Agree Realty Corporation (ADC) Stock Price & Analysis
Agree Realty Corporation (ADC) closed at USD 67.07 on Thursday, October 22, 2026, up 4.00% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 64.49; the Oct 22, 2026 session ranged USD 64.83–67.29 on volume of 1,834,587 shares. Market capitalization is $8.37B, with a 52-week range of USD 64.34–82.08 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 11:03 UTC.
Also available as compact Markdown for AI agents: nexqual.com/ADC.md
Key facts (ADC)
- Last four reported quarters (through Sep 30, 2026): revenue $810M, net income $241M (29.8% margin) (SEC filings).
- Valuation: P/E 34.7x (avg 37.5x at the last 3 fiscal year-ends).
- Insider open-market purchases, last ~7 months: 9 Form 4 filings, $7.1M; 3 by opportunistic insiders, 4 by routine insiders.
- Analysts: Buy (mean 2.35 on a 1–5 scale) (20 analysts), mean target USD 78.53 (range 72–93).
- Total return with dividends: 1Y -6.8% vs S&P 500 +14.9%; 5Y +18.7% vs S&P 500 +80.3%.
- Next earnings: 2026-10-20, EPS estimate USD 0.47, revenue estimate $223M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (ADC)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $339M | $430M | $537M | $617M | $718M | $810M |
| Operating income | $190M | $218M | $254M | $302M | $340M | $396M |
| Net income | $122M | $152M | $170M | $189M | $204M | $241M |
| EPS (diluted) | $1.78 | $1.83 | $1.70 | $1.78 | $1.77 | — |
| Free cash flow | -$1.14B | -$1.24B | -$808M | -$443M | — | — |
| Operating margin | 56.1% | 50.7% | 47.3% | 49.0% | 47.4% | 48.9% |
| Net margin | 36.0% | 35.5% | 31.6% | 30.7% | 28.4% | 29.8% |
| Revenue growth | +36.5% | +26.7% | +25.1% | +14.8% | +16.4% | — |
| Cash + short-term investments | $43.3M | $27.8M | $10.9M | $6.4M | $16.3M | — |
| Total debt | $1.69B | — | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Sep 30, 2026) (ADC)
P/E 34.7x · P/S 10.3x · P/B 1.2x · Earnings yield 2.88% · Dividend yield (paid, TTM) 4.54% · Buyback yield (TTM) 0.07%
P/E at fiscal year-ends: Dec 2025 39.2x, Dec 2024 37.9x, Dec 2023 35.3x.
Insider purchases (SEC Form 4, open-market, last ~7 months) (ADC)
9 purchases, $7.1M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-09-21 | Erlich Craig | CHIEF GROWTH OFFICER | 1,000 | $68K | 67.55 | Too little history (no open-market trades in 2024) |
| 2026-09-16 | Rakolta John Jr | Director | 20,000 | $1.4M | 68.78 | Routine (bought in Dec each year 2023–2025; this trade is outside those months) |
| 2026-09-16 | Agree Joey | PRESIDENT & CEO | 7,360 | $501K | 68.06 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-31 | Rakolta John Jr | Director | 10,000 | $724K | 72.42 | Routine (bought in Dec each year 2023–2025; this trade is outside those months) |
| 2026-08-27…2026-08-28 | Rakolta John Jr | Director | 20,136 | $1.5M | 73.23 | Routine (bought in Dec each year 2023–2025; this trade is outside those months) |
| 2026-06-04 | Agree Richard | EXECUTIVE CHAIRMAN OF BOARD | 5,000 | $357K | 71.41 | Too little history (no open-market trades in 2025) |
| 2026-05-15 | Rakolta John Jr | Director | 20,000 | $1.5M | 74.57 | Routine (bought in Dec each year 2023–2025; this trade is outside those months) |
| 2026-05-14 | Lehmkuhl Greg | Director | 750 | $56K | 75.09 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-14 | Agree Joey | PRESIDENT & CEO | 13,295 | $1.0M | 75.41 | Opportunistic (traded every year 2023–2025, no repeating month) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (ADC)
Consensus Buy (mean 2.35 on a 1–5 scale), 20 analysts; mean target USD 78.53 (low 72, high 93).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | BNP Paribas | Target lowered | Neutral | $84 → $74 |
| 2026-10-21 | Stifel | Target lowered | Buy | $81.5 → $76.5 |
| 2026-10-21 | Baird | Target lowered | Outperform | $77 → $76 |
| 2026-10-20 | Barclays | Target lowered | Equal-Weight | $85 → $76 |
| 2026-10-19 | Wells Fargo | Target lowered | Overweight | $83 → $79 |
| 2026-09-21 | Evercore ISI Group | Target lowered | Outperform | $87 → $85 |
| 2026-09-18 | Stifel | Target lowered | Buy | $84 → $81.5 |
| 2026-09-17 | Mizuho | Target lowered | Neutral | $80 → $72 |
| 2026-07-22 | Barclays | Target raised | Equal-Weight | $84 → $85 |
Total return (dividends reinvested) (ADC)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -6.8% | +18.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -6.9% | +3.5% |
| Volatility (annualized) | 17.2% | 16.8% |
| Max drawdown | -19.6% (Jul 2026→Oct 2026) | -28.2% (Jul 2022→Oct 2023) |
ADC company outlook (results filed Oct 20, 2026)
- “Guidance to $4.58 to $4.59 Balance Sheet Fortified with Approximately $2.0 Billion of Liquidity Royal Oak, MI, October 20, 2026 -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced results for the quarter ended September 30, 2026.”
Quoted word-for-word from the SEC 8-K results press release.
