Agree Realty (ADC)
Real Estate · Net-lease retail REIT
A fully integrated net-lease REIT owning and managing 2,674 retail properties across all 50 US states, generating stable rent from national tenants with long average lease terms.
What Agree Realty does
Agree Realty Corporation is a fully integrated REIT focused on the ownership, acquisition, development, and management of net-leased retail properties. As of December 31, 2025, the company's portfolio consisted of 2,674 properties totaling approximately 55.5 million square feet of gross leasable area, located across all 50 US states and approximately 99.7% leased. The company's properties are primarily leased to national tenants under net lease agreements, where tenants are responsible for minimum rent and operating expenses, with a weighted average remaining lease term of approximately 7.8 years.
Themes: ["Net-lease REIT","Retail real estate","Long-term lease agreements","National tenant portfolios"]
Fundamentals
- Price$77.85 as of 2026-07-09 close
- Market cap$9.4B as of 2026-07-10
- 1-year return+9.7% as of 2026-07-09 close
- P/E42.75 as of 2026-07-10
- Net margin+29.3% as of 2026-07-10
- Gross margin+87.9% as of 2026-07-10
- ROE+3.6% as of 2026-07-10
- Debt / equity0.59 as of 2026-07-10
- Revenue growth (YoY)+17.8% as of 2026-07-10
- Revenue CAGR (3y)+18.7% SEC XBRL
- Beta0.48 as of 2026-07-10
Dividend: yield +4.1%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Economic downturns and elevated interest rates reduce property acquisition capacity and refinancing availability, impacting growth and returns","Tenant defaults and reduced rent collection during recessions due to poor tenant financial performance","Limited access to capital markets during adverse conditions constrains operational flexibility and distribution capacity"]
Competitors & peers
- Realty Income (O)
- STORE Capital (STOR)
- Spirit Realty Capital (SRC)
- Four Corners Property Trust (FCPT)
- Lexington Realty Trust (LXP)
- Getty Realty (GTY)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.