Inferra AI / Company / ADC
Agree Realty Corp
ADC · Real Estate
Last earnings Oct 20, 2026
Key results
Net incomequarter
$42.5 million
Net Income of $42.5 million for the comparable period in 2024.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Net Income per share for the three months ended September 30 th increased 7.9% to $0.45 compared to Net Income per share of $0.42 for the comparable period in 2024.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Net incomeytd
5.3%
Net Income per share for the nine months ended September 30 th decreased 5.3% to $1.30 compared to Net Income per share of $1.37 for the comparable period in 2024.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Net incomeQ3 2025
$1.30
Net Income per share for the nine months ended September 30 th decreased 5.3% to $1.30 compared to Net Income per share of $1.37 for the comparable period in 2024.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Free cash flowquarter
75%
13 Disciplined Capital Allocator CONSERVATIVE WACC CALCULATION DRIVES CONSISTENT & SUPERIOR EARNINGS GROWTH ADC WACC CALCULATION WEIGHTING FORM OF CAPITAL COST 75% Equity(1) 6.0% 25% Long-Term Debt(2) 5.1% WACC 5.7% PEER WACC CALCULATION WEIGHTING FORM OF CAPITAL COST 65% Equity(1) 6.0% 25% Five-Year Term Loan 4.0% 10% Free Cash Flow After Dividend 0.0% WACC 4.9% 150+ bps – Pedal to the Metal!
SEC original ↗Agree Realty Corp — Presentation / slide deck (8-K exhibit)EX-99Oct 21, 2025
Revenuequarter
$183,222 thousand
Total Revenues 183,222 154,332 527,909 456,361
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Operating expensesquarter
$13,173 thousand
Operating Expenses Real estate taxes 13,173 11,935 37,519 33,357
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
AI analysis
Q3 2025 · reported Oct 21, 2025
Based on: Earnings release + Q3 2025 deck + parent 8-K + 10-Q — transcript not held
Headline figures
| Metric | Q3 2025 | Prior qtr | Year ago |
|---|---|---|---|
| Net income | $42.5 million | — | — |
| Free cash flow | 75% | — | — |
| Revenue | $183,222 thousand | — | — |
| Operating expenses | $13,173 thousand | — | — |
Guidance · company-stated
Direction: Raised
“com FOR IMMEDIATE RELEASE Agree Realty Corporation Reports Third Quarter 2025 Results Raises 2025 Investment Guidance to $1.50 Bil lion to $1.65 Billion Increases 2025 AFFO Per Share Guidance to $4.31 to $4.33 Royal Oak, MI, October 21, 2025 -- Agree Realty Corporation (NYSE: ADC) (the Company ) today announced results for the quarter ended September 30, 2025.”
“Given our best-in-class portfolio and robust investment pipeline, we are increasing full-year 2025 investment guidance to a range of $1.50 billion to $1.65 billion and raising 2025 AFFO per share guidance to a range of $4.31 to $4.33.”
“The Company is increasing the lower end of its full-year 2025 disposition guidance range from $10 million to $25 million, while maintaining the upper end of the range at $50 million.”
Classified from the release's primary full-year outlook statement.
Cash flow & capex
Capital allocation
Dividend In the third quarter, the Company declared monthly cash dividends of $0.256 per common share for each of July, August and September 2025.
Event summary
Agree Realty Corp Q3 2025 — Net Income of $42.5 million for the comparable period in 2024.
Based on: Earnings release + Q3 2025 deck + parent 8-K + 10-Q — transcript not held
Guidance & outlook
Direction: Raised
Company outlook: “com FOR IMMEDIATE RELEASE Agree Realty Corporation Reports Third Quarter 2025 Results Raises 2025 Investment Guidance to $1.50 Bil lion to $1.65 Billion Increases 2025 AFFO Per Share Guidance to $4.31 to $4.33 Royal Oak, MI, October 21, 2025 -- Agree Realty Corporation (NYSE: ADC) (the Company ) today announced results for the quarter ended September 30, 2025.”
