AGREE REALTY CORP

ADC

AGREE REALTY CORP

ADC

Insider Sentiment (TTM):

Last Purchase:2026-06-04Last Sale:-Shares Purchased (TTM):108,483Shares Sold (TTM):0

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:114,419,485Shares Outstanding:119,856,418Institutional Ownership Pct.:95.46%

Earnings Market Reaction:

Filing Date:2026-07-30Price on Filing Date:N/APrevious Close:N/A% Change:N/A

Subscribe to unlock 17+ years of financial data

Start 7-day free trial

Subscribe to unlock 17+ years of data

Start free trial

Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Real Estate Investment Pr…
Land	3,154	3,015	2,895	2,787	2,663	2,599	2,514	2,404	2,341	2,305	2,282	2,232
Investment Building And Building Improvements	6,798	6,570	6,330	6,124	5,872	5,648	5,413	5,197	5,062	4,938	4,862	4,750
Real Estate Investment Property Accumulated Deprec…	-801	-759	-716	-678	-639	-601	-564	-526	-495	-464	-434	-404
Development In Process	93	60	63	64	62	50	56	53	45	42	33	36
Real Estate Investment Property Net	9,244	8,886	8,573	8,297	7,959	7,697	7,418	7,128	6,953	6,821	6,743	6,614
Cash And Cash Equivalents At Carrying Value	13	25	16	14	6	8	6	13	10	6	11	6
Escrow Deposit	9	6	4	3	3	3	0	-	15	9	4	0
Accounts Receivable Net	131	130	122	118	108	105	106	98	95	91	83	78
Finite Lived Intangible Asset Acquired In Place Le…	1,079	1,033	1,001	967	923	897	865	838	838	841	854	849
Other Assets	102	97	81	85	83	89	91	94	91	94	76	96
Assets	10,587	10,180	9,798	9,484	9,085	8,801	8,486	8,184	8,001	7,869	7,775	7,647
Secured Debt	41	41	42	42	42	42	42	42	43	43	43	43
Unsecured Debt	696	597	348	348	348	348	347	347	347	347	347	347
Senior Notes	2,587	2,586	2,585	2,584	2,583	2,238	2,238	2,237	2,236	1,795	1,794	1,794
Line Of Credit	-	-	-	-	-	322	158	49	43	330	227	49
Dividends Payable Current And Noncurrent	34	32	32	30	29	29	28	27	26	26	26	25
Accounts Payable And Accrued Liabilities Current A…	141	154	139	162	132	130	116	142	106	112	101	107
Below Market Lease Net	71	62	60	57	50	47	46	45	37	37	37	37
Liabilities	4,067	3,941	3,526	3,611	3,430	3,156	2,976	2,890	2,838	2,689	2,575	2,402
Stockholders Equity Inclu…
Preferred Stock Value	175	175	175	175	175	175	175	175	175	175	175	175
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital	6,993	6,677	6,679	6,248	5,993	5,948	5,766	5,535	5,357	5,354	5,354	5,352
Accumulated Distributions In Excess Of Net Income	-698	-653	-619	-581	-545	-508	-471	-434	-401	-378	-346	-316
Accumulated Other Comprehensive Income Loss Net Of…	50	41	36	32	32	29	40	18	31	27	17	33
Stockholders Equity	6,520	6,239	6,271	5,873	5,654	5,645	5,510	5,295	5,163	5,179	5,200	5,245
Minority Interest	-0	0	0	0	0	0	1	1	1	1	1	1
Liabilities And Stockholders Equity	10,587	10,180	9,798	9,484	9,085	8,801	8,486	8,184	8,001	7,869	7,775	7,647
Common Stock Shares Issued	124	120	120	114	111	110	107	104	101	101	101	101
Shares Outstanding	124	120	120	114	111	110	107	104	101	101	101	101
Series A Preferred Stock	0	0	0	0	0	1	0	0	0	0	-	0
Finite Lived Intangible Assets Accumulated Amortiz…	641	609	577	546	517	488	461	435	409	383	360	335
Below Market Lease Accumulated Amortization	53	51	50	49	48	47	46	45	44	43	43	41
Preferred Stock Par Or Stated Value Per Share	-	-	-	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Authorized	-	-	-	4	4	4	4	4	4	4	4	4
Common Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Shares Authorized	360	360	360	360	360	180	180	180	180	180	180	180

