Agree Realty Corporation Common Stock (ADC)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I start with the business: Agree Realty owns 2,825 single-tenant retail properties net leased to omni-channel tenants across all 50 states. That scale and tenant mix can be a modest competitive advantage, though not an unassailable one. The filed numbers show steady expansion: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $205.0M, net income $54.7M, and diluted EPS $0.44. In fiscal Q2 2025, the quarter ended 2025-06-30, revenue was $175.4M, net income $49.2M, and diluted EPS $0.43. For FY2025, the year ended 2025-12-31, revenue was $718.2M and net income $204.3M, up from FY2024, the year ended 2024-12-31, revenue of $616.8M and net income of $189.2M; diluted EPS slipped to $1.77 from $1.78. Revenue is growing, but per-share profit is not compounding quickly. Because this is a REIT, depreciation distorts EPS and P/E, and FFO/AFFO, the right REIT measures, are not in the data. I therefore lean on the 4.71% dividend yield, 0.59 debt-to-equity, 1.28 price-to-book, and FairStock's 6.6% FCF yield. FairStock also calculates a 35.17 P/E, 3.70% ROE, 17.76 EV/EBITDA, 3.17 PEG, 7/9 Piotroski, and 1.16 Altman Z. Leverage looks moderate, but the high P/E, low ROE, and low Altman score warn that the market already pays for quality. The computed Lynch category is STALWART, based on 17.5% annual profit growth and 23.7% revenue growth over five years. At $65.41 on 2026-10-13, near the low end of its 52-week range, the stock looks closer to fair than bargain. I see a steady operator, not a fat pitch.

In plain English: Agree Realty owns retail buildings across the U.S. and leases them to many retail tenants. The business is growing sales and produces strong cash flow, carries moderate debt, and pays a solid dividend. At the recent price, the stock looks roughly fair rather than clearly cheap, and the standard property-company cash-profit figures are missing from the data.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer