Agree Realty (ADC) AI Stock Analysis

• Market Cap: $8.30B
• Dividend Yield: 4.07%
• Average Volume (3M): 1.01M
• Price to Earnings (P/E): 43.9
• Beta (1Y): 0.08
• Revenue Growth: 14.67%
• EPS Growth: -5.17%
• Country: US
• Employees: 75
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Retail
• EPS (TTM): 0.45
• Shares Outstanding: 110,666,080
• 10 Day Avg. Volume: 1,295,952
• 30 Day Avg. Volume: 1,008,593
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $82.56
• Price Target Upside: 9.87% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12

• Rating: 79 Outperform
• Price Target: $86.00 ▲(14.45% Upside)

Agree Realty's strong financial performance and positive earnings call sentiment are the primary drivers of its high score. While technical indicators suggest caution due to potential overbought conditions, the company's robust investment activity and solid dividend yield support its attractiveness. The high P/E ratio indicates some valuation concerns, but the overall outlook remains positive.

Positive Factors

Strong Investment Activity

Agree Realty's significant investment activity, with a 65% increase in guidance, indicates strategic growth and expansion, enhancing long-term revenue potential.

High Occupancy and Credit Rating

High occupancy rates and an A- credit rating reflect operational efficiency and financial stability, supporting sustainable cash flows and reduced financing costs.

Dividend Growth

The increase in dividends demonstrates Agree Realty's commitment to returning value to shareholders, supported by strong cash flow and financial health.

Negative Factors

Net Profit Margin Decline

A decline in net profit margins suggests rising costs or operational inefficiencies, which could pressure future profitability if not addressed.

Credit Loss Assumptions

Assumptions of credit loss indicate potential risks in tenant defaults, which could impact revenue stability and require careful management.

Minimal Dilution Impact

Even minimal dilution can affect earnings per share, potentially impacting investor perception and stock valuation over time.

Agree Realty Business Overview & Revenue Model

Company Description

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange under the symbol ADC.

How the Company Makes Money

Agree Realty generates revenue primarily through rental income from its portfolio of retail properties leased to tenants under long-term net lease agreements. These agreements typically require tenants to cover property expenses such as taxes, insurance, and maintenance, resulting in a relatively stable cash flow for the company. In addition to rental income, Agree Realty may also benefit from property appreciation and potential lease escalations over time, enhancing its overall revenue. The company strategically focuses on high-quality tenants with strong credit ratings, which minimizes default risk and supports reliable income streams. Furthermore, Agree Realty's growth is bolstered by its active acquisition strategy, allowing it to expand its portfolio and increase rental revenues, while partnerships with reputable retailers further solidify its position in the market.

Agree Realty Financial Statement Overview

Summary

Agree Realty showcases a robust financial profile with consistent revenue and cash flow growth, strong profit margins, and a stable balance sheet. However, slight declines in net profit margins and ROE warrant monitoring.

Income Statement

Agree Realty has demonstrated strong revenue growth over the past years, with a notable increase from $248.6M in 2020 to $659.8M in TTM (Trailing-Twelve-Months) 2025. Gross profit margins are robust, consistently above 80%, indicating effective cost management. However, the net profit margin has slightly decreased from 2024 to TTM 2025, reflecting increased expenses or operational costs.

Balance Sheet

The company's balance sheet shows a solid financial position with a high equity ratio of 62.2% in TTM 2025, indicating financial stability and a lower risk of financial distress. The debt-to-equity ratio remains moderate at 0.51, suggesting manageable leverage levels. Return on equity has slightly decreased, which could indicate potential challenges in generating profits from equity.