Subscribe to unlock 17+ years of financial data, unlimited metrics, and saved tables

Start 7-day free trial

Subscribe to unlock 17+ years of data, unlimited metrics, and saved tables

Start free trial

Custom Table

10‑Q10‑K

0/5

Search a metric to start building a table

Subscribe to unlock 17+ years of financial data, unlimited metrics, transformations, and saved visuals

Start 7-day free trial

Subscribe to unlock 17+ years of data, unlimited metrics, transformations, and saved visuals

Start free trial

Interactive Financial Visualizations

10‑Q10‑K

Stock Price:

OnOff

Transformations:

0/1

Search a metric to start building a visual

Subscribe to unlock 17+ years of financial data

Start 7-day free trial

Subscribe to unlock 17+ years of data

Start free trial

Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-5.25%	-3.16%	-0.10%	-	-	-	-	-	-	-	-	-
2025	-4.99%	-5.14%	-8.54%	1.99%	-0.32%	5.44%	-1.27%	-3.65%	-4.98%	6.68%	0.81%	0.84%
2024	5.62%	7.35%	12.87%	7.42%	15.81%	11.35%	1.49%	0.06%	-8.05%	5.07%	3.26%	6.24%
2023	-	-	-	-3.93%	-11.58%	-14.51%	6.63%	13.30%	16.77%	1.00%	-1.37%	3.93%
Earnings Market Reaction data beyond 3 years is for subscribers only. Unlock the full earnings market reaction history Start 7-day free trial

Subscribe to unlock 17+ years of financial data and 90+ calculated metrics

Start 7-day free trial

Subscribe to unlock 17+ years of data and 90+ calculated metrics

Start free trial

Performance and Valuation Metrics

Rows marked with a lock icon are subscribers only — subscribe to unlock 90+ calculated metrics and 17+ years of history.

Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Leverage & Debt
Interest Coverage TTM	2.53	2.58	2.53	2.54	2.56	2.69	2.78	2.90	3.03	3.02	3.14	3.21
Per Share Metrics
Diluted EPS TTM	1.84	1.81	1.84	1.69	1.63	1.73	1.78	1.81	1.79	1.65	1.70	1.68
Free Cash Flow Per Share TTM	-9.07	-8.08	-8.44	-8.54	-7.11	-6.06	-4.40	-2.88	-4.91	-6.33	-8.56	-10.65
Dividend Per Share TTM	3.04	2.95	3.08	2.96	2.91	2.90	3.00	2.98	2.93	2.86	2.92	2.74
Margin Metrics
Gross Profit Margin TTM	-	-	-	-	-	-	-	-	-	115.63%	115.09%	114.83%
Operating Profit Margin TTM	47.93%	48.05%	47.40%	46.96%	47.08%	48.77%	49.00%	49.32%	48.86%	47.19%	47.34%	47.61%
Net Profit Margin TTM	28.38%	29.02%	28.45%	27.33%	27.33%	29.18%	29.47%	30.71%	30.82%	29.59%	30.24%	31.99%
Growth Metrics
Net Revenue Growth (1Y)	18.17%	17.79%	16.43%	14.68%	13.17%	13.62%	14.78%	17.76%	20.65%	22.34%	25.08%	26.03%
Net Income Growth (1Y)	22.70%	17.11%	12.43%	2.06%	0.34%	12.06%	11.84%	13.04%	10.31%	6.21%	6.62%	15.94%
EPS Growth (1Y)	12.23%	4.60%	2.66%	-7.93%	-8.26%	4.98%	5.30%	9.52%	2.29%	-4.65%	-11.90%	-4.99%
Valuation Metrics
P/E TTM	40.96	40.95	38.09	40.57	42.50	42.06	36.67	38.00	31.72	31.28	32.95	29.07
P/B TTM	1.39	1.43	1.24	1.30	1.35	1.38	1.21	1.32	1.10	1.00	1.03	0.90
P/S TTM	11.62	11.88	10.84	11.09	11.62	12.27	10.81	11.67	9.78	9.26	9.96	9.30
Market Cap	9.06B	8.91B	7.78B	7.63B	7.66B	7.81B	6.67B	7.00B	5.70B	5.19B	5.35B	4.74B
Enterprise Value	11.62B	11.46B	10.35B	10.20B	10.23B	10.04B	8.90B	9.23B	7.91B	6.97B	7.13B	6.53B
Calculated Values
Free Cash Flow TTM	-1.09B	-968.11M	-933.96M	-950.76M	-780.00M	-649.09M	-445.25M	-289.17M	-492.51M	-634.41M	-814.43M	-1.04B
Net Debt	2.57B	2.55B	2.56B	2.57B	2.57B	2.23B	2.23B	2.22B	2.21B	1.78B	1.78B	1.79B
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

Subscribe to unlock 17+ years of financial data

Start 7-day free trial

Subscribe to unlock 17+ years of data

Start free trial

Insider Transactions

2026-06-04Purchase

Owner: Agree, Richard

Title: EXECUTIVE CHAIRMAN OF BOARD

Shares: 5,000

Price/Share: $71.41

Value: $357,050.00

Shares Owned: 90,512

Relationship: Director,Officer

Ownership: Indirect

2026-05-15Purchase

Owner: Rakolta, John Jr

Title: -

Shares: 20,000

Price/Share: $74.57

Value: $1,491,400.00

Shares Owned: 595,798

Relationship: Director

Ownership: Direct

2026-05-14Purchase

Owner: Lehmkuhl, Greg

Title: -

Shares: 750

Price/Share: $75.09

Value: $56,317.50

Shares Owned: 34,465

Relationship: Director

Ownership: Direct

2026-05-14Purchase

Owner: Agree, Joey

Title: PRESIDENT & CEO

Shares: 13,295

Price/Share: $75.41

Value: $1,002,575.95

Shares Owned: 675,105

Relationship: Director,Officer

Ownership: Direct

2026-04-01Purchase

Owner: Rakolta, John Jr

Title: -

Shares: 146

Price/Share: $75.69

Value: $11,050.74

Shares Owned: 146

Relationship: Director

Ownership: Indirect

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-06-04	Agree, Richard	Director,Officer	EXECUTIVE CHAIRMAN OF BOARD	Indirect	Purchase	5,000	71.41	$357,050.00	90,512	4
2026-05-15	Rakolta, John Jr	Director	-	Direct	Purchase	20,000	74.57	$1,491,400.00	595,798	4
2026-05-14	Lehmkuhl, Greg	Director	-	Direct	Purchase	750	75.09	$56,317.50	34,465	4
2026-05-14	Agree, Joey	Director,Officer	PRESIDENT & CEO	Direct	Purchase	13,295	75.41	$1,002,575.95	675,105	4
2026-04-01	Rakolta, John Jr	Director	-	Indirect	Purchase	146	75.69	$11,050.74	146	4
2026-01-09	Coughenour, Peter	Officer	CHIEF FINANCIAL OFFICER	Direct	Purchase	500	69.80	$34,900.00	18,544	4
2026-01-09	Agree, Richard	Director,Officer	EXECUTIVE CHAIRMAN OF BOARD	Indirect	Purchase	24,000	70.67	$1,696,080.00	159,855	4
2025-12-24	Rakolta, John Jr	Director	-	Direct	Purchase	15,000	72.18	$1,082,700.00	562,606	4
2025-10-07	Rakolta, John Jr	Director	-	Direct	Purchase	25,154	70.41	$1,771,093.14	553,701	4
2025-10-03	Erlich, Craig	Officer	CHIEF GROWTH OFFICER	Direct	Purchase	360	70.85	$25,506.00	52,846	4
2025-10-02	Agree, Joey	Director,Officer	PRESIDENT & CEO	Direct	Purchase	3,528	70.63	$249,182.64	638,688	4
2025-09-05	Lehmkuhl, Greg	Director	-	Direct	Purchase	750	72.84	$54,630.00	27,684	4
2025-08-14	Agree, Joey	Director,Officer	PRESIDENT & CEO	Direct	Purchase	2,100	72.08	$151,368.00	635,160	4
2025-08-13	Agree, Joey	Director,Officer	PRESIDENT & CEO	Direct	Purchase	4,108	72.15	$296,392.20	633,060	4
2025-06-11	Rakolta, John Jr	Director	-	Direct	Purchase	10,000	74.34	$743,400.00	521,233	4
