Agree Realty Corp. | REIT Profile
Symbol: ADC
CIK: 917251
Exchange: NYSE
Founded: 1971 (50 years)
HQ: Farmington Hills, MI, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Retail
See ADC on Google Finance
See ADC on Yahoo Finance
See ADC on SEC.gov
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See score breakdown | See trend
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More
Stock Chart
See in Advanced Graph ViewHightlights of Trading Day November 30, 2021
Closing Price: $67.56
Price Change: -1.91 (-2.749%)
Lowest Price: $67.56
Highest Price: $69.01
52-Week Low: $59.58
52-Week High: $74.99
52-Week Change: 10.17%
5 Day Price Change: 0.33%
1 Month Price Change: -1.92%
3 Month Price Change: -4.86%
6 Month Price Change: 0.71%
YTD Price Change: 7.98%
1 Year Price Change: 10.20%
2 Year Price Change: 0.76%
5 Year Price Change: 86.48%
Dividend of Trading Day November 30, 2021
Annualized Dividend: $2.724*
Dividend Yield (TTM): 4.232%
Annualized Dividend (TTM): $2.94
Ex-Dividend Date: 2021-11-29
Dividend Frequency: Monthly
*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.
Funds From Operations (FFO)
Key Stats of Trading Day November 30, 2021
Current Debt: $96,001,000
Revenue: $319,326,000
Gross Profit: $319,326,000
Total Revenue: $319,326,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $254,424,000
Revenue Per Share: $5
Revenue Per Employee: N/A
Employee: 2,018
Debt to Equity Ratio (D/E): 1.50
Enterprise Value (EV): $6,283,072,094
Enterprise Value to Revenue (EV/R): 19.68
Price to Sales (P/S): 15.18
Price to Book (P/B): 1.45
Price/Earnings-to-Growth (PEG) Ratio: -11.18
P/E Ratio: 38.17
P/E High: 38.40
P/E Low: 23.43
Forward P/E Ratio: 37.86
Market Capitalization: $4,714,319,775
Latest Volume: 750,845
Avg. Total Volume: 421,955
Avg. 10-Day Volume: 442,842
Avg. 30-Day Volume: 421,955
TTM EPS: 1.77
Shares Outstanding: 69,779,748
Float: N/A
50-Day Moving Avg.: $69.81
200-Day Moving Avg.: $70.54
Latest REIT Community Comments on #ADC
- I bought #ADC yesterday. - Rocco64 - 2020-12-29 12:21:25 - See full comment
- Based on the healthy payout ratio #ADC appears to be able to keep increasing their dividends for now. - Fyryr - 2020-12-26 22:20:46 - See full comment
- Hi Kev B. thanks for sharing Agree’s tenant break down, I was more concerned about their ability to collect rent during covid, but can tell now that many of their large tenants are big corporations offering necessary services. Business like Ulta and Hobby Lobby and Chick-fil-A also have a loyal customer base, which is good for #ADC that has shown itself to pick better properties and tenants. - 777i - 2020-12-20 10:02:01 - See full comment
Properties Owned by ADC
Properties Based on REIT's Official Presentation
| Properties | Types | States | Countries |
|---|---|---|---|
| 868 | 4 | 46 | 1 |
Please visit REIT’s official webpage for the most up-to-date property list.
Sample of REIT’s Properties. Image Source - REIT’s website
Properties Based on Earnings Report's 10-K
Occupancy Rate
Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.
REIT Simulation
Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.
| With $1,000 USD | With $500 USD | With $250 USD | With $100 USD | With $50 USD | |
|---|---|---|---|---|---|
| Initial investment | @ $74.18 per share you would have been able to buy 13 shares of ADC on 2020-12-01 costing $964.34 | @ $74.18 per share you would have been able to buy 6 shares of ADC on 2020-12-01 costing $445.08 | @ $74.18 per share you would have been able to buy 3 shares of ADC on 2020-12-01 costing $222.54 | @ $74.18 per share you would have been able to buy 1 shares of ADC on 2020-12-01 costing $74.18 | @ $74.18 per share you would have been able to buy 0 shares of ADC on 2020-12-01 costing $0.00 |
| Current worth | On 2021-11-30 these 13 shares would be worth $878.28 @ $67.56 | On 2021-11-30 these 6 shares would be worth $405.36 @ $67.56 | On 2021-11-30 these 3 shares would be worth $202.68 @ $67.56 | On 2021-11-30 these 1 shares would be worth $67.56 @ $67.56 | On 2021-11-30 these 0 shares would be worth $0.00 @ $67.56 |
| Dividends earned | $36.01 in dividends would have been earned since 2020-12-01 with 13 shares. | $17 in dividends would have been earned since 2020-12-01 with 6 shares. | $8.31 in dividends would have been earned since 2020-12-01 with 3 shares. | $2.77 in dividends would have been earned since 2020-12-01 with 1 shares. | $0.00 in dividends would have been earned since 2020-12-01 with 6 shares. |
| Net (gain / loss)* | -50.05 USD | -23.10 USD | -11.55 USD | -3.85 USD | 0.00 USD |
| ROI** | -5.19% | -5.19% | -5.19% | -5.19% | nan% |
*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.
Dividend History
Below are the most recent cash dividends paid by ADC. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.
| Symbol | Ex Date | Cash Amount | Change in Dividend | Declaration Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| ADC | 2021-10-28 | 0.227 | 4.61% | 2021-10-14 | 2021-10-29 | 2021-11-12 |
| ADC | 2021-09-29 | 0.217 | --- | 2021-09-17 | 2021-09-30 | 2021-10-14 |
| ADC | 2021-08-30 | 0.217 | --- | 2021-08-17 | 2021-08-31 | 2021-09-14 |
| ADC | 2021-07-29 | 0.217 | --- | 2021-07-15 | 2021-07-30 | 2021-08-13 |
| ADC | 2021-06-29 | 0.217 | --- | 2021-06-16 | 2021-06-30 | 2021-07-14 |
| ADC | 2021-05-27 | 0.217 | --- | 2021-05-17 | 2021-05-28 | 2021-06-11 |
| ADC | 2021-04-29 | 0.217 | 4.83% | 2021-04-15 | 2021-04-30 | 2021-05-14 |
| ADC | 2021-03-30 | 0.207 | --- | 2021-03-18 | 2021-03-31 | 2021-04-14 |
| ADC | 2021-02-25 | 0.207 | --- | 2021-02-11 | 2021-02-26 | 2021-03-12 |
| ADC | 2021-01-28 | 0.207 | -66.61% | 2021-01-14 | 2021-01-29 | 2021-02-12 |
| ADC | 2020-12-22 | 0.620 | 3.33% | 2020-12-01 | 2020-12-23 | 2021-01-06 |
| ADC | 2020-09-24 | 0.600 | --- | 2020-09-09 | 2020-09-25 | 2020-10-09 |
| ADC | 2020-06-25 | 0.600 | 2.56% | 2020-05-07 | 2020-06-26 | 2020-07-10 |
| ADC | 2020-03-26 | 0.585 | --- | 2020-02-25 | 2020-03-27 | 2020-04-09 |
| ADC | 2019-12-19 | 0.585 | 2.63% | 2019-12-03 | 2019-12-20 | 2020-01-03 |
| ADC | 2019-09-26 | 0.570 | --- | 2019-09-04 | 2019-09-27 | 2019-10-11 |
| ADC | 2019-06-27 | 0.570 | 2.70% | 2019-04-25 | 2019-06-28 | 2019-07-12 |
| ADC | 2019-03-28 | 0.555 | --- | 2019-02-26 | 2019-03-29 | 2019-04-12 |
| ADC | 2018-12-20 | 0.555 | 2.78% | 2018-12-04 | 2018-12-21 | 2019-01-04 |
| ADC | 2018-09-27 | 0.540 | --- | 2018-09-04 | 2018-09-28 | 2018-10-12 |
Financial Statements Overview
Balance Sheet | Quarterly
See Annual Balance Sheet | See Quarterly Balance Sheet
Amounts in USD ($)
| Balance Sheet | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|
| Current Cash | 177,046,000 | 7,369,000 | 6,137,000 | 14,715,000 |
| Receivables | 46,882,000 | 40,700,000 | 37,808,000 | 39,309,000 |
| Inventory | 0 | 0 | 0 | 0 |
| Current Assets | 235,263,000 | 48,069,000 | 43,945,000 | 55,539,000 |
| Current Assets (Other) | 0 | 0 | 0 | 0 |
| Short Term Investments | 0 | 0 | 0 | 0 |
| Long-term Investments | 4,529,260,000 | 4,230,333,000 | 3,842,238,000 | 3,492,075,000 |
| Property, Plant & Equipment Net | 3,853,994,000 | 3,575,025,000 | 3,304,179,000 | 3,015,606,000 |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 601,545,000 | 545,376,000 | 473,592,000 | 422,373,000 |
| Other Assets | 72,476,000 | 96,383,000 | 61,450,000 | 54,096,000 |
| Net Tangible Assets | 2,516,850,000 | 2,252,647,000 | 2,050,895,000 | 1,841,197,000 |
| Total Assets | 4,764,523,000 | 4,278,402,000 | 3,886,183,000 | 3,547,614,000 |
| Accounts Payable | 0 | 0 | 0 | 0 |
| Liabilities (Other) | 33,966,000 | 34,654,000 | 35,700,000 | 35,533,000 |
| Current Liabilities (Other) | 83,225,000 | 79,510,000 | 105,935,000 | 100,393,000 |
| Total Current Liabilities | 83,225,000 | 79,510,000 | 105,935,000 | 100,393,000 |
| Current Long-term Debt | 0 | 0 | 0 | 0 |
| Long-term Debt | 1,527,181,000 | 1,364,362,000 | 1,218,299,000 | 1,146,301,000 |
| Total Liabilities | 1,646,128,000 | 1,480,379,000 | 1,361,696,000 | 1,284,044,000 |
| Minority Interest | 1,756,000 | 1,853,000 | 1,762,000 | 1,817,000 |
| Common Stock | 64,835,984 | 62,828,897 | 55,468,499 | 2,384,337,000 |
| Retained Earnings | -121,619,000 | -101,137,000 | -91,343,000 | -80,627,000 |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Capital Surplus | 0 | 0 | 0 | 0 |
| Shareholder Equity | 3,118,395,000 | 2,798,023,000 | 2,524,487,000 | 2,263,570,000 |
Income Statement | Quarterly
See Annual Income Statement | See Quarterly Income Statement
Amounts in USD ($)
| Income Statement | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|
| Total Revenue | 82,546,000 | 77,829,000 | 71,414,000 | 63,810,000 |
| Cost of Revenue | 0 | 0 | 0 | 0 |
| Gross Profit | 82,546,000 | 77,829,000 | 71,414,000 | 63,810,000 |
| Research and Development | 0 | 0 | 0 | 0 |
| Selling General and Admin | 6,241,000 | 6,879,000 | 6,792,000 | 4,756,000 |
