ADC Stock Analysis: Agree Realty | NYSE
REIT - Retail | NYSE, USA | Market Cap: 9.215m USD | 12M Return: 6.6% | US0084921008 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 99.5M
EPS Trend: 68.3%
Qual. Beats: 2
Rev. Trend: 99.8%
Qual. Beats: -1
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust (REIT) that focuses on acquiring and developing retail properties net leased to leading omni-channel retailers. As of December 31, 2025, the companys portfolio comprised 2,674 properties spanning all 50 U.S. states, with approximately 55.5 million square feet of gross leasable area. Headquartered in Royal Oak, Michigan, Agree Realty has been operating since its incorporation in 1971 and has been listed on the New York Stock Exchange since its 1994 IPO.
Within the Real Estate sector, ADC operates as a Retail REIT, a specialized segment that owns and leases commercial retail space. Its net-lease business model typically involves long-term contracts where tenants are responsible for most property operating expenses, such as taxes, insurance, and maintenance, providing the landlord with more predictable rental income and reducing exposure to inflationary cost increases.
- Interest rate movements pressure net lease REIT cap rate spreads
- Acquisition pace and same-store rental growth drive AFFO expansion
- Tenant retail exposure creates consumer spending and e-commerce headwind risk
| Net Income: 225.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -0.09 > 1.0 |
| NWC/Revenue: -109.1% < 20% (prev -43.60%; Δ -65.54% < -1%) |
| CFO/TA 0.05 > 3% & CFO 534.0m > Net Income 225.0m |
| Net Debt (3.97b) to EBITDA (628.2m): 6.33 < 3 |
| Current Ratio: 0.14 > 1.5 & < 3 |
| Outstanding Shares: last quarter (120.5m) vs 12m ago 12.03% < -2% |
| Gross Margin: 69.85% > 18% (prev 87.74%; Δ -17.88% > 0.5%) |
| Asset Turnover: 7.93% > 50% (prev 7.26%; Δ 0.66% > 0%) |
| Interest Coverage Ratio: 2.38 > 6 (EBIT TTM 347.8m / Interest Expense TTM 146.4m) |
| A: -0.08 (Total Current Assets 143.7m - Total Current Liabilities 994.6m) / Total Assets 10.6b |
| B: -0.07 (Retained Earnings -698.0m / Total Assets 10.6b) |
| C: 0.04 (EBIT TTM 347.8m / Avg Total Assets 9.84b) |
| D: 1.60 (Book Value of Equity 6.52b / Total Liabilities 4.07b) |
| Altman-Z'' = 1.18 = BB |
| DSRI: 1.03 (Receivables 131.2m/108.1m, Revenue 779.6m/659.8m) |
| GMI: 1.26 (GM 87.74% / 69.85%) |
| AQI: 1.63 (AQ_t 0.17 / AQ_t-1 0.11) |
| SGI: 1.18 (Revenue 779.6m / 659.8m) |
| TATA: -0.03 (NI 225.0m - CFO 534.0m) / TA 10.6b) |
| Beneish M = -2.27 (Cap -4..+1) = BBB |
As of August 27, 2026, the stock is trading at USD 73.67 with a total of 1,223,391 shares traded. Over the past week, the price has changed by -0.97%, over one month by -8.11%, over three months by -1.41% and over the past year by +6.55%.
Current recommended Stop Loss: 72.10 (which is 2.1% or 1.4 ATR below the current price).
Agree Realty has received a consensus analysts rating of 4.29. Therefore, it is recommended to buy ADC.
- StrongBuy: 12
- Buy: 3
- Hold: 6
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 84.9 | 15.2% |
P/E Trailing = 39.7204
P/E Forward = 39.8406
P/S = 11.8197
P/B = 1.4482
P/EG = 0.1254
Revenue TTM = 779.6m USD
EBIT TTM = 347.8m USD
EBITDA TTM = 628.2m USD
Long Term Debt = 3.82b USD (from longTermDebt, last quarter)
Short Term Debt = 994.6m USD (from shortTermDebt, last quarter)
Debt = 3.99b USD (from shortLongTermDebtTotal, last quarter) + Leases 70.5m
Net Debt = 3.97b USD (calculated: Debt 3.99b - CCE 12.5m)
Enterprise Value = 13.2b USD (9.21b + Debt 3.99b - CCE 12.5m)
Interest Coverage Ratio = 2.38 (Ebit TTM 347.8m / Interest Expense TTM 146.4m)
EV/FCF = 24.70x (Enterprise Value 13.2b / FCF TTM 534.0m)
FCF Yield = 4.05% (FCF TTM 534.0m / Enterprise Value 13.2b)
FCF Margin = 68.49% (FCF TTM 534.0m / Revenue TTM 779.6m)
Net Margin = 28.87% (Net Income TTM 225.0m / Revenue TTM 779.6m)
Gross Margin = 69.85% ((Revenue TTM 779.6m - Cost of Revenue TTM 235.0m) / Revenue TTM)
Gross Margin QoQ = 19.97% (prev 87.60%)
Tobins Q-Ratio = 1.25 (Enterprise Value 13.2b / Total Assets 10.6b)
Interest Expense / Debt = 3.67% (Interest Expense 146.4m / Debt 3.99b)
Taxrate = 0.14% (360k / 262.7m)
NOPAT = 347.4m (EBIT 347.8m * (1 - 0.14%))
Current Ratio = 0.14 (Total Current Assets 143.7m / Total Current Liabilities 994.6m)
Debt / Equity = 0.61 (Debt 3.99b / totalStockholderEquity, last quarter 6.52b)
Debt / EBITDA = 6.33 (Net Debt 3.97b / EBITDA 628.2m)
Debt / FCF = 7.44 (Net Debt 3.97b / FCF TTM 534.0m)
Total Stockholder Equity = 6.23b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.29% (Net Income 225.0m / Total Assets 10.6b)
RoE = 3.61% (Net Income TTM 225.0m / Total Stockholder Equity 6.23b)
RoCE = 3.46% (EBIT 347.8m / Capital Employed (Equity 6.23b + L.T.Debt 3.82b))
RoIC = 3.28% (NOPAT 347.4m / Invested Capital 10.6b)
WACC = 4.43% (E(9.21b)/V(13.2b) * Re(4.76%) + D(3.99b)/V(13.2b) * Rd(3.67%) * (1-Tc(0.00)))
Discount Rate = 4.76% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 97.71 | Cagr: 8.47%
[DCF] Terminal Value 77.89% ; FCFF base≈506.9m ; Y1≈578.7m ; Y5≈842.5m
[DCF] Fair Price = 70.08 (EV 12.7b - Net Debt 3.97b = Equity 8.72b / Shares 124.4m; r=8.35% [WACC [floored]]; 5y FCF grow 14.51% → 2.50% )
EPS Correlation: 68.28 | EPS CAGR: 9.15% | SUE: 1.42 | # QB: 2
Revenue Correlation: 99.80 | Revenue CAGR: 15.91% | SUE: -1.17 | # QB: -1
EPS current Quarter (2026-09-30): EPS=0.48 | Chg30d=+1.21% | Revisions=+0% | Analysts=4
EPS current Year (2026-12-31): EPS=1.92 | Chg30d=-0.30% | Revisions=-40% | GrowthEPS=+4.8% | GrowthRev=+17.6%
EPS next Year (2027-12-31): EPS=1.93 | Chg30d=-0.16% | Revisions=-40% | GrowthEPS=+0.6% | GrowthRev=+13.1%
[Analyst] Revisions Ratio: -44% (up=1, down=5)