70.20
+0.47%
Close of 9 Nov 2026, in USD
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About Agree Realty
From its filings with the US Securities and Exchange Commission
Agree Realty is based in Royal Oak, Michigan and is incorporated in Delaware. Its shares trade on NYSE under the ticker ADC. The SEC classifies its business as real estate investment trusts. In the fiscal year to 31 December 2025, it reported revenue of $718.4m and net income of $204.3m. At that date it held total assets of $9.80bn and shareholders' equity of $6.27bn.
The Company is a fully integrated REIT primarily focused on the ownership, acquisition, development and management of retail properties net leased to industry leading tenants. The Company was founded in 1971 by its current Executive Chairman, Richard Agree, and its common stock was listed on the New York Stock Exchange (“NYSE”) in 1994. The Company’s assets are held by, and all of its operations are conducted through, directly or indirectly, the Operating Partnership of which the Company is the sole general partner and in which it held a 99.7% common interest as of December 31, 2025. Under the agreement of limited partnership of the Operating Partnership, the Company, as the sole general partner, has exclusive responsibility and discretion in the management and control of the Operating Partnership.
As of December 31, 2025, the Company’s portfolio consisted of 2,674 properties located in all 50 states and totaling approximately 55.5 million square feet of Gross Leasable Area (“GLA”). The portfolio was approximately 99.7% leased and had a weighted average remaining lease term of approximately 7.8 years. A significant majority of the Company’s properties are leased to national tenants and approximately 66.8% of our annualized base rent was derived from tenants, or parent entities thereof, with an investment grade credit rating from S&P Global Ratings, Moody’s Investors Service, Fitch Ratings or the National Association of Insurance Commissioners. Substantially all of our tenants are subject to net lease agreements.
Quoted from its 10-K, filed 10 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Real Estate
- Industry
- Equity Real Estate Investment Trusts (REITs)
- Listed since
- 15 Apr 1994
- Employees
- 90
- Website
- agreerealty.com ↗
- Head office
- 32301 WOODWARD AVENUE, ROYAL OAK, MI, 48073
- Incorporated in
- DE
- Classification
- Real Estate Investment Trusts
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Richard AgreeExecutive Chairman of the Board, since 1993$471,022
- Mr. Joel AgreePresident, Chief Executive Officer, Director, since 2006$8.4m
- Mr. Peter CoughenourChief Financial Officer, Secretary$2.0m
- Ms. Nicole WitteveenChief Operating Officer$1.5m
- Ms. Danielle SpeharGeneral Counsel$1.4m
- Mr. Craig ErlichChief Growth Officer, since 2018$2.0m
- Mr. W. Gregory LehmkuhlLead Independent Director$235,000
- Ms. Karen DearingIndependent Director$210,000
- Ms. Merrie FrankelIndependent Director$205,000
- Ms. Linglong HeIndependent Director$185,000
- Mr. Michael HollmanIndependent Director$185,000
- Mr. Michael JudloweIndependent Director$185,000
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 39
- Environment
- 35
- Social
- 59
- Governance
- 22
- Direct emissions (scope 1)
- 271 t
- Energy emissions (scope 2)
- 1,271 t
- Women in the workforce
- 47%
- Carbon reduction policy
- No
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Agree Realty Corp demonstrates several significant strengths that contribute to its success and market position.
- Agree Realty Corp owns a diverse portfolio of high-quality real estate assets, primarily concentrated in the retail sector. This diversified portfolio provides stability and a resilient revenue stream.
- The company benefits from long-term, triple net lease agreements with reputable tenants. These leases typically require tenants to pay all operating expenses, providing a consistent and predictable cash flow.
Weaknesses
- Despite its strengths, Agree Realty Corp also faces certain weaknesses that may impact its performance.
- The company's portfolio is heavily weighted towards retail properties, which exposes it to the risks associated with shifts in consumer behavior and economic downturns. Such concentration increases vulnerability to market fluctuations.
- While the long-term lease agreements offer stability, the company's success is dependent on the financial health and stability of its tenants. Financial difficulties or bankruptcies of major tenants could negatively impact the company's cash flow.
Opportunities
- Several prospects exist for Agree Realty Corp to further enhance its growth and market standing.
- The company can leverage its strong financial position to acquire additional real estate assets and expand its portfolio. This would diversify risk and increase market reach.
- By adapting to the changing retail landscape and integrating e-commerce capabilities, Agree Realty Corp can attract tenants in the ever-growing online retail industry and minimize risks associated with traditional brick-and-mortar retail.
Threats
- Certain threats exist that may impact Agree Realty Corp's operations and future growth prospects.
- Unforeseen economic events, such as recessions or market instability, can negatively affect consumer spending and lead to reduced demand for retail space. This poses a potential risk to Agree Realty Corp's rental income.
- The real estate market is highly competitive, with numerous players vying for quality properties and reputable tenants. Increased competition may limit acquisition opportunities and potentially affect rental rates.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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