| Operating Expense | 39,190,000 | 37,951,000 | 35,897,000 | 30,032,000 |
| Operating Income | 43,356,000 | 39,878,000 | 35,517,000 | 33,778,000 |
| Income Expense Net (Other) | 0 | 0 | 0 | 0 |
| EBIT | 43,356,000 | 39,878,000 | 35,517,000 | 33,778,000 |
| Interest Income | 12,549,000 | 11,653,000 | 11,791,000 | 10,158,000 |
| Pretax Income | 22,946,000 | 31,287,000 | 24,022,000 | 21,722,000 |
| Income Tax | 485,000 | 1,009,000 | 260,000 | 306,000 |
| Minority Interest | 114,000 | 166,000 | 148,000 | 136,000 |
| Net Income | 22,276,000 | 30,009,000 | 23,400,000 | 21,280,000 |
| Net Income Basic | 22,276,000 | 30,009,000 | 23,400,000 | 21,280,000 |
Cash Flow | Quarterly
See Annual Cash Flow | See Quarterly Cash Flow
Amounts in USD ($)
| Cash Flow | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|
| Net Income | 22,276,000 | 30,009,000 | 23,400,000 | 21,280,000 |
| Depreciation | 23,187,000 | 21,489,000 | 66,758,000 | 47,067,000 |
| Changes in Receivables | 46,882,000 | 40,700,000 | 37,808,000 | 5,313,000 |
| Changes in Inventories | 0 | 0 | 0 | 0 |
| Cash Change | 177,046,000 | 7,369,000 | 6,137,000 | -14,626,000 |
| Cash Flow | 72,151,000 | 45,795,000 | 52,101,000 | 90,855,000 |
| Capital Expenditures | -344,309,000 | -397,044,000 | -19,617,000 | -964,974,000 |
| Investments | 0 | 0 | 0 | 0 |
| Investing Activity (Other) | 0 | 0 | 0 | 0 |
| Total Investing Cash Flows | -347,841,000 | -387,179,000 | -366,120,000 | -933,722,000 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Net Borrowings | 1,350,135,000 | 1,356,993,000 | 1,212,162,000 | 1,131,586,000 |
| Cash Flow Financing | 456,702,000 | 340,798,000 | 305,744,000 | 816,940,000 |
| Financing Cash Flows (Other) | 0 | 0 | 0 | 0 |
| Exchange Rate Effect | 0 | 0 | 0 | 0 |
About Agree Realty Corp.
Agree 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 March 31, 2018, the Company owned and operated a portfolio of 463 properties, located in 43 states and containing approximately 8.9 million square feet of gross leasable space. The common stock of Agree Realty Corporation is listed on the New York Stock Exchange under the symbol "ADC"
REITRating™ Scorecard
| Rating | Dividend Section | Avg. Rating |
|---|---|---|
| 2 | Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. | 3.6 |
| 10 | Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. | 6.4 |
| 10 | Dividend to AFFO Payout Ratio Health: Analysis of the REIT’s Dividend to AFFO Payout Ratios during the last four quarters. | 8.8 |
| 10 | Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. | 7.7 |
| Rating | AFFO & Efficiency Section | Avg. Rating |
| 10 | AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. | 7.8 |
| 9 | AFFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. | 6.9 |
| 10 | Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. | 8.6 |
| 10 | Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. | 9.1 |
| Rating | Leverage Section | Avg. Rating |
| 10 | Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. | 7.4 |
| 10 | Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. | 8.8 |
| 9 | Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. | 7.9 |
| 6 | Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. | 8.4 |
| 9 | Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. | 5.0 |
| 10 | Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. | 6.8 |
| Rating | Asset & Revenue Section | Avg. Rating |
| 10 | Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. | 5.4 |
| 10 | Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. | 6.1 |
| Rating | Properties Section | Avg. Rating |
| 10 | Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. | 7.1 |
| 9 | Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. | 6.3 |
| 9 | Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. | 8.2 |
| 7 | Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. | 8.0 |
| Rating | Market Cap Section | Avg. Rating |
| 4 | Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. | 5.2 |
| 8.8 | Overall REITRating™ Score (See trend) | 6.1 |
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.
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Last updated: 2021-12-01 - v2.4