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ADCAgree Realty Corporation
$78.40$9.4B
Overview & Verdict
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ADC logoAgree Realty Corporation(ADC)Earnings, Financials & Key Ratios

ADC•NYSE•REIT / Real Estate
$78.40
44.3× P/E·Price updated Jul 7, 2026
SectorReal EstateIndustryRetail REITsSub-IndustryNet Lease Retail REITs
AboutAgree 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.Show more
  • Revenue$718M+16.4%
  • FFO$480M+11.8%
  • FFO/Share4.32+2.4%
  • FFO Payout70.96%+0.4%
  • FFO per Share4.32+2.4%
  • NOI Margin87.73%-0.2%
  • FFO Margin66.83%-4.0%
  • ROE3.47%-1.8%
  • ROA2.24%-3.9%

ADC Price & Volume

Agree Realty Corporation (ADC) stock price & volume — 10-year historical chart

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Aggressive Portfolio Expansion Drives Retail Revenue Growth

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Expanding
Profitability:Strong
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Rising Cost of Debt

Key Thesis Takeaways

  • Agree Realty Corporation demonstrates a consistent growth trajectory, evidenced by an 18.7% revenue increase in 2026Q1, supported by a disciplined triple-net lease model that maintains NOI margins near 88%.
  • While the company successfully scales its asset base from $7.8 billion in 2023Q4 to $10.2 billion in 2026Q1, investors should monitor the recent volatility in capital expenditures, which reached $412.3 million in 2026Q1.
  • The reliance on ATM equity programs to fund this expansion appears to maintain leverage stability, yet the significant divergence between GAAP earnings and cash flow warrants further investigation into long-term capital allocation efficiency.

Verdict Logic

while the company maintains a dividend payout ratio below 75% relative to AFFO, the recent $412.3 million spike in capital expenditures in 2026Q1 introduces liquidity risks that require further observation.

ADC Growth Metrics

Agree Realty Corporation (ADC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years26.23%
5 Years23.65%
3 Years18.68%
TTM17.78%

Profit CAGR

10 Years18.01%
5 Years17.46%
3 Years10.26%
TTM14.76%

EPS CAGR

10 Years-1.97%
5 Years0.34%
3 Years-1.11%
TTM5.08%

Return on Capital

10 Years4.3%
5 Years3.82%
3 Years3.71%
Last Year3.79%

ADC Recent Earnings

Agree Realty Corporation (ADC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
Apr 21, 2026
Metric
Actual
Est
EPS
$1.14+138.0%
$0.48
Rev
$201M+2.5%
$196M
Q1 2026
Feb 10, 2026
Metric
Actual
Est
EPS
$0.47-0.1%
$0.47
Rev
$190M+2.6%
$186M
Q4 2025
Oct 21, 2025
Metric
Actual
Est
EPS
$1.10+1.9%
$1.08
Rev
$183M-3.5%
$190M
Q3 2025
Jul 31, 2025
Metric
Actual
Est
EPS
$1.06+0.0%
$1.06
Rev
$176M-1.7%
$178M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 21, 2026
$1.14vs $0.48+138.0%
$201Mvs $196M+2.5%
Q1 2026Feb 10, 2026
$0.47vs $0.47-0.1%
$190Mvs $186M+2.6%
Q4 2025Oct 21, 2025
$1.10vs $1.08+1.9%
$183Mvs $190M-3.5%
Q3 2025Jul 31, 2025
$1.06vs $1.06+0.0%
$176Mvs $178M-1.7%
Based on last 12 quarters of dataView full earnings history →

Latest ADC News

Recent stock market news and headlines for Agree Realty Corporation (ADC)

PRNewsWire·Jun 24, 2026
ADC Therapeutics Announces Strategic Reorganization to Support ZYNLONTA® Growth Opportunities and Regulatory Priorities

Planned ~17% workforce reduction expected to generate annualized estimated savings of approximately $10M, enhancing financial flexibility Company focused on delivering upcoming regulatory and clinical milestones, including planned LOTIS-5 sBLA submission and full LOTIS-7 data by end of 2026 LAUSANNE, Switzerland, June 24, 2026 /PRNewswire/ -- ADC Therapeutics SA (NYSE: ADCT), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), today announced a strategic reorganization to focus resources behind key value-driving initiatives in support of the ZYNLONTA® (loncastuximab tesirine-lpyl) franchise. As part of the reorganization, ADC Therapeutics plans to reduce its workforce globally by approximately 17 percent.

