ADCNYSEReal Estate Investment TrustsFiscal year ends December 31Also trades as ADC.PA
AGREE REALTY CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 20, 2026
$65.82−1.22 (-1.82%)
Close on Oct 19, 2026
- Market cap
- $7.93B
- P/E (TTM)
- 35.4
- Dividend yield
- 4.67%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
143M
Shares held, 13F filers
Institutional holders
494
49 new, 48 sold out
Net institutional buying
4M
In Q2 2026
Insider trades, 12 months
14 buys · 0 sales
Net bought $9.87M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Vanguard Capital Management | 6,332,281 | 5.27% | 13G (passive) | Mar 31, 2026 |
| State Street Corporation | 5,967,031 | 5.00% | 13G (passive) | Mar 31, 2026 |
| Cohen & Steers, Inc. | 16,465,990 | 13.71% | 13G (passive) amendment | Jun 30, 2026 |
| BlackRock, Inc. | 11,689,477 | 10.90% | 13G (passive) amendment | Mar 31, 2025 |
| Vanguard Portfolio Management | 10,277,845 | 8.56% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of ADC | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 19,112,107 | – | $1.45B | +1,222,099 | 0.02% |
| Cohen & Steers, Inc. | 16,403,414 | – | $1.24M | −1,460,930 | 1.96% |
| Vanguard Portfolio Management LLC | 10,588,511 | – | $801.97M | +328,505 | 0.04% |
| State Street Corp | 5,858,959 | – | $445.28M | −107,444 | 0.01% |
| Vanguard Capital Management LLC | 5,405,144 | – | $409.39M | +58,711 | 0.01% |
| Principal Financial Group Inc | 4,662,379 | – | $353.13M | +136,291 | 0.17% |
| Centersquare Investment Management LLC | 3,730,917 | – | $282.58M | +301,342 | 2.41% |
| Two Sigma Investments, LP | 3,535,058 | – | $267.75M | −506,635 | 0.19% |
| Daiwa Securities Group Inc. | 2,921,805 | – | $221.30M | −39,878 | 0.43% |
| Geode Capital Management, LLC | 2,781,222 | – | $210.69M | +82,464 | 0.01% |
| Charles Schwab Investment Management Inc | 2,196,532 | – | $166.37M | +86,679 | 0.02% |
| Zimmer Partners, LP | 1,843,300 | – | $139.61M | −1,453,114 | 3.21% |
| Dimensional Fund Advisors LP | 1,794,541 | – | $135.92M | +23,523 | 0.02% |
| Prudential Financial Inc | 1,787,283 | – | $135.37M | −119,826 | 0.15% |
| Bank Of America Corp /De/ | 1,728,560 | – | $130.92M | +201,999 | 0.01% |
| Millennium Management LLC | 1,582,623 | – | $119.87M | +484,191 | 0.04% |
| Norges Bank | 1,551,258 | – | $117.49M | New | 0.01% |
| Morgan Stanley | 1,525,277 | – | $115.52M | +206,242 | 0.01% |
| Nomura Asset Management International Inc. | 1,518,183 | – | $114.99M | +121,385 | 0.17% |
| Raymond James Financial Inc | 1,428,749 | – | $108.21M | −3,732 | 0.03% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|
| Q2 2026 | 494 | 143M | 49 / 198 | 159 / 48 | 15M | 11M |
| Q1 2026 | 500 | 140M | 62 / 211 | 151 / 47 | 37M | 11M |
| Q4 2025 | 491 | 130M | 62 / 193 | 171 / 43 | 14M | 12M |
| Q3 2025 | 479 | 128M | 61 / 202 | 151 / 47 | 12M | 9M |
| Q2 2025 | 471 | 125M | 62 / 214 | 142 / 53 | 16M | 12M |
| Q1 2025 | 466 | 121M | 61 / 203 | 139 / 41 | 14M | 9M |
| Q4 2024 | 451 | 118M | 67 / 192 | 131 / 39 | 17M | 13M |
| Q3 2024 | 431 | 115M | 61 / 166 | 155 / 33 | 32M | 10M |
| Q2 2024 | 409 | 107M | 59 / 159 | 139 / 41 | 12M | 10M |
| Q1 2024 | 395 | 105M | 59 / 165 | 121 / 29 | 11M | 13M |
| Q4 2023 | 367 | 106M | 54 / 156 | 112 / 54 | 19M | 8M |
| Q3 2023 | 372 | 95M | 45 / 154 | 117 / 44 | 9M | 9M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of ADC | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Real Estate Index Fund | 4,568,831 | – | $355.46M | 0.49% | Jul 31, 2026 |
| iShares Core S&P Mid-Cap ETF | 4,103,826 | – | $310.82M | 0.25% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 3,814,745 | – | $288.93M | 0.01% | Jun 30, 2026 |
| Cohen & Steers Institutional Realty Shares | 2,848,836 | – | $215.77M | 2.41% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 2,755,137 | – | $208.67M | 0.11% | Jun 30, 2026 |
| Cohen & Steers Realty Shares | 2,596,539 | – | $196.66M | 2.41% | Jun 30, 2026 |
| Vanguard Small-Cap Value Index Fund | 1,744,827 | – | $132.15M | 0.19% | Jun 30, 2026 |
| Cohen & Steers Real Estate Securities Fund | 1,473,829 | – | $111.63M | 1.17% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 1,374,492 | – | $104.10M | 0.11% | Jun 30, 2026 |
| Real Estate Securities Fund | 1,315,966 | – | $102.38M | 1.46% | Jul 31, 2026 |
| Schwab U.S. REIT ETF | 847,742 | – | $62.86M | 0.63% | May 31, 2026 |
| Vanguard Real Estate Ii Index Fund | 801,870 | – | $62.39M | 0.57% | Jul 31, 2026 |
| Carillon Scout Mid Cap Fund | 795,455 | – | $60.25M | 1.41% | Jun 30, 2026 |
| Cohen & Steers Global Realty Shares, Inc. | 688,793 | – | $52.17M | 2.28% | Jun 30, 2026 |
| Dfa Real Estate Securities Portfolio | 636,300 | – | $49.50M | 0.70% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | Latest filing |
|---|---|---|---|
| Joey Agree | PRESIDENT & CEO, Director | 686,427 | Sep 17, 2026 |
| Richard Agree | EXECUTIVE CHAIRMAN OF BOARD, Director | 668,567 | Jun 8, 2026 |
| Craig Erlich | CHIEF GROWTH OFFICER | 60,488 | Sep 23, 2026 |
| Nicole Witteveen | CHIEF OPERATING OFFICER | 23,274 | Aug 21, 2026 |
| Peter Coughenour | CHIEF FINANCIAL OFFICER | 27,054 | Feb 25, 2026 |
| Stephen Breslin | CHIEF ACCOUNTING OFFICER | 14,536 | Feb 25, 2026 |
| Danielle M. Spehar | GENERAL COUNSEL | 25,785 | Feb 25, 2026 |
| John Rakolta Jr | Director | 654,748 | Sep 17, 2026 |
| Linglong He | Director | 9,668 | May 18, 2026 |
| Jerome R. Rossi | Director | 12,351 | May 18, 2026 |
| Karen Dearing | Director | 15,616 | May 18, 2026 |
| Merrie S. Frankel | Director | 11,099 | May 18, 2026 |
| Greg Lehmkuhl | Director | 33,715 | May 18, 2026 |
| Michael Hollman | Director | 10,337 | May 18, 2026 |