ADC analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $0.47 | $0.48 | -1.8% | $222.7M | 4 |
| Next quarter (ends Mar 2027) | $0.48 | $0.49 | -2.3% | $227.4M | 4 |
| Current fiscal year (ends Dec 2026) | $1.92 | $1.93 | -0.4% | $842.8M | 2 |
| Next fiscal year (ends Dec 2027) | $1.90 | $1.93 | -1.7% | $956.8M | 4 |
ADC options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 21.6% | ±5.2% |
| Dec 18, 2026 | 56 | 24.5% | ±7.8% |
| Jan 15, 2027 | 84 | 21.1% | ±8.2% |
| Apr 16, 2027 | 175 | 20.2% | ±11.1% |
30-day implied volatility 19.4% vs 23.2% realized over the last 30 trading days. Put/call ratio (volume) 0.52. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 11:03 UTC)
| Price | USD 67.07 |
|---|---|
| Change | ▲ 4.00% (up) |
| Previous Close | USD 64.49 |
| Open | USD 65 |
| Day Range | USD 64.83 – 67.29 |
| 52-Week Range | USD 64.34 – 82.08 |
| Volume | 1,834,587 shares |
| Market Cap | $8.37B |
| Exchange | NYQ |
Technical Analysis (ADC)
Nexqual's technical model rates ADC "SELL" based on 2 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 11:03 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 47.68 (neutral) |
| vs SMA50 | Below (USD 69.59) |
| MACD | -0.92 (negative) |
Analyst Ratings (ADC)
Wall Street analysts rate ADC "Buy" based on 20 analysts, with a mean price target of USD 78.53 (range USD 72–93), per Nexqual as of October 23, 2026 at 11:03 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 20 |
| Mean Target | USD 78.53 |
| High Target | USD 93 |
| Low Target | USD 72 |
| Buy / Hold / Sell | 12 / 8 / 0 |
Earnings (ADC)
| Next Earnings Date | 2026-10-20 |
|---|---|
| EPS Estimate | USD 0.47 |
| Revenue Estimate | $222.69M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 0.48 vs est 0.47 ▲ beat |
| 2026-06-30 | USD 0.47 vs est 0.47 ▼ miss |
| 2026-03-31 | USD 0.49 vs est 0.47 ▲ beat |
| 2025-12-31 | USD 0.47 vs est 0.47 ▼ miss |
Source: Nexqual, October 23, 2026 at 11:03 UTC.
Financials & Fundamentals (ADC)
| Total Revenue | $810.28M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +16.70% |
| Gross Margin | +87.59% |
| Operating Margin | +48.29% |
| Profit Margin | +29.75% |
| ROE | +3.77% |
| Debt / Equity | 0.54 |
| Current Ratio | 1.62 |
| Total Cash | $110.13M |
| Total Debt | $3.74B |
Source: Nexqual, October 23, 2026 at 11:03 UTC.
Financial Health Score (ADC)
Nexqual rates Agree Realty Corporation's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 11:03 UTC.
| Growth | Strong — Revenue +16% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 88%, operating 48% (last 12 months) |
| Balance Sheet | Solid — $110M cash vs $3.74B debt |
| Cash Flow | Solid — Operating cash flow $504M (FY ended Dec 2025, 10-K) |
| Efficiency | Weak — ROE 4%, ROA 2.4% |
Ownership (ADC)
| Insider Ownership | +1.69% |
|---|---|
| Institutional Ownership | +112.52% |
| Shares Outstanding | 124.38M |
| Float | 127.45M |
| Short % of Float | +6.71% |
Source: Nexqual, October 23, 2026 at 11:03 UTC.
Leadership (ADC)
Agree Realty Corporation is led by Joel N. Agree, President, CEO & Director, per Nexqual as of October 23, 2026 at 11:03 UTC.
| President, CEO & Director | Joel N. Agree |
|---|---|
| Executive Chairman of the Board | Richard A. Agree |
| CFO, Secretary & Investor Relations Professional | Peter Coughenour |
| Chief Operating Officer | Nicole Witteveen |
| Senior Director of Corporate Finance | Reuben Goldman Treatman |
Major Backers & Investors (ADC)
Notable institutional backers of Agree Realty Corporation include Cohen & Steers Inc., Principal Financial Group, Inc., CenterSquare Investment Management LLC, according to Nexqual as of October 23, 2026 at 11:03 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Cohen & Steers Inc. | 12.61% |
| Principal Financial Group, Inc. | 3.58% |
| CenterSquare Investment Management LLC | 2.87% |
| Two Sigma Investments, LP | 2.72% |
| Daiwa Securities Group Inc. | 2.25% |
| Principal Funds, Inc-Real Estate Securities Fund | 1.01% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 14.69% |
| Vanguard Group | 12.29% |
| State Street | 4.5% |
| Geode Capital | 2.14% |
Source: Nexqual, October 23, 2026 at 11:03 UTC.
Legal & Regulatory Risks from Agree Realty Corporation's Latest 10-K (filed 2026-02-10)
- Compliance with the ADA, fire and safety regulations, and other regulations may require us to make unanticipated expenditures.
- Changes in tax laws may prevent us from maintaining our qualification as a REIT.
Source: SEC EDGAR 10-K, Item 1A, official filing.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| NNN | NNN REIT, Inc. | USD 42.13 | ▲ 3.46% |
| BRX | Brixmor Property Group Inc. | USD 28.26 | ▲ 3.06% |
| FRT | Federal Realty Investment Trust | USD 108.88 | ▲ 2.94% |
| MAC | Macerich Company (The) | USD 23.95 | ▲ 3.1% |
| EPRT | Essential Properties Realty Tru | USD 26.26 | ▲ 5.5% |
| PECO | Phillips Edison & Company, Inc. | USD 38.29 | ▲ 2.74% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 11:03 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt