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.
Agree Realty Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$70.99|
|52 Week High||US$61.27|
|52 Week Low||US$75.95|
|1 Month Change||-4.93%|
|3 Month Change||0.92%|
|1 Year Change||10.84%|
|3 Year Change||32.77%|
|5 Year Change||43.01%|
|Change since IPO||264.05%|
Recent News & Updates
Agree Realty Is Worthy Of A Premium Valuation
ADC has a rising investment grade retail exposure, as well as a growing ground lease sub-portfolio. The REIT recently proved the resiliency, fungibility, and anti-fragility of its properties. ADC also has the balance sheet strength to raise more low-cost debt as the opportunity arises.
|ADC||US REITs||US Market|
Return vs Industry: ADC underperformed the US REITs industry which returned 32.5% over the past year.
Return vs Market: ADC underperformed the US Market which returned 33.8% over the past year.
Stable Share Price: ADC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: ADC's weekly volatility (2%) has been stable over the past year.
About the Company
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 September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange under the symbol "ADC".
Agree Realty Fundamentals Summary
|ADC fundamental statistics|
Is ADC overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|ADC income statement (TTM)|
|Cost of Revenue||US$36.71m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||1.64|
|Net Profit Margin||32.83%|
How did ADC perform over the long term?See historical performance and comparison
3.7%Current Dividend Yield
Is Agree Realty undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ADC ($70.99) is trading below our estimate of fair value ($221.62)
Significantly Below Fair Value: ADC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ADC is poor value based on its PE Ratio (50.5x) compared to the US REITs industry average (50.1x).
PE vs Market: ADC is poor value based on its PE Ratio (50.5x) compared to the US market (17.8x).
Price to Earnings Growth Ratio
PEG Ratio: ADC is poor value based on its PEG Ratio (2.3x)
Price to Book Ratio
PB vs Industry: ADC is good value based on its PB Ratio (1.6x) compared to the US REITs industry average (2x).
How is Agree Realty forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ADC's forecast earnings growth (22.1% per year) is above the savings rate (2%).
Earnings vs Market: ADC's earnings (22.1% per year) are forecast to grow faster than the US market (14.8% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: ADC's revenue (19.7% per year) is forecast to grow faster than the US market (9.8% per year).
High Growth Revenue: ADC's revenue (19.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ADC's Return on Equity is forecast to be low in 3 years time (3.8%).
How has Agree Realty performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ADC has high quality earnings.
Growing Profit Margin: ADC's current net profit margins (32.8%) are lower than last year (41.8%).
Past Earnings Growth Analysis
Earnings Trend: ADC's earnings have grown by 17.1% per year over the past 5 years.
Accelerating Growth: ADC's earnings growth over the past year (8.7%) is below its 5-year average (17.1% per year).
Earnings vs Industry: ADC earnings growth over the past year (8.7%) exceeded the REITs industry 3.9%.
Return on Equity
High ROE: ADC's Return on Equity (3.1%) is considered low.
How is Agree Realty's financial position?
Financial Position Analysis
Short Term Liabilities: ADC's short term assets ($236.5M) exceed its short term liabilities ($59.7M).
Long Term Liabilities: ADC's short term assets ($236.5M) do not cover its long term liabilities ($1.6B).
Debt to Equity History and Analysis
Debt Level: ADC's debt to equity ratio (49.1%) is considered high.
Reducing Debt: ADC's debt to equity ratio has reduced from 70.8% to 49.1% over the past 5 years.
Debt Coverage: ADC's debt is not well covered by operating cash flow (12.6%).
Interest Coverage: ADC's interest payments on its debt are well covered by EBIT (3.3x coverage).
What is Agree Realty current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ADC's dividend (3.67%) is higher than the bottom 25% of dividend payers in the US market (1.33%).
High Dividend: ADC's dividend (3.67%) is in the top 25% of dividend payers in the US market (3.6%)
Stability and Growth of Payments
Stable Dividend: ADC's dividend payments have been volatile in the past 10 years.
Growing Dividend: ADC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (97.6%), ADC's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ADC's dividends in 3 years are forecast to be covered by earnings (67.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Joey Agree (42 yo)
Mr. Joel N. Agree, also known as Joey, has been the Chief Executive Officer at Agree Realty Corporation since January 8, 2013 and its President and Director since June 8, 2009. Mr. Agree served as the Chie...
CEO Compensation Analysis
Compensation vs Market: Joey's total compensation ($USD7.29M) is about average for companies of similar size in the US market ($USD6.43M).
Compensation vs Earnings: Joey's compensation has increased by more than 20% in the past year.
Experienced Management: ADC's management team is considered experienced (2.5 years average tenure).
Experienced Board: ADC's board of directors are considered experienced (4.9 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: ADC insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 27.9%.
Agree Realty Corporation's employee growth, exchange listings and data sources
- Name: Agree Realty Corporation
- Ticker: ADC
- Exchange: NYSE
- Founded: 1971
- Industry: Retail REITs
- Sector: Real Estate
- Implied Market Cap: US$4.904b
- Market Cap: US$4.879b
- Shares outstanding: 69.08m
- Website: https://www.agreerealty.com
Number of Employees
- Agree Realty Corporation
- 70 East Long Lake Road
- Bloomfield Hills
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/19 22:01|
|End of Day Share Price||2021/09/17 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.