| Michael Judlowe | Director | 14,089 | May 18, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Craig Erlich CHIEF GROWTH OFFICER | Sep 21, 2026 | Buy | +1,000 | $67.55 | $67.55K | 60,388 |
| Joey Agree PRESIDENT & CEO, Director | Sep 16, 2026 | Buy | +7,360 | $68.06 | $500.92K | 682,465 |
| John Rakolta Jr Director | Sep 16, 2026 | Buy | +20,000 | $68.78 | $1.38M | 654,602 |
| John Rakolta Jr Director | Aug 31, 2026 | Buy | +10,000 | $72.42 | $724.20K | 632,197 |
| John Rakolta Jr Director | Aug 28, 2026 | Buy | +136 | $73.52 | $10.00K | 622,197 |
| John Rakolta Jr Director | Aug 27, 2026 | Buy | +20,000 | $73.23 | $1.46M | 622,061 |
| Nicole Witteveen CHIEF OPERATING OFFICER | Aug 19, 2026 | Tax withholding | −293 | $74.39 | $21.80K | 23,274 |
| Richard Agree EXECUTIVE CHAIRMAN OF BOARD, Director | Jun 4, 2026 | Buy | +5,000 | $71.41 | $357.05K | 90,512 |
| John Rakolta Jr Director | May 15, 2026 | Buy | +20,000 | $74.57 | $1.49M | 595,798 |
| Linglong He Director | May 14, 2026 | Award | +1,328 | $75.28 | $99.97K | 9,668 |
| Linglong He Director | May 14, 2026 | Award | +2,159 | – | – | 8,340 |
| John Rakolta Jr Director | May 14, 2026 | Award | +2,159 | – | – | 572,466 |
| John Rakolta Jr Director | May 14, 2026 | Award | +1,328 | $75.28 | $99.97K | 573,794 |
| Greg Lehmkuhl Director | May 14, 2026 | Award | +2,159 | $75.28 | $162.53K | 33,715 |
| Greg Lehmkuhl Director | May 14, 2026 | Award | +2,159 | – | – | 31,556 |
| Greg Lehmkuhl Director | May 14, 2026 | Buy | +750 | $75.09 | $56.32K | 34,465 |
| Michael Judlowe Director | May 14, 2026 | Award | +2,159 | – | – | 13,989 |
| Michael Judlowe Director | May 14, 2026 | Award | +1,328 | $75.28 | $99.97K | 15,317 |
| Michael Hollman Director | May 14, 2026 | Award | +2,159 | – | – | 10,337 |
| Joey Agree PRESIDENT & CEO, Director | May 14, 2026 | Buy | +13,295 | $75.41 | $1.00M | 675,105 |
| Merrie S. Frankel Director | May 14, 2026 | Award | +432 | – | – | 11,099 |
| Jerome R. Rossi Director | May 14, 2026 | Award | +2,159 | – | – | 12,351 |
| Karen Dearing Director | May 14, 2026 | Award | +2,159 | – | – | 15,616 |
| Craig Erlich CHIEF GROWTH OFFICER | May 6, 2026 | Gift | −500 | – | – | 59,388 |
| John Rakolta Jr Director | Apr 1, 2026 | Buy | +146 | $75.69 | $11.05K | 146 |
| Richard Agree EXECUTIVE CHAIRMAN OF BOARD, Director | Feb 23, 2026 | Tax withholding | −4,577 | $79.32 | $363.05K | 422,200 |
| Richard Agree EXECUTIVE CHAIRMAN OF BOARD, Director | Feb 23, 2026 | Award | +8,069 | – | – | 426,777 |
| Danielle M. Spehar GENERAL COUNSEL | Feb 23, 2026 | Tax withholding | −5,706 | $79.32 | $452.60K | 25,785 |
| Danielle M. Spehar GENERAL COUNSEL | Feb 23, 2026 | Award | +4,539 | – | – | 25,487 |
| Danielle M. Spehar GENERAL COUNSEL | Feb 23, 2026 | Award | +6,004 | – | – | 31,491 |
| Joey Agree PRESIDENT & CEO, Director | Feb 23, 2026 | Award | +24,584 | – | – | 663,272 |
| Joey Agree PRESIDENT & CEO, Director | Feb 23, 2026 | Award | +40,025 | – | – | 703,297 |
