Agree Realty/$ADC
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Capital at risk
About Agree Realty
Agree Realty Corporation operates as a fully integrated real estate investment trust mainly focused on the ownership, acquisition, development and management of retail properties net leased to industry-tenants. The Company is mainly in the business of acquiring, developing and managing retail real estate. Some of its properties in the portfolio include Walmart, 7-Eleven, Wawa, Gerber Collision and others.
- Ticker
- $ADC
- Sector
- Real Estate
- Primary listing
- NYSE
- Employees
- 90
- Headquarters
- Royal Oak, United States
- Website
- www.agreerealty.com
Agree Realty Metrics
BasicAdvanced
$8.7B
37.69
$1.86
0.47
$3.16
4.57%
Price and volume
Market cap
$8.7B
Beta
0.47
52-week high
$82.08
52-week low
$69.56
Average daily volume
1.5M
Dividend rate
$3.16
Financial strength
Current ratio
0.271
Quick ratio
0.244
Long term debt to equity
0.506
Total debt to equity
0.59
Dividend payout ratio (TTM)
165.70%
Interest coverage (TTM)
2.55%
Profitability
EBITDA (TTM)
676.098
Gross margin (TTM)
87.66%
Net profit margin (TTM)
28.84%
Operating margin (TTM)
48.43%
Effective tax rate (TTM)
0.60%
Revenue per employee (TTM)
$8,660,000
Management effectiveness
Return on assets (TTM)
2.40%
Return on equity (TTM)
3.70%
Valuation
Price to earnings (TTM)
37.687
Price to revenue (TTM)
10.469
Price to book
1.37
Price to tangible book (TTM)
1.65
Price to free cash flow (TTM)
15.501
Free cash flow yield (TTM)
6.45%
Free cash flow per share (TTM)
4.52
Dividend yield (TTM)
4.51%
Forward dividend yield
4.57%
Growth
Revenue change (TTM)
18.17%
Earnings per share change (TTM)
10.53%
3-year revenue growth (CAGR)
17.29%
10-year revenue growth (CAGR)
25.71%
3-year earnings per share growth (CAGR)
1.84%
10-year earnings per share growth (CAGR)
-0.86%
3-year dividend per share growth (CAGR)
3.04%
10-year dividend per share growth (CAGR)
5.29%
Bulls say / Bears say
ADC delivered record investment activity in Q2 2026, investing approximately $502 million in 102 retail net-lease properties, while raising full-year 2026 investment guidance to $1.6 billion-$1.8 billion and AFFO-per-share guidance to $4.57-$4.59. (SEC)
Operating performance remained strong: Q2 AFFO per share rose 7.4% year over year to $1.14, occupancy was 99.8%, and the portfolio’s rent recapture rate was approximately 105%, supporting durable same-store growth and lease economics. (SEC)
ADC maintains a relatively conservative funding profile, with approximately $1.9 billion of liquidity, pro forma net debt to recurring EBITDA of 3.7x, no material debt maturities until 2028, and a monthly dividend raised 4.3% year over year to $0.267 per share. (SEC)
ADC’s rapid external growth has required substantial equity funding: it raised approximately $686 million of forward equity in the first half of 2026, while weighted-average common shares and units increased to 120.8 million from 115.3 million in Q4 2025, creating dilution risk. (SEC)
Although the portfolio is highly occupied, 34.2% of annualized base rent was from non-investment-grade tenants and the top 10 tenants represented 34.6% of rent as of June 30, 2026, leaving ADC exposed to tenant credit deterioration, bankruptcies, or concentrated lease losses. (SEC)
ADC’s increased 2026 investment target of $1.6 billion to $1.8 billion raises execution and capital-market risk: the company itself warns that acquisitions, development projects, financing availability, and interest-rate movements may adversely affect results. (SEC)
Data summarised monthly by Lightyear AI. Last updated on 9 Sept 2026.
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Funds containing Agree Realty
AllUSDGBPEUR
Fund name | Fund size | $ADC weighting |
|---|---|---|
iShares Developed Markets Property Yield$IDWP | $1.2B | 0.49% |
iShares Developed Markets Property Yield£IWDP | £859M | 0.49% |
SPDR S&P 400 US Mid Cap$SPY4 | $6.3B | 0.24% |
SPDR S&P 400 US Mid Cap£SPX4 | £4.7B | 0.24% |
iShares MSCI World Small Cap$WSML | $9B | 0.08% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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