Agree Realty Corporation

Valuation Analysis

About the Company

Agree Realty Corporation is a publicly traded real estate investment trust. The Firm is Rethinking Retail through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2025, the Company owned and operated a portfolio of 2,674 properties, located in all 50 states and containing approximately 55.5 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange. Agree Realty Corporation was incorporated in 1971 and is based in Royal Oak, United States.

Agree Realty Corporation Stock at a Glance

Agree Realty Corporation (ADC) is currently trading at $75.83 with a market capitalization of $9.1B. The trailing P/E ratio stands at 40.99x, with a forward P/E of 38.82x. The 52-week range spans from $69.56 to $82.08; the current price is 7.6% below the yearly high. Year-over-year revenue growth stands at +18.7%. The net profit margin stands at 29.25%.

💰 Dividend

Agree Realty Corporation pays an annual dividend of $3.20 per share, representing a yield of 4.22%. The payout ratio stands at 168%. The elevated payout ratio reflects a mature dividend policy.

📊 Analyst Rating

18 analysts rate Agree Realty Corporation (ADC) on consensus: Buy. The average price target is $84.56, implying +11.51% from the current price. Analyst price targets range from $80.00 to $92.00.

Agree Realty Corporation: The Investment Case in Detail

Agree Realty Corporation (ADC) operates in the Real Estate — specifically REIT - Retail — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

The Bull Case

Revenue is growing at a healthy 18.7% pace year-over-year, suggesting the business model continues to find new customers and pricing power. With a gross margin near 87.64%, the company sits in the top tier of its industry — these are the kinds of structural margins that protect earnings during downturns. Free cash flow is positive and net margins stand at 29.25%, meaning reported earnings translate into real cash that can fund buybacks, dividends or strategic acquisitions.

The Bear Case

Our valuation screen flags the stock as overvalued — current multiples imply the business needs to deliver well above its recent trajectory to justify the price.

Valuation in Context

With a PEG ratio of 0.13, the price-to-earnings multiple is actually below the company's growth rate — classic value-meets-growth territory that Peter Lynch would have called a 'GARP' opportunity.

Investment Thesis: Strengths & Weaknesses

Technical Snapshot

Price shows short-term weakness (below 50d MA) but is still in a longer-term uptrend (above 200d MA).

Risk Profile

The data points to relatively defensive market behavior.

Trading Data

💵 Dividend Info

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