Earnings summaries and quarterly performance for AGREE REALTY.
Executive leadership at AGREE REALTY.
Joel Agree
Detailed
President and Chief Executive Officer
CEO
CE
Craig Erlich
Detailed
Chief Growth Officer
DS
Danielle Spehar
Detailed
General Counsel
NW
Nicole Witteveen
Detailed
Chief Operating Officer
PC
Peter Coughenour
Detailed
Chief Financial Officer and Secretary
RA
Richard Agree
Detailed
Executive Chairman of the Board
Board of directors at AGREE REALTY.
GL
Gregory Lehmkuhl
Detailed
Lead Independent Director
JR
Jerome Rossi
Detailed
Independent Director
JR
John Rakolta, Jr.
Detailed
Independent Director
KD
Karen Dearing
Detailed
Independent Director
LH
Linglong He
Detailed
Independent Director
MF
Merrie Frankel
Detailed
Independent Director
MH
Michael Hollman
Detailed
Independent Director
MJ
Michael Judlowe
Detailed
Independent Director
Research analysts who have asked questions during AGREE REALTY earnings calls.
Rich Hightower
Barclays
9 questions for ADC
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Upal Rana
KeyBanc Capital Markets
9 questions for ADC
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Michael Goldsmith
UBS
7 questions for ADC
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RK
Ronald Kamdem
Morgan Stanley
7 questions for ADC
Also covers: AAT, AHR, ALX +37 more
SA
Spenser Allaway
Green Street
6 questions for ADC
Also covers: BNL, CUBE, EPR +8 more
Brad Heffern
RBC Capital Markets
5 questions for ADC
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Eric Borden
BMO Capital Markets
5 questions for ADC
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JK
James Kammert
Evercore ISI
5 questions for ADC
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JG
Jana Galan
Bank of America
5 questions for ADC
Also covers: AHH, AVB, BXP +24 more
KB
Ki Bin Kim
Truist Securities
5 questions for ADC
Also covers: AKR, BNL, BRX +20 more
Linda Tsai
Jefferies
5 questions for ADC
Also covers: AKR, AMH, AVB +32 more
WG
Wesley Golladay
Robert W. Baird & Co.
5 questions for ADC
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John Kilichowski
Wells Fargo & Company
4 questions for ADC
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LY
Linda Yu Tsai
Jefferies Financial Group Inc.
4 questions for ADC
Also covers: AKR, BRX, EQR +11 more
RM
R.J. Milligan
Raymond James
4 questions for ADC
Also covers: CTO, FCPT, GLPI +5 more
SR
Smedes Rose
Citigroup
4 questions for ADC
Also covers: ALX, DEA, DRH +19 more
BR
Bennett Rose
Citigroup
3 questions for ADC
Also covers: DRH, EPR, EPRT +8 more
RS
Rob Stevenson
Janney Montgomery Scott
3 questions for ADC
Also covers: ALEX, CSR, CTO +8 more
AB
Alex Bacon
Baird
2 questions for ADC
Ami Probandt
UBS
2 questions for ADC
Also covers: AVB, CPT, CSR +5 more
FG
Farrell Granath
Bank of America
2 questions for ADC
Also covers: AHR, ARE, CTRE +15 more
HS
Haendel St. Juste
Mizuho Financial Group
2 questions for ADC
Also covers: AAT, AIV, AMH +21 more
Jamie Feldman
Wells Fargo & Company
2 questions for ADC
Also covers: AMH, ARE, AVB +19 more
Jenny Li
Morgan Stanley
2 questions for ADC
Also covers: EXR, GLPI, PSA +1 more
JG
Joanna Gajuk
Bank of America
2 questions for ADC
Also covers: ACHC, ADUS, AGL +22 more
Matteo Orsenigo
Deutsche Bank
2 questions for ADC
MG
Mitch Germain
Citizens JMP
2 questions for ADC
Also covers: ALEX, BNL, CIGI +17 more
Nick Joseph
Citigroup Inc.
2 questions for ADC
Also covers: AIV, ARE, AVB +22 more
SG
Spenser Glimcher
Green Street Advisors, LLC
2 questions for ADC
Also covers: CUBE, EPR, NNN +4 more
WJ
William John Kilichowski
Wells Fargo
2 questions for ADC
Also covers: CTRE, EPR, EPRT +14 more
Robert Stevenson
Janney Montgomery Scott LLC
1 question for ADC
Also covers: AHH, AIV, ALEX +17 more
S
Sam
Deutsche Bank
1 question for ADC
Also covers: ARDX, AUTL, OHI +2 more
SA
Samuel A.A. Ohiomah
Deutsche Bank
1 question for ADC
Also covers: NSA
Sheryl Kaul
Wells Fargo & Company
1 question for ADC
TO
Tayo Okusanya
M Science
1 question for ADC
Also covers: ARE, BRX, PSA
Recent press releases and 8-K filings for ADC.