Company outlook: “Given our best-in-class portfolio and robust investment pipeline, we are increasing full-year 2025 investment guidance to a range of $1.50 billion to $1.65 billion and raising 2025 AFFO per share guidance to a range of $4.31 to $4.33.”
Company outlook: “The Company is increasing the lower end of its full-year 2025 disposition guidance range from $10 million to $25 million, while maintaining the upper end of the range at $50 million.”
Company outlook — Raised (“Raises”)
“com FOR IMMEDIATE RELEASE Agree Realty Corporation Reports Third Quarter 2025 Results Raises 2025 Investment Guidance to $1.50 Bil lion to $1.65 Billion Increases 2025 AFFO Per Share Guidance to $4.31 to $4.33 Royal Oak, MI, October 21, 2025 -- Agree Realty Corporation (NYSE: ADC) (the Company ) today announced results for the quarter ended September 30, 2025.”
Company outlook — Raised (“increasing”)
“Given our best-in-class portfolio and robust investment pipeline, we are increasing full-year 2025 investment guidance to a range of $1.50 billion to $1.65 billion and raising 2025 AFFO per share guidance to a range of $4.31 to $4.33.”
Company outlook — Raised (“increasing”)
“The Company is increasing the lower end of its full-year 2025 disposition guidance range from $10 million to $25 million, while maintaining the upper end of the range at $50 million.”
Classified from the release's primary full-year outlook statement.
Capital allocation
Dividend In the third quarter, the Company declared monthly cash dividends of $0.256 per common share for each of July, August and September 2025.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
The monthly dividends declared during the third quarter reflect an annualized dividend amount of $3.072 per common share, representing a 2.4% year-over-year increase.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
The dividends represent payout ratios of approximately 70% of Core FFO per share and 70% of AFFO per share, respectively.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
For the nine months ended September 30, 2025, the Company declared monthly cash dividends totaling $2.295 per common share, representing a 2.4% year-over-year increase.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
The dividends represent payout ratios of approximately 72% of Core FFO per share and 71% of AFFO per share, respectively.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Subsequent to quarter end, the Company declared a monthly cash dividend of $0.262 per common share for October 2025.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
Strategy & priorities
Forward-looking statements , which are based on certain assumptions and describe the Company s future plans, strategies and expectations, are generally identifiable by use of the words anticipate, estimate, should, expect, believe, intend, may, will, seek, could, project or other similar expressions.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
5 ADC’s Retail Thought Leadership  Launched acquisition platform in 2010 with a focus on e-commerce resistance  Launched RETHINK RETAIL campaign to challenge misperceptions about the future of brick & mortar  Published proprietary ADC White Papers highlighting omnichannel retail trends  Avoided or actively disposed of troubled retail sectors including theaters, pharmacy, car washes, health & fitness and entertainment retail  Early identification of promising retailers: © 2025 AGREE REALTY CORPORATION.
SEC original ↗Agree Realty Corp — Presentation / slide deck (8-K exhibit)EX-99Oct 21, 2025
6 Omni-Channel Vision IDENTIFIED CRITICAL ROLE OF NET LEASE IN DRIVING OMNI-CHANNEL STRATEGY “The strongest and most resilient retailers in today’s omni-channel world have embraced a comprehensive approach that blurs the historical lines between e-commerce distribution and brick & mortar operations.
SEC original ↗Agree Realty Corp — Presentation / slide deck (8-K exhibit)EX-99Oct 21, 2025
Nearly every retailer in our sandbox is focused on adding net new stores, underscoring the critical role that retail net lease assets play in an omnichannel retail world.
SEC original ↗Agree Realty Corp — Presentation / slide deck (8-K exhibit)EX-99Oct 21, 2025
Investment Grade Concentration Top 3 Sector Concentration(2) NOT DISCLOSED NOT DISCLOSED NOT DISCLOSED NOT DISCLOSED Disciplined Investment Strategy & Active Portfolio Management © 2025 AGREE REALTY CORPORATION.