Cash Flow

Agree Realty's cash flow statements reveal a healthy operating cash flow, growing consistently over the years. The free cash flow has also shown significant growth, indicating strong cash-generating capabilities. The operating cash flow to net income ratio suggests effective cash conversion from net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	659.75M	617.10M	537.50M	429.81M	339.32M	248.57M
Gross Profit	578.84M	542.25M	470.78M	377.53M	298.26M	216.82M
EBITDA	567.37M	543.26M	463.95M	386.24M	295.67M	215.80M
Net Income	183.95M	189.20M	169.96M	152.44M	122.27M	91.38M
Balance Sheet
Total Assets	9.08B	8.49B	7.77B	6.71B	5.23B	3.89B
Cash, Cash Equivalents and Short-Term Investments	8.91M	6.40M	10.91M	27.76M	43.25M	6.14M
Total Debt	3.30B	2.83B	2.41B	1.94B	1.69B	1.22B
Total Liabilities	3.43B	2.98B	2.57B	2.08B	1.81B	1.36B
Stockholders Equity	5.65B	5.51B	5.20B	4.63B	3.42B	2.52B
Cash Flow
Free Cash Flow	478.15M	431.97M	391.60M	362.12M	246.31M	142.96M
Operating Cash Flow	478.15M	431.97M	391.60M	362.12M	246.31M	142.96M
Investing Cash Flow	-1.32B	-885.41M	-1.27B	-1.62B	-1.39B	-1.30B
Financing Cash Flow	827.48M	445.31M	869.01M	1.24B	1.18B	1.12B

Agree Realty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 75.14
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADC, the sentiment is Positive. The current price of 75.14 is above the 20-day moving average (MA) of 72.23, above the 50-day MA of 72.11, and above the 200-day MA of 72.44, indicating a bullish trend. The MACD of 0.96 indicates Negative momentum. The RSI at 67.00 is Neutral, neither overbought nor oversold. The STOCH value of 83.76 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ADC.

Agree Realty Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ADC	79 Outperform	$8.30B	43.87	3.47%	4.07%	14.67%	-5.17%
NNN	75 Outperform	$8.06B	20.30	9.18%	5.54%	4.82%	-5.18%
BRX	74 Outperform	$8.36B	24.98	11.52%	4.12%	5.98%	12.11%
FRT	71 Outperform	$8.65B	25.25	11.04%	4.39%	6.00%	15.77%
PECO	70 Outperform	$4.76B	65.25	3.01%	3.59%	10.31%	14.39%
KRG	68 Neutral	$4.96B	28.74	5.53%	4.67%	4.03%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%

Agree Realty Corporate Events

Agree Realty Corporation Reports Strong Q3 2025 Results

Agree Realty Corporation is a publicly traded real estate investment trust specializing in acquiring and developing properties net leased to leading omni-channel retail tenants across the United States. The company recently reported its third-quarter 2025 financial results, highlighting a significant increase in investment guidance and AFFO per share guidance for the year. During the third quarter of 2025, Agree Realty Corporation invested approximately $451 million in 110 retail net lease properties and commenced five development projects with a total committed capital of $51 million. The company reported a 7.9% increase in net income per share to $0.45 and an 8.4% increase in Core FFO per share to $1.09. Additionally, the company declared a monthly dividend of $0.256 per common share, marking a 2.4% year-over-year increase. Agree Realty Corporation’s balance sheet remains robust, with over $1.9 billion in liquidity and an A- issuer rating from Fitch Ratings. Looking ahead, the company has raised its full-year 2025 investment guidance to a range of $1.50 billion to $1.65 billion and increased its AFFO per share guidance to $4.31 to $4.33, reflecting confidence in its growth strategy and financial stability.

Agree Realty’s Earnings Call Highlights Robust Growth and Optimism

Agree Realty Corporation’s recent earnings call conveyed a strong and positive sentiment, underscoring the company’s robust investment volume, impressive financial performance, and significant achievements such as attaining an A- credit rating. While there were minor concerns regarding credit loss assumptions and minimal dilution impacts, the overall outlook remains optimistic, highlighting the company’s solid position in the market.

Agree Realty Reports Impact of Equity Offerings

On October 2, 2025, Agree Realty Corporation reported its weighted-average number of common shares outstanding for the three and nine months ending September 30, 2025. The announcement detailed the impact of forward equity offerings on the company’s diluted earnings per share, highlighting a significant increase in weighted-average incremental shares due to these offerings.

The most recent analyst rating on (ADC) stock is a Buy with a $80.00 price target. To see the full list of analyst forecasts on Agree Realty stock, see the ADC Stock Forecast page.