Agree Realty(NYSE) ADC

Agree Realty NYSE:ADC buys and develops retail buildings for well-known national stores. It rents these properties to companies that provide everyday essentials. This helps major retailers run their businesses in high-traffic locations across the country.

The Retail Property Portfolio

• Net-Leased Properties: Buildings where tenants pay rent plus property taxes, insurance, and maintenance costs; these make up substantially all of the company's 2,888 properties.
• Investment Grade Tenants: Properties rented to companies with high credit ratings; derived 65.1% of annualized base rent from these tenants as of Sept. 30, 2026.
• Ground Leases: Land ownership where retail buildings are constructed by third parties; these are acquired through direct purchases from third-party sellers.

Expanding the National Footprint

• Acquired 235 properties across 41 states during the nine months ended Sept. 30, 2026.
• Invested $1.17 billion in total acquisition and closing costs during the nine months ended Sept. 30, 2026.
• Delivered 12 development and Developer Funding Platform projects in the nine months ended Sept. 30, 2026.
• Issued $400 million in senior unsecured public notes in September 2026 to support business activities.

What Makes the Company Stand Out

The company focuses on national, investment-grade tenants to provide stable rental income. Its portfolio covers all 50 states and maintained a 99.8% occupancy rate as of Sept. 30, 2026. This reach and high occupancy stem from long-term leases, with a weighted-average remaining term of 7.8 years.

Financial Performance in 2026

• Rental income reached $213.8 million for the three months ended Sept. 30, 2026, up 17% year over year.
• Net income rose 31% year over year to $68.5 million for the three months ended Sept. 30, 2026.
• Adjusted Funds from Operations hit $1.15 per diluted share in the third quarter of 2026, up from $1.10 in the same period of 2025.
• Total enterprise value reached $12.55 billion as of Sept. 30, 2026.

The Evolution of Agree Realty

Agree Realty has transformed from its 1971 founding into a nationwide real estate owner with thousands of properties. Its focus on essential retail and high-quality tenants supports its growth as a major player in the commercial property market.