SEC original ↗Agree Realty Corp — Presentation / slide deck (8-K exhibit)EX-99Oct 21, 2025
Risks & headwinds
Prior 2025 Revised 2025 Guidance (1) Guidance AFFO per share (2) $4.29 to $4.32 $4.31 to $4.33 General and administrative expenses (% of adjusted revenue) (3) 5.6% to 5.9% 5.7% to 5.9% Non-reimbursable real estate expenses (% of adjusted revenue) (3) 1.0% to 1.5% 1.0% to 1.5% Income and other tax expense $2.5 to $3 million $2 to $2.5 million Investment volume $1.4 to $1.6 billion $1.50 to $1.65 billion Disposition volume $10 to $50 million $25 to $50 million The Company s 2025 guidance is subject to risks and uncertainties more fully described in this press release and in the Company s filings with the Securities and Exchange Commission (the SEC ).
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company s control and which could materially affect the Company s results of operations, financial condition, cash flows, performance or future achievements or events.
SEC original ↗Agree Realty Corp — Earnings release (8-K exhibit)EX-99Oct 21, 2025
5 ADC’s Retail Thought Leadership  Launched acquisition platform in 2010 with a focus on e-commerce resistance  Launched RETHINK RETAIL campaign to challenge misperceptions about the future of brick & mortar  Published proprietary ADC White Papers highlighting omnichannel retail trends  Avoided or actively disposed of troubled retail sectors including theaters, pharmacy, car washes, health & fitness and entertainment retail  Early identification of promising retailers: © 2025 AGREE REALTY CORPORATION.
SEC original ↗Agree Realty Corp — Presentation / slide deck (8-K exhibit)EX-99Oct 21, 2025
The Company’s 2025 guidance is subject to risks and uncertainties more fully described in this presentation and in the Company’s filings with the Securities and Exchange Commission.
SEC original ↗Agree Realty Corp — Presentation / slide deck (8-K exhibit)EX-99Oct 21, 2025
These forward-looking statements are subject to various risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements.
SEC original ↗Agree Realty Corp — Presentation / slide deck (8-K exhibit)EX-99Oct 21, 2025
In making its evaluation, the Company considers, among other things, any risks and/or uncertainties to its results of operations, contractual obligations in the form of near-term debt maturities, dividend requirements, or other factors 12 Table of Contents impacting the Company s liquidity and capital resources.
SEC original ↗Agree Realty Corp — 10-Q Quarterly report10-QOct 20, 2026
Earnings deck slides
0 decks with slide viewAgree Realty Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Agree Realty Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Agree Realty Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Agree Realty Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Agree Realty Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Agree Realty Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Agree Realty Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Agree Realty Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
31 documents- Q3 2026
- 10-QADC
Oct 20, 2026
- 8-KADC
Oct 20, 2026
- 8-KADC
Oct 2, 2026
- Q2 2026
- 8-KADC
Sep 22, 2026
- 10-QADC
Jul 30, 2026
- 8-KADC
Jul 30, 2026
- 8-KADC
Jul 2, 2026
- Q1 2026
- 8-KADC
May 14, 2026
- 8-KADC
Apr 24, 2026
- 10-QADC
Apr 21, 2026
- 8-KADC
Apr 21, 2026
- 8-KADC
Apr 2, 2026
- Q4 2025
- 8-KADC
Feb 26, 2026
- 10-KADC
Feb 10, 2026
- 8-KADC
Feb 10, 2026
- 8-KADC
Jan 5, 2026
- EX-99ADC
Jan 5, 2026
- Q3 2025
- 8-KADC
Nov 18, 2025
- 10-QADC
Oct 21, 2025
- 8-KADC
Oct 21, 2025
- 8-KADC
Oct 2, 2025
- Q2 2025
- 8-KADC
Jul 31, 2025
- 10-QADC
Jul 31, 2025
- 8-KADC
Jul 2, 2025
- Q1 2025
- 8-KADC
May 23, 2025
- 8-KADC
May 16, 2025
- 8-KADC
May 16, 2025
- 8-KADC
Apr 25, 2025
- 8-KADC
Apr 22, 2025
- 10-QADC
Apr 22, 2025
- 8-KADC
Apr 3, 2025
Earnings releases
11 documentsPresentations
8 documents
Transcripts
0 documentsNo transcripts for Agree Realty Corp are held in this edition of the library.