2025-04-08	Rakolta, John Jr	Director	-	Direct	Purchase	28,080	71.30	$2,002,104.00	507,810	4
2024-12-23	Rakolta, John Jr	Director	-	Direct	Purchase	10,000	70.07	$700,700.00	472,196	4
2024-05-23	Lehmkuhl, Greg	Director	-	Direct	Purchase	1,000	58.99	$58,990.00	23,036	4
2024-05-23	Rakolta, John Jr	Director	-	Direct	Purchase	20,000	59.32	$1,186,400.00	436,011	4
2024-03-14	Breslin, Stephen	Officer	CHIEF ACCOUNTING OFFICER	Direct	Purchase	450	55.33	$24,898.50	10,441	4
2024-02-29	Agree, Richard	Director,Officer	EXECUTIVE CHAIRMAN OF BOARD	Indirect	Purchase	16,000	55.50	$888,000.00	135,855	4
2024-02-21	Rakolta, John Jr	Director	-	Direct	Purchase	20,000	56.75	$1,135,000.00	412,651	4
2024-02-21	Agree, Joey	Director,Officer	PRESIDENT & CEO	Direct	Purchase	3,500	56.92	$199,220.00	561,403	4
2024-02-16	Rakolta, John Jr	Director	-	Direct	Purchase	20,430	57.00	$1,164,510.00	392,549	4
2024-02-15	Agree, Joey	Director,Officer	PRESIDENT & CEO	Direct	Purchase	2,000	57.56	$115,120.00	557,903	4
2024-01-10	Agree, Richard	Director,Officer	EXECUTIVE CHAIRMAN OF BOARD	Indirect	Purchase	10,500	62.57	$656,985.00	119,855	4
2023-12-21	Rakolta, John Jr	Director	-	Direct	Purchase	335	62.41	$20,907.35	381,500	4
2023-12-15	Lehmkuhl, Greg	Director	-	Direct	Purchase	1,700	61.17	$103,989.00	17,717	4
2023-12-11	Agree, Joey	Director,Officer	PRESIDENT & CEO	Direct	Purchase	1,300	58.49	$76,037.00	555,903	4
2023-10-02	Agree, Joey	Director,Officer	PRESIDENT & CEO	Direct	Purchase	4,000	53.84	$215,360.00	553,253	4
2023-09-28	Erlich, Craig	Officer	CHIEF GROWTH OFFICER	Direct	Purchase	1,800	55.25	$99,450.00	38,060	4
2023-09-26	Agree, Joey	Director,Officer	PRESIDENT & CEO	Direct	Purchase	10,000	56.10	$561,000.00	549,253	4
2023-09-26	Rakolta, John Jr	Director	-	Direct	Purchase	20,000	55.73	$1,114,600.00	380,056	4
2023-09-21	Rakolta, John Jr	Director	-	Direct	Purchase	30,000	57.48	$1,724,400.00	360,056	4
2023-08-15	Coughenour, Peter	Officer	CHIEF FINANCIAL OFFICER	Direct	Purchase	500	61.79	$30,895.00	6,543	4
2023-08-14	Erlich, Craig	Officer	CHIEF OPERATING OFFICER	Direct	Purchase	1,500	62.36	$93,540.00	36,651	4
2023-08-03	Agree, Richard	Director,Officer	EXECUTIVE CHAIRMAN OF BOARD	Indirect	Purchase	18,249	63.70	$1,162,461.30	109,355	4
2023-08-02	Agree, Richard	Director,Officer	EXECUTIVE CHAIRMAN OF BOARD	Indirect	Purchase	11,751	62.95	$739,725.45	100,230	4
2023-08-02	Agree, Joey	Director,Officer	PRESIDENT & CEO	Direct	Purchase	10,000	62.79	$627,900.00	539,253	4
2023-08-02	Rakolta, John Jr	Director	-	Direct	Purchase	30,000	63.02	$1,890,600.00	330,056	4
Additional insider transactions are for subscribers only. Unlock the complete Form 4 filing history Start 7-day free trial

