Agree Realty
Market Cap
US$4.3b
Last Updated
2021/04/12 22:04 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer and good value.
Similar Companies
Share Price & News
How has Agree Realty's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ADC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: ADC's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
-1.7%
ADC
0.4%
US REITs
0.9%
US Market
1 Year Return
6.5%
ADC
24.4%
US REITs
57.9%
US Market
Return vs Industry: ADC underperformed the US REITs industry which returned 18.3% over the past year.
Return vs Market: ADC underperformed the US Market which returned 56.3% over the past year.
Shareholder returns
| ADC | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.7% | 0.4% | 0.9% |
| 30 Day | 0.7% | 2.9% | 2.3% |
| 90 Day | 7.9% | 14.9% | 6.3% |
| 1 Year | 10.6%6.5% | 29.7%24.4% | 60.8%57.9% |
| 3 Year | 54.6%38.3% | 41.7%24.5% | 64.5%53.9% |
| 5 Year | 106.3%69.9% | 46.8%17.2% | 120.9%96.4% |
Long-Term Price Volatility Vs. Market
How volatile is Agree Realty's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Shareholders Of Agree Realty (NYSE:ADC) Must Be Happy With Their 116% Total Return1 month ago | Simply Wall St
Trade Alert: The Independent Director Of Agree Realty Corporation (NYSE:ADC), John Rakolta, Has Just Spent US$1.2m Buying 9.0% More Shares2 months ago | Simply Wall St
Is Agree Realty Corporation's (NYSE:ADC) Recent Stock Performance Influenced By Its Financials In Any Way?Valuation
Is Agree Realty undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ADC ($67.89) is trading below our estimate of fair value ($156.77)
Significantly Below Fair Value: ADC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ADC is good value based on its PE Ratio (38.6x) compared to the US REITs industry average (46.5x).
PE vs Market: ADC is poor value based on its PE Ratio (38.6x) compared to the US market (22.3x).
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 (1.8x).
Future Growth
How is Agree Realty forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
17.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ADC's forecast earnings growth (17% per year) is above the savings rate (2%).
Earnings vs Market: ADC's earnings (17% per year) are forecast to grow slower than the US market (18.6% per year).
High Growth Earnings: ADC's earnings are forecast to grow, but not significantly.
Revenue vs Market: ADC's revenue (17.3% per year) is forecast to grow faster than the US market (9.9% per year).
High Growth Revenue: ADC's revenue (17.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if ADC's Return on Equity is forecast to be high in 3 years time
Past Performance
How has Agree Realty performed over the past 5 years?
17.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ADC has high quality earnings.
Growing Profit Margin: ADC's current net profit margins (36.6%) are lower than last year (42.5%).
Past Earnings Growth Analysis
Earnings Trend: ADC's earnings have grown by 17% per year over the past 5 years.
Accelerating Growth: ADC's earnings growth over the past year (14.2%) is below its 5-year average (17% per year).
Earnings vs Industry: ADC earnings growth over the past year (14.2%) exceeded the REITs industry -4.4%.
Return on Equity
High ROE: ADC's Return on Equity (3.6%) is considered low.
Financial Health
How is Agree Realty's financial position?
Financial Position Analysis
Short Term Liabilities: ADC's short term assets ($49.2M) do not cover its short term liabilities ($77.8M).
Long Term Liabilities: ADC's short term assets ($49.2M) do not cover its long term liabilities ($1.3B).
Debt to Equity History and Analysis
Debt Level: ADC's debt to equity ratio (48.9%) is considered high.
Reducing Debt: ADC's debt to equity ratio has reduced from 70.8% to 48.9% over the past 5 years.
Debt Coverage: ADC's debt is not well covered by operating cash flow (11.6%).
Interest Coverage: ADC's interest payments on its debt are well covered by EBIT (3.2x coverage).
Balance Sheet
Dividend
What is Agree Realty current dividend yield, its reliability and sustainability?
3.67%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ADC's dividend (3.66%) is higher than the bottom 25% of dividend payers in the US market (1.26%).
High Dividend: ADC's dividend (3.66%) is in the top 25% of dividend payers in the US market (3.5%)
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 (75.2%), 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 (70.6% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.2yrs
Average management tenure
CEO
Joey Agree (41 yo)
8.25yrs
Tenure
US$7,285,613
Compensation
Mr. Joel N. Agree, also known as Joey, has been the Chief Executive Officer at Agree Realty Corporation since January 8, 2013 and its President and Director since June 8, 2009. Mr. Agree served as the Chie...
CEO Compensation Analysis
Compensation vs Market: Joey's total compensation ($USD7.29M) is above average for companies of similar size in the US market ($USD5.07M).
Compensation vs Earnings: Joey's compensation has increased by more than 20% in the past year.
Leadership Team
Experienced Management: ADC's management team is considered experienced (2.2 years average tenure).
Board Members
Experienced Board: ADC's board of directors are considered experienced (5.4 years average tenure).
Ownership
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
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 27.4%.
Top Shareholders
Company Information
Agree Realty Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Agree Realty Corporation
- Ticker: ADC
- Exchange: NYSE
- Founded: 1971
- Industry: Retail REITs
- Sector: Real Estate
- Implied Market Cap: US$4.328b
- Market Cap: US$4.304b
- Shares outstanding: 63.75m
- Website: https://www.agreerealty.com
Number of Employees
Location
- Agree Realty Corporation
- 70 East Long Lake Road
- Bloomfield Hills
- Michigan
- 48304
- United States
Listings
Biography
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 ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/04/12 22:04 |
| End of Day Share Price | 2021/04/12 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.