| Joey Agree PRESIDENT & CEO, Director | Feb 23, 2026 | Tax withholding | −41,487 | $79.32 | $3.29M | 661,810 |
| Nicole Witteveen CHIEF OPERATING OFFICER | Feb 23, 2026 | Award | +2,502 | – | – | 26,713 |
| Nicole Witteveen CHIEF OPERATING OFFICER | Feb 23, 2026 | Award | +8,510 | – | – | 24,211 |
| Nicole Witteveen CHIEF OPERATING OFFICER | Feb 23, 2026 | Tax withholding | −3,146 | $79.32 | $249.54K | 23,567 |
| Peter Coughenour CHIEF FINANCIAL OFFICER | Feb 23, 2026 | Award | +8,510 | – | – | 27,054 |
| Peter Coughenour CHIEF FINANCIAL OFFICER | Feb 23, 2026 | Tax withholding | −4,401 | $79.32 | $349.09K | 26,656 |
| Peter Coughenour CHIEF FINANCIAL OFFICER | Feb 23, 2026 | Award | +4,003 | – | – | 31,057 |
| Stephen Breslin CHIEF ACCOUNTING OFFICER | Feb 23, 2026 | Award | +2,521 | – | – | 14,536 |
| Stephen Breslin CHIEF ACCOUNTING OFFICER | Feb 23, 2026 | Tax withholding | −1,475 | $79.32 | $117.00K | 13,061 |
| Craig Erlich CHIEF GROWTH OFFICER | Feb 23, 2026 | Award | +10,005 | – | – | 68,524 |
| Craig Erlich CHIEF GROWTH OFFICER | Feb 23, 2026 | Tax withholding | −8,636 | $79.32 | $685.01K | 59,888 |
| Craig Erlich CHIEF GROWTH OFFICER | Feb 23, 2026 | Award | +5,673 | – | – | 58,519 |
| Peter Coughenour CHIEF FINANCIAL OFFICER | Jan 9, 2026 | Buy | +500 | $69.80 | $34.90K | 18,544 |
| Richard Agree EXECUTIVE CHAIRMAN OF BOARD, Director | Jan 9, 2026 | Buy | +24,000 | $70.67 | $1.70M | 159,855 |
| John Rakolta Jr Director | Dec 24, 2025 | Buy | +15,000 | $72.18 | $1.08M | 562,606 |
| John Rakolta Jr Director | Dec 22, 2025 | Gift | −11,549 | – | – | 547,606 |
| Stephen Breslin CHIEF ACCOUNTING OFFICER | Dec 1, 2025 | Tax withholding | −262 | $74.64 | $19.56K | 12,015 |
| Joey Agree PRESIDENT & CEO, Director | Nov 18, 2025 | Gift | +1,028 | – | – | 3,962 |
| Richard Agree EXECUTIVE CHAIRMAN OF BOARD, Director | Nov 18, 2025 | Gift | −2,570 | – | – | 414,708 |
| John Rakolta Jr Director | Oct 7, 2025 | Buy | +25,154 | $70.41 | $1.77M | 553,701 |
| Craig Erlich CHIEF GROWTH OFFICER | Oct 3, 2025 | Buy | +360 | $70.85 | $25.51K | 52,846 |
| Joey Agree PRESIDENT & CEO, Director | Oct 2, 2025 | Buy | +3,528 | $70.63 | $249.18K | 638,688 |
| Greg Lehmkuhl Director | Sep 5, 2025 | Buy | +750 | $72.84 | $54.63K | 27,684 |
| Nicole Witteveen CHIEF OPERATING OFFICER | Aug 19, 2025 | Tax withholding | −294 | $73.48 | $21.60K | 15,701 |
| Craig Erlich CHIEF GROWTH OFFICER | Aug 19, 2025 | Tax withholding | −396 | $73.48 | $29.10K | 52,486 |
| Joey Agree PRESIDENT & CEO, Director | Aug 14, 2025 | Buy | +2,100 | $72.08 | $151.37K | 635,160 |
| Joey Agree PRESIDENT & CEO, Director | Aug 13, 2025 | Buy | +742 | $72.15 | $53.54K | 2,934 |
| Joey Agree PRESIDENT & CEO, Director | Aug 13, 2025 | Buy | +4,108 | $72.15 | $296.39K | 633,060 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.