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NYSE · Real estateAgree Realty Corp (ADC)
Agree Realty Corp brought in $810.3M of revenue over the twelve months to September 30, 2026, up 17.7% from a year earlier. Net income was $241.1M, a net margin of 29.8%. At September 30, 2026 it held $80.6M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 20, 2026.
Key facts about Agree Realty Corp
- Net worth
- Agree Realty Corp has a market value (market cap) of $8.7B at the latest share price, and shareholders' equity of $6.9B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $718.4M (+16.4% year on year), with net income of $204.3M. Over the 12 months to September 30, 2026: revenue $810.3M, net income $241.1M.
- Cash flow
- In fiscal 2025 operations brought in $504.1M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 20, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Agree Realty Corp's next report is expected around February 9, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Agree Realty Corp declared dividends of $3.08 per share in fiscal 2025, a yield of 4.39% at the current price.
What Agree Realty Corp does
Agree Realty Corp is registered with the SEC under industry code SIC 6798 (Real Estate Investment Trusts). Its shares trade on NYSE under the ticker ADC.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $718.4M | $204.3M | $1.77 | n/a |
| 2024 | $617.1M | $189.2M | $1.78 | -$442.5M |
| 2023 | $537.5M | $170M | $1.70 | -$808.4M |
| 2022 | $429.8M | $152.4M | $1.83 | -$1.2B |
| 2021 | $339.3M | $122.3M | $1.78 | -$1.1B |
| 2020 | $248.6M | $91.4M | $1.74 | -$1.2B |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where ADC ranks in Real estate
Dividends
Agree Realty Corp declared $3.08 per share in fiscal 2025. At the current price that is a yield of 4.39%. It paid out $340.7M in cash dividends, 167% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $3.08 | $340.7M | 167% |
| 2024 | $3.00 | $303.6M | 160% |
| 2023 | $2.92 | $277.7M | 163% |
| 2022 | $2.81 | $220.3M | 145% |
| 2021 | $2.41 | $194.3M | 159% |
| 2020 | n/a | $116.1M | 127% |
Latest SEC filings
What Agree Realty Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 27, 2026Passive stake (5% or more) SCHEDULE 13G
- October 20, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 17% to $213.9M versus the same quarter last year; diluted EPS $0.53 versus $0.45.
- October 20, 2026
- October 2, 2026Other event 8-K
- September 22, 2026Material agreement8-KAgree Realty Corporation completed a public offering of $400 million in senior notes due in 2036.
- August 14, 2026Passive stake changed SCHEDULE 13G/A
- July 30, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 17% to $205.1M versus the same quarter last year; diluted EPS $0.44 versus $0.43.
- July 30, 2026
- July 2, 2026Other event 8-K
- May 15, 2026Passive stake changed SCHEDULE 13G/A
Insider trades
What the people running Agree Realty Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders bought $4.1M worth of shares on the open market in the last 90 days and sold none.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 21, 2026 | Agree RichardEXECUTIVE CHAIRMAN OF BOARD, Director | Gave as a gift | 4,025 | - |
| October 21, 2026 | Agree JoeyPRESIDENT & CEO, Director | Gave as a gift | 1,150 | - |
| October 21, 2026 | Agree JoeyPRESIDENT & CEO, Director | Gave as a giftindirect | 1,150 | - |
| September 21, 2026 | Erlich CraigCHIEF GROWTH OFFICER | Bought | 1,000 | $67.6K |
| September 16, 2026 | Agree JoeyPRESIDENT & CEO, Director | Bought | 7,360 | $500.9K |
| September 16, 2026 | Rakolta John JrDirector | Bought | 20,000 | $1.4M |
| August 31, 2026 | Rakolta John JrDirector | Bought | 10,000 | $724.2K |
| August 28, 2026 | Rakolta John JrDirector | Bought | 136 | $10K |
Who owns ADC
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Portfolio Management13G, passive | 8.56% | April 28, 2026 |
| BlackRock Portfolio Management LLC13G, passive | 5.4% | October 27, 2026 |
| Vanguard Capital Management13G, passive | 5.27% | April 29, 2026 |
Largest institutional holders
Insiders
15 insiders reported holding 2,110,179 shares in total, about $148.1M at the last price.
| Holder | Shares |
|---|---|
| Agree JoeyPRESIDENT & CEO, Director | 688,7275,112 held indirectly |
| Rakolta John JrDirector | 654,748146 held indirectly |
| Agree RichardEXECUTIVE CHAIRMAN OF BOARD, Director | 508,68790,512 held indirectly |
| Erlich CraigCHIEF GROWTH OFFICER | 60,388 |
| Lehmkuhl GregDirector | 34,465 |
| Coughenour PeterCHIEF FINANCIAL OFFICER | 26,656 |
| Spehar Danielle MGENERAL COUNSEL | 25,785 |
| Witteveen NicoleCHIEF OPERATING OFFICER | 23,274 |
| Dearing KarenDirector | 15,616 |
| Judlowe MichaelDirector | 15,317 |
Questions about ADC
What does Agree Realty Corp do?
Agree Realty Corp is a company in the Real estate sector, listed on NYSE as ADC. Its shares trade on NYSE under the ticker ADC.
What is Agree Realty Corp's net worth?
Agree Realty Corp has a market value (market cap) of $8.7B at the latest share price, and shareholders' equity of $6.9B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Agree Realty Corp profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $241.1M on revenue of $810.3M, a net margin of 29.8%.
How much revenue does Agree Realty Corp make?
Over the twelve months to September 30, 2026 Agree Realty Corp reported revenue of $810.3M. That is 17.7% more than a year earlier.
When did Agree Realty Corp last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 20, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the passive stake (5% or more) from October 27, 2026.
When is Agree Realty Corp's next earnings report?
Agree Realty Corp's next report is expected around February 9, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does Agree Realty Corp pay a dividend?
Yes. Agree Realty Corp declared dividends of $3.08 per share in fiscal 2025, a yield of 4.39% at the current price.
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Where the numbers come from
Financial figures are the values Agree Realty Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.