Agree Realty Corp (ADC) stock
ADCNYSEReal Estate Investment TrustsFiscal year ends December 31Also trades as ADC.PA
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 20, 2026Score 12/3013% above fair value
$67.07−0.54 (-0.80%)
Close on Oct 30, 2026Market cap $8.34BP/E 36.1Yield 4.58%
Earnings
Agree Realty's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.
Next report
Feb 9, 2027
Q4 FY2026 · estimated, after the close
Revenue, Q3 FY2026
$213.88M
AFFO per share, Q3 FY2026
$1.15
$1.10 a year earlier
Latest guidance
Lowered
Oct 20, 2026 · 8 items
Quarterly results
Revenue and earnings per share from each of Agree Realty's earnings releases, newest first
| Quarter | Reported | Revenue | YoY | EPS | Adj. EPS | Source |
|---|---|---|---|---|---|---|
| Q4 FY2026ended Dec 31, 2026 | Feb 9, 2027Expected | – | – | – | – | – |
| Q3 FY2026ended Sep 30, 2026 | Oct 20, 2026after the close | $213.88M | – | $0.53 | $1.15 | Release |
| Q2 FY2026ended Jun 30, 2026 | Jul 30, 2026after the close | $205.10M | +16.8% | $0.44 | $1.14 | Release |
| Q1 FY2026ended Mar 31, 2026 | Apr 21, 2026after the close | $200.81M | +18.7% | $0.50 | $1.14 | Release |
| Q4 FY2025ended Dec 31, 2025 | Feb 10, 2026after the close | $190.49M | +18.5% | $0.47 | $1.10 | Release |
| Q3 FY2025ended Sep 30, 2025 | Oct 21, 2025after the close | – | – | $0.45 | $1.10 | Release |
| Q2 FY2025ended Jun 30, 2025 | Jul 31, 2025after the close | $175.53M | +15.0% | $0.43 | $1.06 | Release |
| Q1 FY2025ended Mar 31, 2025 | Apr 22, 2025after the close | $169.16M | +13.2% | $0.42 | – | Release |
| Q4 FY2024ended Dec 31, 2024 | Feb 11, 2025after the close | $160.73M | +11.5% | $0.41 | $1.04 | Release |
| Q3 FY2024ended Sep 30, 2024 | Oct 22, 2024after the close | – | – | $0.42 | $1.01 | Release |
| Q2 FY2024ended Jun 30, 2024 | Jul 23, 2024after the close | $152.58M | +17.5% | $0.52 | $1.04 | Release |
| Q1 FY2024ended Mar 31, 2024 | Apr 23, 2024after the close | $149.45M | +18.0% | $0.43 | – | Release |
| Q4 FY2023ended Dec 31, 2023 | Feb 13, 2024after the close | $144.17M | +23.7% | $0.44 | – | Release |
| Q3 FY2023ended Sep 30, 2023 | Oct 24, 2023after the close | $136.81M | +24.3% | $0.41 | $1.00 | Release |
| Q2 FY2023ended Jun 30, 2023 | Aug 1, 2023after the close | $129.90M | +23.9% | $0.42 | $0.98 | Release |
| Q1 FY2023ended Mar 31, 2023 | May 4, 2023after the close | $126.62M | +28.8% | $0.44 | $0.98 | Release |
| Q4 FY2022ended Dec 31, 2022 | Feb 14, 2023after the close | $116.53M | +27.5% | $0.44 | – | Release |
| Q3 FY2022ended Sep 30, 2022 | Nov 1, 2022after the close | $110.07M | +25.7% | $0.46 | – | Release |
| Q2 FY2022ended Jun 30, 2022 | Aug 2, 2022after the close | $104.88M | – | $0.45 | $0.98 | Release |
| Q1 FY2022ended Mar 31, 2022 | May 3, 2022after the close | $98.34M | – | $0.48 | $0.97 | Release |
| Q4 FY2021ended Dec 31, 2021 | Feb 22, 2022after the close | $91.41M | – | $0.44 | – | Release |
| Q3 FY2021ended Sep 30, 2021 | Nov 1, 2021after the close | $87.54M | – | $0.52 | – | Release |
| Q2 FY2021ended Jun 30, 2021 | Jul 26, 2021after the close | – | – | – | – | Release |
| Q1 FY2021ended Mar 31, 2021 | May 3, 2021after the close | – | – | – | – | Filing |
| Q4 FY2020ended Dec 31, 2020 | Feb 18, 2021after the close | – | – | – | – | Filing |
| Q3 FY2020ended Sep 30, 2020 | Oct 19, 2020after the close | – | – | – | – | Filing |
Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.
