ADC

Agree Realty Corporation

Fundamental data last updated:November 4, 2026

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company profile

SECTOR

Real Estate

industry

REIT - Retail

Exchange

NYSE

County of HQ

US

Next Earnings Date

02/09/2027

Business Summary

Agree Realty Corporation functions as a publicly traded Real Estate Investment Trust (REIT), concentrating its efforts on the acquisition and development of commercial properties. These assets are primarily net-leased to leading companies within the retail sector. As of September 30, 2020, the firm oversaw a substantial portfolio of 1,027 properties, which were distributed across 45 U.S. states and encompassed a total gross leasable area of approximately 21.0 million square feet. Shares of Agree Realty's common stock are available for trade on the New York Stock Exchange, identified by the ticker symbol ADC.

 


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VALUATION

P/E

34.57

Market Cap ($M USD)

$8.34B

Forward P/E

35.07

PEG

4.88

PRICE TO SALES

10.30

PRICE TO BOOK

1.20

EV / EBITDA

18.45

5-Year Average P/E

Free Cash Flow Yield

6.28%

DCF Value

$171.34

Graham Number

$49.36

Price to FCF

15.92

EV to FCF

22.91

Earnings Yield

2.89%

FCF Yield

6.28%

DIVIDEND

Yield

4.75%

Annual Payout

$3.18

Payout Ratio

160.42%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$1.94

Next Year EPS Growth Estimate

$1.91

Next Year Revenue Growth Estimate

$839.56M

Return on Equity (ROE)

3.72%

FREE CASH FLOW

Operating Margin

49.27%

Debt-to-Equity

0.54

Piotroski F-Score

6

Altman Z-Score

1.34

Return on Invested Capital (ROIC)

3.70%

Current Ratio

1.21

Quick Ratio

1.21

Net Debt to EBITDA

5.63

Interest Coverage

2.62

Gross Profit margin

70.46%

FCF PER SHARE

$4.21

REVENUE PER SHARE

$6.52

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Gainseekers Quantitative Analysis

Summary

Agree Realty Corporation’s valuation presents a striking disconnect between market perception and intrinsic value. Based on the data at the time of this analysis, the stock traded significantly below its DCF value, suggesting a potential undervaluation. However, the Forward P/E of 35.24 and an earnings yield of just 2.91% indicate a premium pricing, which may not be justified given the modest ROIC of 3.70%. The Altman Z-score of 1.34 raises red flags about financial stability, hinting at potential distress. Overall, while the market cap is robust, the underlying financial health appears precarious.

AI Exposure / Tech Reliance

In the realm of AI and tech adaptation, Agree Realty, as a retail REIT, faces unique challenges. Its business model is less directly impacted by tech shifts compared to tech-centric industries. However, the integration of AI in property management and tenant services could enhance operational efficiency and tenant satisfaction.

The Bull Case

For the value-driven investor, Agree Realty offers compelling institutional tailwinds. The company boasts a solid operating margin of 49.27% and a respectable Piotroski F-Score of 6, indicating decent financial health. Its FCF yield, though modest, reflects a capacity for cash generation that supports its dividend. The ROIC of 3.70% suggests efficient capital allocation, which, combined with a strong gross profit margin, underscores its pricing power in the retail real estate sector.

The Bear Case

Despite some strengths, Agree Realty's structural risks cannot be ignored. The Forward PEG ratio of 5.77 signals overvaluation relative to growth expectations, and a payout ratio of 160.42% raises sustainability concerns. The stock's proximity to its 52-week low suggests potential technical weakness, and the high EV to EBITDA ratio of 18.38 further underscores its expensive valuation. These factors, coupled with a low Altman Z-score, paint a picture of vulnerability.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$76.50

Institutional Ownership %

1-Year Beta

0.42

Insider Buying % (6 Mo)

Distance to 52-Week High

22.38%

Distance to 52-Week Low

4.07%

EARNINGS SURPRISE %

143.18%

50-DAY SMA

$68.68

200-DAY SMA

$74.52

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.