Subscribe to unlock 17+ years of financial data

Start 7-day free trial

Subscribe to unlock 17+ years of data

Start free trial

Institutional Ownership

No data available for chart

2026-03-31

95.46%

Inst. Shares: 114,419,485

Shares Outstanding: 119,856,418

2025-12-31

98.42%

Inst. Shares: 108,974,312

Shares Outstanding: 110,723,375

2025-09-30

95.15%

Inst. Shares: 105,879,799

Shares Outstanding: 111,277,316

2025-06-30

95.72%

Inst. Shares: 105,063,303

Shares Outstanding: 109,758,046

2025-03-31

94.73%

Inst. Shares: 101,410,885

Shares Outstanding: 107,048,557

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	114,419,485	119,856,418	95.46%
2025-12-31	108,974,312	110,723,375	98.42%
2025-09-30	105,879,799	111,277,316	95.15%
2025-06-30	105,063,303	109,758,046	95.72%
2025-03-31	101,410,885	107,048,557	94.73%
2024-12-31	99,457,787	101,099,252	98.38%
2024-09-30	94,405,793	100,383,207	94.05%
2024-06-30	91,273,242	100,349,943	90.95%
2024-03-31	88,879,835	100,284,588	88.63%
2023-12-31	93,457,197	95,191,409	98.18%
2023-09-30	85,856,175	97,255,143	88.28%
2023-06-30	84,637,058	93,053,870	90.95%
Additional institutional holders are for subscribers only. Unlock the complete Form 13F ownership history Start 7-day free trial

AGREE REALTY CORP (ADC) — SEC Financial Statements & Analysis

AGREE REALTY CORP (ADC) is a real estate investment trusts company, incorporated in DE. AGREE REALTY CORP trades on NYSE as: ADC, ADC-PA. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), AGREE REALTY CORP reported a 18.17% year-over-year revenue growth, a Gross Profit Margin of 115.63% (TTM), a Price-to-Sales (P/S) ratio of 11.62x (TTM), a Price-to-Book (P/B) ratio of 1.39x (TTM), at a market cap of $9.06B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 18.17%
Gross Profit Margin TTM: 115.63%
P/S TTM: 11.62x
P/B TTM: 1.39x
Market Cap: $9.06B

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is AGREE REALTY CORP in?

AGREE REALTY CORP (ADC) operates in the Real Estate Investment Trusts industry.

What is ADC's market cap?

AGREE REALTY CORP (ADC) has a market capitalization of $9.06B as of 2026-06-30.

What is ADC's P/E ratio?

AGREE REALTY CORP (ADC)'s trailing twelve month P/E ratio is 40.96x as of 2026-06-30.

What exchange does ADC trade on?

AGREE REALTY CORP (ADC) trades on the NYSE.

Where is AGREE REALTY CORP incorporated?

AGREE REALTY CORP is incorporated in DE.