Current guidance
Agree Realty's latest outlook for periods it has not reported yet, compared with what it said before
| Metric | Period | Guidance | Before | Change | Given |
|---|---|---|---|---|---|
| AFFO per sharenon-GAAP | FY2026 | $4.58 – $4.59 | – | New | Oct 20, 2026 |
| AFFO per sharenon-GAAP | FY2026 | $4.57 – $4.59 | $4.54 – $4.58 | Raised | Jul 30, 2026 |
| Investment volume | FY2026 | $1.60B – $1.80B | – | New | Jul 30, 2026 |
| AFFO per sharenon-GAAP | FY2026 | $4.54 – $4.58 | – | New | Feb 10, 2026 |
| Cash G&A expensenon-GAAP | FY2026 | 3.7% – 4% | – | New | Oct 20, 2026 |
| Cash G&A expense | FY2026 | 3.7% – 4% | – | Lowered | Apr 21, 2026 |
| Disposition volume | FY2026 | $100.00M – $150.00M | – | Lowered | Oct 20, 2026 |
| Disposition volume | FY2026 | $50.00M – $100.00M | $25.00M – $75.00M | Raised | Jul 30, 2026 |
| General and administrative expenses (% of adjusted revenue) | FY2026 | 5.3% – 5.6% | – | New | Oct 20, 2026 |
| General and administrative expenses (% of adjusted revenue) | FY2026 | 5.3% – 5.6% | 5.3% – 5.6% | Raised | Jul 30, 2026 |
| Income and other tax expense | FY2026 | $2.00M | – | Lowered | Oct 20, 2026 |
| Income and other tax expense | FY2026 | $2.00M | $2.00M – $2.50M | Lowered | Jul 30, 2026 |
| Investment volume | FY2026 | $1.60B | – | New | Oct 20, 2026 |
| Investment volume | FY2026 | $1.40B – $1.60B | $1.40B – $1.60B | Raised | Apr 21, 2026 |
| Non-reimbursable real estate expenses (% of adjusted revenue) | FY2026 | 1% – 1.5% | – | Lowered | Oct 20, 2026 |
| Non-reimbursable real estate expenses (% of adjusted revenue) | FY2026 | 1% – 1.5% | 1% – 1.5% | Lowered | Jul 30, 2026 |
| Treasury stock method dilution | FY2026 | $0.01 – $0.02 | – | New | Oct 20, 2026 |
| Treasury stock method dilution | FY2026 | $0.02 – $0.04 | $0.02 – $0.04 | Reaffirmed | Jul 30, 2026 |
Guidance history
Every forecast Agree Realty put in an earnings release, newest first
| Given | Metric | Period | Guidance | Change |
|---|---|---|---|---|
| Oct 20, 2026 | AFFO per share | FY2026 | $4.58 – $4.59 | New |
| Oct 20, 2026 | Investment volume | FY2026 | $1.60B | New |
| Oct 20, 2026 | Disposition volume | FY2026 | $100.00M – $150.00M | Lowered |
| Oct 20, 2026 | General and administrative expenses (% of adjusted revenue) | FY2026 | 5.3% – 5.6% | New |
| Oct 20, 2026 | Non-reimbursable real estate expenses (% of adjusted revenue) | FY2026 | 1% – 1.5% | Lowered |
| Oct 20, 2026 | Income and other tax expense | FY2026 | $2.00M | Lowered |
| Oct 20, 2026 | Treasury stock method dilution | FY2026 | $0.01 – $0.02 | New |
| Oct 20, 2026 | Cash G&A expense | FY2026 | 3.7% – 4% | New |
| Jul 30, 2026 | Investment volume | FY2026 | $1.60B – $1.80B | New |
| Jul 30, 2026 | AFFO per share | FY2026 | $4.57 – $4.59 | Raised |
| Jul 30, 2026 | General and administrative expenses (% of adjusted revenue) | FY2026 | 5.3% – 5.6% | Raised |
| Jul 30, 2026 | Non-reimbursable real estate expenses (% of adjusted revenue) | FY2026 | 1% – 1.5% | Lowered |
| Jul 30, 2026 | Disposition volume | FY2026 | $50.00M – $100.00M | Raised |
| Jul 30, 2026 | Income and other tax expense | FY2026 | $2.00M | Lowered |
| Jul 30, 2026 | Treasury stock method dilution | FY2026 | $0.02 – $0.04 | Reaffirmed |
| Apr 21, 2026 | AFFO per share | FY2026 | $4.54 – $4.58 | New |
| Apr 21, 2026 | General and administrative expenses (% of adjusted revenue) | FY2026 | 5.3% – 5.6% | Raised |
| Apr 21, 2026 | Cash G&A expense | FY2026 | 3.7% – 4% | Lowered |
| Apr 21, 2026 | Non-reimbursable real estate expenses (% of adjusted revenue) | FY2026 | 1% – 1.5% | Lowered |
| Apr 21, 2026 | Investment volume | FY2026 | $1.40B – $1.60B | Raised |
| Apr 21, 2026 | Disposition volume | FY2026 | $25.00M – $75.00M | Lowered |
| Apr 21, 2026 | Income and other tax expense | FY2026 | $2.00M – $2.50M | Lowered |
| Apr 21, 2026 | Treasury stock method dilution | FY2026 | $0.02 – $0.04 | Raised |
| Feb 10, 2026 | General and administrative expenses (% of adjusted revenue) | FY2026 | 5.3% – 5.6% | New |
| Feb 10, 2026 | Non-reimbursable real estate expenses (% of adjusted revenue) | FY2026 | 1% – 1.5% | Lowered |
| Feb 10, 2026 | Investment volume | FY2026 | $1.40B – $1.60B | New |
| Feb 10, 2026 | Disposition volume | FY2026 | $25.00M – $75.00M | Lowered |
| Feb 10, 2026 | Income and other tax expense | FY2026 | $2.00M – $3.00M | Lowered |
| Feb 10, 2026 | Treasury stock method dilution | FY2026 | $0.01 | New |
| Feb 10, 2026 | AFFO per share | FY2026 | $4.54 – $4.58 | New |
| Jul 31, 2025 | Investment volume | FY2025 | $1.40B – $1.60B | New |
| Jul 31, 2025 | AFFO per share | FY2025 | $4.29 – $4.32 | Raised |
| Jul 31, 2025 | General and administrative expenses (% of adjusted revenue) | FY2025 | 5.6% – 5.9% | New |
| Jul 31, 2025 | Non-reimbursable real estate expenses (% of adjusted revenue) | FY2025 | 1% – 1.5% | Lowered |
| Jul 31, 2025 | Income and other tax expense | FY2025 | $2.50M – $3.00M | Lowered |
| Jul 31, 2025 | Disposition volume | FY2025 | $10.00M – $50.00M | Raised |
| Apr 22, 2025 | AFFO per share | FY2025 | $4.27 – $4.30 | New |
| Apr 22, 2025 | General and administrative expenses (% of adjusted revenue) | FY2025 | 5.6% – 5.9% | Raised |
| Apr 22, 2025 | Non-reimbursable real estate expenses (% of adjusted revenue) | FY2025 | 1% – 1.5% | Lowered |
| Apr 22, 2025 | Income and other tax expense | FY2025 | $3.00M – $4.00M | Lowered |
| Apr 22, 2025 | Investment volume | FY2025 | $1.30B – $1.50B | Raised |
| Apr 22, 2025 | Disposition volume | FY2025 | $10.00M – $50.00M | Lowered |
| Feb 11, 2025 | General and administrative expenses (% of adjusted revenue) | FY2025 | 5.6% – 5.9% | New |
| Feb 11, 2025 | Non-reimbursable real estate expenses (% of adjusted revenue) | FY2025 | 1% – 1.5% | Lowered |
| Feb 11, 2025 | Income and other tax expense | FY2025 | $3.00M – $4.00M | New |
| Feb 11, 2025 | Investment volume | FY2025 | $1.10B – $1.30B | Raised |
| Feb 11, 2025 | Disposition volume | FY2025 | $10.00M – $50.00M | Lowered |
| Feb 11, 2025 | AFFO per share | FY2025 | $4.26 – $4.30 | New |
| Jul 23, 2024 | AFFO per share | FY2024 | $4.11 – $4.14 | Raised |
| Jul 23, 2024 | Disposition volume | FY2024 | $60.00M – $100.00M | Lowered |
| Jul 23, 2024 | General and administrative expenses (% of adjusted revenue) | FY2024 | 5.7% – 6% | Raised |
| Jul 23, 2024 | Non-reimbursable real estate expenses (% of adjusted revenue) | FY2024 | 1% – 1.5% | Lowered |
| Jul 23, 2024 | Acquisition volume | FY2024 | $700.00M | Raised |
| Jul 23, 2024 | Income and other tax expense | FY2024 | $4.00M – $5.00M | New |
| Apr 23, 2024 | AFFO per share | FY2024 | $4.10 – $4.13 | New |
| Apr 23, 2024 | General and administrative expenses (% of adjusted revenue) | FY2024 | 5.7% – 6% | New |
| Apr 23, 2024 | Acquisition volume | FY2024 | $600.00M | Raised |
| Apr 23, 2024 | Income and other tax expense | FY2024 | $4.00M – $5.00M | New |
| Apr 23, 2024 | Disposition volume | FY2024 | $50.00M – $100.00M | Lowered |
| Apr 23, 2024 | Non-reimbursable real estate expenses (% of adjusted revenue) | FY2024 | 1% – 1.5% | Lowered |
| Oct 24, 2023 | acquisition volume | FY2023 | $1.30B | Reaffirmed |
| Aug 1, 2023 | acquisition volume | FY2023 | $1.30B | Raised |
| May 4, 2023 | acquisition volume | FY2023 | $1.20B | New |
| Nov 1, 2022 | acquisition volume | FY2022 | $1.60B – $1.70B | Raised |
| Nov 1, 2022 | total disposition guidance range | FY2022 | $45.00M – $75.00M | Lowered |
| Nov 1, 2022 | development and PCS projects | FY2022 | $85.00M – $125.00M | Raised |
| Aug 2, 2022 | acquisition volume | FY2022 | $1.50B – $1.70B | Raised |
| Aug 2, 2022 | disposition guidance | FY2022 | $25.00M – $75.00M | Lowered |
| Aug 2, 2022 | development and PCS projects | FY2022 | $75.00M – $125.00M | Raised |
| May 3, 2022 | acquisition volume | FY2022 | $1.40B – $1.60B | Raised |
| May 3, 2022 | disposition guidance | FY2022 | $25.00M – $75.00M | Lowered |
| Feb 22, 2022 | acquisition volume | FY2022 | $1.10B – $1.30B | New |
| Feb 22, 2022 | disposition guidance | FY2022 | $25.00M – $75.00M | Lowered |
| Nov 1, 2021 | acquisition volume | FY2021 | $1.30B – $1.40B | New |
| Nov 1, 2021 | disposition guidance | FY2021 | $50.00M – $75.00M | Lowered |
Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.
Press releases
Releases Agree Realty filed with the SEC as exhibits to Form 8-K or 6-K
- Results
- Results
- Results
- Results
- Results
- Results
- Results
- Results
- Results
- Update
- Results
- Results
- Update
- Update
- Results