Mentioned by
12 companiesOther tracked companies whose held documents mention Agree Realty Corp by name or ticker. A mention is counted once per document, from the document text the library holds.
“Analyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAntenna, FortiAP,… …Well over half a million customers trust Fortinet's solutions, which are among the most deployed, most patent”
Day One Biopharmaceuticals, Inc. (DAWN)
“for OJEMDA, EMA regulatory decision expected in 2026 Acquisition of DAY301 (PTK7-targeted ADC) meaningfully expands our pipeline Strong balance sheet with ~$452M cash1… …driving continued adoption and treatment durability through 2025 On label patien”
“ Protein in Corpus Callosum DISCOVERY May 27, 2026 Biohaven R&D Day76 Trop2 ADC FGFR3 … …and synergistic payloads profoundly inhibit DDR signaling, driving an accumulation of DNA damage that dramatically increases cell killing in rapidl”
“FDIC Financial Institution Letters (FIL - 64 - 2023), as of December 18, 2023; also total ADC (Acquisition, Development, and Construction) loans are well below 100% of Bank’s total capital for all periods presented… …is where the borrower owns the pr”
“ …the second half of 2026 8 STEEL MILLS MARKET ENVIRONMENT Imports* Nucor* Y/Y YTD* ADC* 2H 2026 Outlook Market Share Shipments • Underlying demand is strong and Lower Higher improving, indicating continued… …million Returns to NUE $479 million”
“jugates (ADCs). The acquisition strengthens the Novartis oncology pipeline with two lead ADC assets targeting B7-H3 and HER2 and a… …from our external business opportunities; the development or adoption of new technologies, including artificial inte”
“…CORPORATION. ALL RIGHTS RESERVED. Agree Realty Overview (NYSE: ADC) OUR COMPANY NET LEASE REIT FOCUSED ON THE ACQUISITION & DEVELOPMENT OF HIGH-QUALITY RETAIL PROPERTIES Founded in 1971 by Executive Chairman, Richard Agree…”
“release… … access” program. While community access has provided for a higher-than-average ADC growth rate and revenue growth rate at VITAS over the past two years, it adds pressure to the Medicare Cap due to patients accessing…”
“s. Liquidity and Cost of Capital Advantage 3.3% 3.8% 4.0% 4.1% 4.1% 4.2% 4.3% 4.4% 4.6% O ADC FCPT BNL… …lease REIT data based on company filings as of June 30, 2026. (1) After the payment of dividends and capital expenditures. Liquidity and Cost of ”
IDEAYA Biosciences, Inc. (IDYA)
“ld a Leading Precision Medicine Oncology Company 1L = line, AI = artificial intelligence, ADC = antibody drug conjugate, DDR = DNA damage repair, MTAP = methylthioadenosine phosphorylase IDEAYA…”
“ other federal securities laws, including statements regarding BeiGene’s ability… …FGFR2b-ADC on track to enter the clinic in the second half of 2024. Other Business Highlights • The U.S. Patent and Trademark Office (USPTO) granted the Company’s peti”
“venue growth ZW191 & ZW251 Phase 1 trials initiated ZW209 IND anticipated in 2026 Pan-RAS ADC platform unveiled … …Coupon: 8.25% Maturity: 2036 ▼ 25% share to Zymeworks Capital for allocation to R&D, acquisitions and share repurchases Optional prepay”
See also the earnings calendar for every tracked company’s next earnings date.