Agree Realty Corporation Updates on Financial Position and 2026 Outlook
ADC
Guidance Update
Debt Issuance
New Projects/Investments
- Agree Realty Corporation reported total liquidity exceeding $2.5 billion as of February 23, 2026, with no material debt maturities until 2028.
- The company has over $1.3 billion in outstanding forward equity and maintains investment grade issuer ratings of A- from Fitch, Baa1 from Moody's, and BBB+ from S&P.
- ADC announced $1.55 billion in investment activity for 2025 and increased its 2026 investment guidance to $1.4 billion to $1.6 billion.
- The company introduced 2026 AFFO per share guidance of $4.54 to $4.58, reflecting 5.4% growth at the midpoint.
1 day ago
Agree Realty Announces Q4 2025 Results and 2026 Guidance
ADC
Guidance Update
New Projects/Investments
Dividends
- Agree Realty provided 2026 AFFO per share guidance of $4.54 to $4.58, representing 5.4% growth at the midpoint, and increased its 2026 investment guidance to $1.4 billion to $1.6 billion.
- In 2025, the company deployed $1.55 billion into high-quality retail net lease assets, including $347 million acquired in Q4 2025 at a weighted-average cap rate of 7.1%.
- The company reported a fortress balance sheet with over $2.0 billion in liquidity and no material debt maturities until 2028. It holds investment grade issuer ratings of A- from Fitch, Baa1 from Moody's, and BBB+ from S&P, all with stable outlooks.
- Agree Realty declared a monthly cash dividend of $0.262 per common share for February, marking a 3.6% year-over-year increase.
Feb 11, 2026, 2:00 PM
Agree Realty Reports Strong 2025 Results and Raises 2026 Investment Guidance
ADC
Earnings
Guidance Update
New Projects/Investments
- Agree Realty reported full-year 2025 AFFO per share of $4.33, representing a 4.6% year-over-year increase, and Core FFO per share of $4.28, a 5.1% year-over-year increase.
- The company initiated full-year 2026 AFFO per share guidance of $4.54-$4.58 and increased its 2026 investment guidance to a range of $1.4 billion-$1.6 billion, which is approximately a 10% increase from the prior range.
- In 2025, ADC invested nearly $1.6 billion in 338 retail net lease properties across 41 states, with acquisitions completed at a weighted average cap rate of 7.2% and roughly two-thirds of rents coming from investment-grade retailers.
- The balance sheet concluded 2025 with over $2 billion of liquidity, including over $715 million of outstanding forward equity, and a pro forma net debt to recurring EBITDA of 3.8x. The company also achieved an A- rating from Fitch in August.
- At year-end 2025, the portfolio was approaching 2,700 properties across all 50 states, with investment-grade exposure at nearly 67% and occupancy increasing to 99.7%.
Feb 11, 2026, 2:00 PM
Agree Realty Announces Q4 and Full Year 2025 Results and 2026 Guidance
ADC
Earnings
Guidance Update
New Projects/Investments
- Agree Realty invested nearly $1.6 billion in 338 retail net lease properties across 41 states during the full year 2025, with acquisitions completed at a weighted average cap rate of 7.2%.
- At year-end 2025, the portfolio included nearly 2,700 properties across all 50 states, featuring an investment-grade exposure of nearly 67% and an occupancy rate of 99.7%.
- The company provided initial 2026 AFFO per share guidance of $4.54-$4.58, indicating approximately 5.4% year-over-year growth at the midpoint.
- Agree Realty declared monthly cash dividends of $0.262 per common share for Q4 2025, totaling an annualized dividend of over $3.14 per share, a 3.6% increase year-over-year.
Feb 11, 2026, 2:00 PM
ADC Reports Q4 and Full-Year 2025 Results, Provides 2026 Guidance
ADC
Earnings
Guidance Update
New Projects/Investments
- Agree Realty reported Q4 2025 AFFO per share of $1.11, a 6.5% year-over-year increase, and full-year 2025 AFFO per share of $4.33, representing 4.6% year-over-year growth.
- The company initiated full-year 2026 AFFO per share guidance of $4.54-$4.58, which at the midpoint represents 5.4% year-over-year growth.
- ADC increased its 2026 investment guidance to a range of $1.4 billion-$1.6 billion, approximately a 10% increase from its prior range. For the full year 2025, the company invested nearly $1.6 billion in 338 retail net lease properties at a weighted average cap rate of 7.2%.
- Agree Realty ended 2025 with over $2 billion of liquidity and a pro forma net debt to recurring EBITDA of 3.8x, with no material debt maturities until 2028. The company also received an A- rating from Fitch.
- The portfolio concluded 2025 with nearly 67% investment-grade exposure and 99.7% occupancy across approximately 2,700 properties.
Feb 11, 2026, 2:00 PM
Agree Realty Reports Strong Q4 and Full-Year 2025 Results, Provides Upbeat 2026 Guidance
ADC
Earnings
Guidance Update
Dividends
- Agree Realty Corporation reported Q4 2025 AFFO per share of $1.11, an increase of 6.5% year-over-year, and full-year 2025 AFFO per share of $4.33, up 4.6% from the prior year.
- The company provided initial 2026 AFFO per share guidance of $4.54 to $4.58, representing 5.4% growth at the midpoint, and increased its 2026 investment guidance to $1.4 billion to $1.6 billion.
- For the full year 2025, Agree Realty invested approximately $1.55 billion in 338 retail net lease properties and declared dividends totaling $3.081 per share, a 2.7% year-over-year increase.
- As of December 31, 2025, the company maintained a strong financial position with over $2.0 billion of liquidity and an A- issuer rating from Fitch Ratings.
Feb 10, 2026, 9:05 PM
Agree Realty Corporation Reports Fourth Quarter and Full Year 2025 Results
ADC
Earnings
Guidance Update
New Projects/Investments
- Agree Realty Corporation reported Q4 2025 AFFO per share of $1.11, an increase of 6.5%, and full-year 2025 AFFO per share of $4.33, an increase of 4.6%.
- The company provided initial 2026 AFFO per share guidance of $4.54 to $4.58 and increased its 2026 investment guidance to $1.4 billion to $1.6 billion.
- For the full year 2025, Agree Realty invested approximately $1.55 billion in 338 retail net lease properties and ended the year with over $2.0 billion of liquidity.
- Agree Realty declared a monthly dividend of $0.262 per common share for December 2025, a 3.6% year-over-year increase, and achieved an A- issuer rating from Fitch Ratings with a stable outlook in 2025.
Feb 10, 2026, 9:05 PM
Agree Realty Declares Monthly Common and Preferred Dividends
ADC
Dividends
- Agree Realty Corporation declared a monthly cash dividend of $0.262 per common share, which annualizes to $3.144 per common share.
- This annualized common dividend reflects a 3.6% increase over the annualized dividend from the first quarter of 2025 and is payable on March 13, 2026.
- Additionally, the company declared a monthly cash dividend of $0.08854 per depositary share for its 4.25% Series A Cumulative Redeemable Preferred Stock, payable on March 2, 2026.
Feb 5, 2026, 9:05 PM
Agree Realty Announces 2025 Investment Activity and 2026 Investment Outlook
ADC
Guidance Update
New Projects/Investments
Debt Issuance
- Agree Realty Corporation announced 2025 total real estate investment volume of approximately $1.55 billion, which included $1.44 billion in acquisitions of 305 retail net lease properties at a weighted-average capitalization rate of 7.2%.
- The company provided 2026 investment guidance for retail net lease properties between $1.25 billion and $1.50 billion.
- As of December 31, 2025, Agree Realty reported over $2.0 billion in liquidity and no material debt maturities.
- In November 2025, the company entered into an unsecured $350 million 5.5-year term loan with a fixed interest rate of 4.02%. During Q4 2025, 5.9 million shares were settled under existing forward sale agreements, yielding approximately $428 million in net proceeds.
Jan 5, 2026, 9:06 PM
Agree Realty Announces 2025 Investment Activity and 2026 Outlook
ADC
Guidance Update
New Projects/Investments
Debt Issuance
- Agree Realty's total real estate investment volume for 2025 reached approximately $1.55 billion, including $1.44 billion in acquisitions at a weighted-average capitalization rate of 7.2% and a weighted-average remaining lease term of 11.5 years.
- For 2026, the company anticipates investment volume, encompassing acquisitions, development, and DFP platforms, to be between $1.25 billion and $1.50 billion.
- As of December 31, 2025, Agree Realty maintained strong liquidity of over $2.0 billion, which includes approximately $1.3 billion in credit facility availability and over $716 million in outstanding forward equity. The company also secured a $350 million term loan in November 2025, with an interest rate fixed at 4.02%.
Jan 5, 2026, 9:05 PM
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