Business Wire·Jun 23, 2026
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

AU, Switzerland & PRINCETON, N.J.--(BUSINESS WIRE)--Araris Biotech AG, a company advancing a differentiated pipeline of antibody-drug conjugates (“ADCs”) therapies, and Taiho Oncology, Inc., a company developing and commercializing novel treatments for hematologic malignancies and solid tumors, both members of the Taiho group, today announced that the first patient has been dosed in a Phase 1 clinical trial of ARC-02, a CD79b-targeted antibody-drug conjugate (ADC) for the treatment of non-Hodgk.

Business Wire·Jun 22, 2026
One Biosciences Receives BOOST Funding From Paris-Saclay Cancer Cluster to Advance the First Single-Cell Assay Approach for ADC Therapies

PARIS--(BUSINESS WIRE)-- #adc--One Biosciences receives Paris-Saclay Cancer Cluster (PSCC) BOOST grant to develop first single-cell assay for antibody-drug conjugates therapies.

Peers Comparison

Key metrics vs top competitors for Agree Realty Corporation (ADC)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ADC logoADCAgree Realty CorporationCurrent
$78.40$9.42B44.2916.42%28.45%3.47%3.91%
NNN logoNNNNNN REIT, Inc.
$47.44$9.03B22.926.55%41.38%8.81%—
O logoORealty Income Corporation
$64.01$59.69B54.719.07%18.94%2.8%—
EPRT logoEPRTEssential Properties Realty Trust, Inc.
$31.28$6.76B24.4424.97%43.28%6.3%—
NTST logoNTSTNETSTREIT Corp.
$21.96$2.18B267.8020.91%5.66%0.78%—
WPC logoWPCW. P. Carey Inc.
$71.24$15.62B33.768.89%26.02%6.29%—

Compare ADC vs Peers

Agree Realty Corporation (ADC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NNN

Most directly comparable listed peer for ADC.

Scale Benchmark

vs WMT

Larger-name benchmark to compare ADC against a more recognizable public peer.

Peer Set

Compare Top 5

vs NNN, O, EPRT, NTST

ADC SEC Filings & Documents

Agree Realty Corporation (ADC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 21, 2026·SEC

Material company update

Apr 2, 2026·SEC

Material company update

Feb 26, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 10, 2026·SEC

FY 2025

Feb 11, 2025·SEC

FY 2024

Feb 13, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 21, 2026·SEC

FY 2025

Oct 21, 2025·SEC

FY 2025

Jul 31, 2025·SEC

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ADC Frequently Asked Questions

Agree Realty Corporation (ADC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Agree Realty Corporation's revenue?

Agree Realty Corporation (ADC) reported $750.0M in revenue for fiscal year 2025. This represents a 4504% increase from $16.3M in 1996.

How fast is Agree Realty Corporation growing?

Agree Realty Corporation (ADC) grew revenue by 16.4% over the past year. This is strong growth.

Is ADC profitable?

Yes, Agree Realty Corporation (ADC) is profitable, generating $219.6M in net income for fiscal year 2025 (28.4% net margin).

Dividend & Returns
Does ADC pay dividends?

Yes, Agree Realty Corporation (ADC) pays a dividend with a yield of 3.91%. This makes it attractive for income-focused investors.

What is ADC's return on equity?

Agree Realty Corporation (ADC) has a return on equity (ROE) of 3.5%. This is below average, suggesting room for improvement.

Industry Metrics
What is Agree Realty Corporation's FFO?

Agree Realty Corporation (ADC) generated Funds From Operations (FFO) of $497.7M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is ADC a good dividend stock?

Agree Realty Corporation (ADC) offers a 3.91% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in ADC back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →