000 | $22,345,000 | $16,881,000 |
| Accounts Payable | $116,273,000 | $101,401,000 | $83,722,000 | $70,005,000 |
| Other Non Current Liabilities | - | $36,827,000 | $36,714,000 | $33,075,000 |
Equity
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Common Stock Equity | $5,335,046,000 | $5,024,211,000 | $4,453,998,000 | $3,242,687,000 |
| Preferred Stock Equity | $175,000,000 | $175,000,000 | $175,000,000 | $175,000,000 |
| Total Equity Gross Minority Interest | $5,510,661,000 | $5,200,153,000 | $4,630,390,000 | $3,419,316,000 |
| Stockholders Equity | $5,510,046,000 | $5,199,211,000 | $4,628,998,000 | $3,417,687,000 |
| Gains Losses Not Affecting Retained Earnings | $40,076,000 | $16,554,000 | $23,551,000 | $-5,503,000 |
| Other Equity Adjustments | $40,076,000 | $16,554,000 | $23,551,000 | $-5,503,000 |
| Retained Earnings | $-470,622,000 | $-346,473,000 | $-228,132,000 | $-147,366,000 |
Other
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Preferred Shares Number | $7,000,000 | $7,000,000 | $7,000,000 | $7,000,000 |
| Ordinary Shares Number | $107,248,705 | $100,519,355 | $90,173,424 | $71,285,311 |
| Share Issued | $107,248,705 | $100,519,355 | $90,173,424 | $71,285,311 |
| Tangible Book Value | $4,470,109,000 | $4,170,123,000 | $3,654,550,000 | $2,570,667,000 |
| Invested Capital | $8,120,467,000 | $7,435,132,000 | $6,394,016,000 | $4,930,316,000 |
| Working Capital | $-31,300,000 | $-25,815,000 | $-11,317,000 | $17,482,000 |
| Capital Lease Obligations | $46,249,000 | $36,827,000 | $36,714,000 | $33,075,000 |
| Total Capitalization | $8,295,467,000 | $7,610,132,000 | $6,569,016,000 | $5,105,316,000 |
| Minority Interest | $615,000 | $942,000 | $1,392,000 | $1,629,000 |
| Additional Paid In Capital | $5,765,582,000 | $5,354,120,000 | $4,658,570,000 | $3,395,549,000 |
| Capital Stock | $175,010,000 | $175,010,000 | $175,009,000 | $175,007,000 |
| Common Stock | $10,000 | $10,000 | $9,000 | $7,000 |
| Preferred Stock | $175,000,000 | $175,000,000 | $175,000,000 | $175,000,000 |
| Long Term Capital Lease Obligation | $46,249,000 | $36,827,000 | $36,714,000 | $33,075,000 |
| Investment Properties | $7,418,108,000 | $6,743,320,000 | $5,741,068,000 | $4,367,111,000 |
| Line Of Credit | - | - | - | $160,000,000 |
Cash Flow Statement (Annual)
Free Cash Flow
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Free Cash Flow | $431,972,000 | $391,598,000 | $362,121,000 | $246,315,000 |
Operating Activities
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | $431,972,000 | $391,598,000 | $362,121,000 | $246,315,000 |
| Cash Flow From Continuing Operating Activities | $431,972,000 | $391,598,000 | $362,121,000 | $246,315,000 |
| Operating Gains Losses | $-7,153,000 | $-1,849,000 | $23,073,000 | $1,807,000 |
Investing Activities
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Investing Cash Flow | $-885,407,000 | $-1,274,997,000 | $-1,615,975,000 | $-1,386,615,000 |
| Cash Flow From Continuing Investing Activities | $-885,407,000 | $-1,274,997,000 | $-1,615,975,000 | $-1,386,615,000 |
| Net Other Investing Changes | $91,927,000 | $13,396,000 | $44,411,000 | $55,534,000 |
Financing Activities
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Repurchase Of Capital Stock | $-2,281,000 | $-2,684,000 | $-1,912,000 | $-1,813,000 |
| Issuance Of Capital Stock | $402,938,000 | $689,896,000 | $1,257,823,000 | $915,155,000 |
| Financing Cash Flow | $445,310,000 | $869,014,000 | $1,237,513,000 | $1,177,595,000 |
| Cash Flow From Continuing Financing Activities | $445,310,000 | $869,014,000 | $1,237,513,000 | $1,177,595,000 |
| Net Other Financing Charges | $-12,989,000 | $-4,558,000 | $-3,679,000 | $-7,746,000 |
| Cash Dividends Paid | $-311,041,000 | $-285,113,000 | $-227,742,000 | $-195,825,000 |
| Preferred Stock Dividend Paid | $-7,437,000 | $-7,437,000 | $-7,438,000 | $-1,529,000 |
| Common Stock Dividend Paid | $-303,604,000 | $-277,676,000 | $-220,304,000 | $-194,296,000 |
| Net Common Stock Issuance | $400,657,000 | $687,212,000 | $1,255,911,000 | $743,034,000 |
| Common Stock Issuance | $402,938,000 | $689,896,000 | $1,257,823,000 | $744,847,000 |
| Net Preferred Stock Issuance | - | $0 | $0 | $170,308,000 |
| Preferred Stock Issuance | - | $0 | $0 | $170,308,000 |
Other
| Metric | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Repayment Of Debt | $-1,148,039,000 | $-1,109,527,000 | $-1,119,490,000 | $-766,799,000 |
| Issuance Of Debt | $1,516,722,000 | $1,581,000,000 | $1,332,513,000 | $1,234,623,000 |
| Interest Paid Supplemental Data | $123,687,000 | $87,481,000 | $58,784,000 | $56,150,000 |
| Income Tax Paid Supplemental Data | $3,709,000 | $3,065,000 | $2,395,000 | $1,816,000 |
| End Cash Position | $6,399,000 | $14,524,000 | $28,909,000 | $45,250,000 |
| Beginning Cash Position | $14,524,000 | $28,909,000 | $45,250,000 | $7,955,000 |
| Changes In Cash | $-8,125,000 | $-14,385,000 | $-16,341,000 | $37,295,000 |
| Common Stock Payments | $-2,281,000 | $-2,684,000 | $-1,912,000 | $-1,813,000 |
| Net Issuance Payments Of Debt | $368,683,000 | $471,473,000 | $213,023,000 | $467,824,000 |
| Net Long Term Debt Issuance | $368,683,000 | $471,473,000 | $213,023,000 | $467,824,000 |
| Long Term Debt Payments | $-1,148,039,000 | $-1,109,527,000 | $-1,119,490,000 | $-766,799,000 |
| Long Term Debt Issuance | $1,516,722,000 | $1,581,000,000 | $1,332,513,000 | $1,234,623,000 |
| Net Investment Properties Purchase And Sale | $-977,334,000 | $-1,288,393,000 | $-1,660,386,000 | $-1,442,149,000 |
| Purchase Of Investment Properties | $-977,334,000 | $-1,288,393,000 | $-1,660,386,000 | $-1,442,149,000 |
| Change In Working Capital | $-2,571,000 | $5,419,000 | $20,738,000 | $3,149,000 |
| Change In Other Current Assets | $-4,800,000 | $121,000 | $4,891,000 | $-3,231,000 |
| Change In Payables And Accrued Expense | $14,318,000 | $10,384,000 | $15,048,000 | $10,827,000 |
| Change In Receivables | $-12,089,000 | $-5,086,000 | $799,000 | $-4,447,000 |
| Changes In Account Receivables | $-12,089,000 | $-5,086,000 | $799,000 | $-4,447,000 |
| Other Non Cash Items | $-6,388,000 | $-7,405,000 | $-9,111,000 | $-8,247,000 |
| Stock Based Compensation | $10,805,000 | $8,338,000 | $6,464,000 | $4,798,000 |
| Asset Impairment Charge | $7,224,000 | $7,175,000 | $1,015,000 | $1,919,000 |
| Depreciation Amortization Depletion | $240,223,000 | $209,373,000 | $166,907,000 | $120,013,000 |
| Depreciation And Amortization | $240,223,000 | $209,373,000 | $166,907,000 | $120,013,000 |
| Amortization Cash Flow | $33,236,000 | $33,096,000 | $33,337,000 | $24,284,000 |
| Amortization Of Intangibles | $33,236,000 | $33,096,000 | $33,337,000 | $24,284,000 |
| Depreciation | $206,987,000 | $176,277,000 | $133,570,000 | $95,729,000 |
| Gain Loss On Investment Securities | $4,355,000 | - | $28,414,000 | $16,748,000 |
| Net Income From Continuing Operations | $189,832,000 | $170,547,000 | $153,035,000 | $122,876,000 |
| Net Short Term Debt Issuance | - | $127,000,000 | $-60,000,000 | $68,000,000 |
| Short Term Debt Payments | - | $-1,104,000,000 | $-1,095,000,000 | $-526,000,000 |
| Short Term Debt Issuance | - | $1,231,000,000 | $1,035,000,000 | $594,000,000 |
| Change In Payable | - | - | $15,048,000 | $10,827,000 |
| Change In Account Payable | - | - | $15,048,000 | $10,827,000 |