REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-10-20 — Q3 FY2026 (quarter ended September 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Agree Realty's Q3 2026 total revenue rose 17% YoY to $213.9M, driven by a 2,888-property portfolio and 99.8% occupancy, while interest expense climbed 16% on higher borrowings.
Biggest Revenue Drivers
Rental income$213.8M+17% YoY
Attributed to acquisition and ownership of an increased number of properties versus the prior-year quarter.
Other$78K
Biggest Revenue Drivers
Total revenue: $213.9M+17% YoY
Rental income$213.8M+17% YoY
Attributed to acquisition and ownership of an increased number of properties versus the prior-year quarter.
Other$78K
Largest Expense Items
Depreciation and amortization$71.9M+18% YoY
Due to acquisition and ownership of an increased number of properties.
Interest expense, net$41.0M+16% YoY
Higher borrowings to finance acquisitions and development, including the 2031 term loan and 2036 notes.
General and administrative$12.4M+14% YoY
Inflationary compensation increases and higher stock-based compensation from changed vesting periods.
Margins: Income from operations rose to $109.6M from $87.3M a year earlier, with net income up 31% to $68.5M. The filing attributes the growth to portfolio expansion, partly offset by higher interest and G&A costs.
Watch Items from the Filing
Interest expense, net rose $5.8M (16%) to $41.0M as borrowings grew to fund acquisitions and development.
Total gross indebtedness of $3.75B; no amounts outstanding under the $1.25B revolver or commercial paper program at period end.
Portfolio was approximately 99.8% leased with a weighted average remaining lease term of about 7.8 years.
Approximately 65.1% of annualized base rent came from investment-grade rated tenants or their parents.
One lease is not considered probable for collection; rental income is recognized on a cash basis for that tenant.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Rossi Jerome RDirectorGrant or award · May 14, 2026
Judlowe MichaelDirectorGrant or award · May 14, 2026
Hollman MichaelDirectorGrant or award · May 14, 2026
He LinglongDirectorGrant or award · May 14, 2026
Congress trading in ADC
11 transactions in ADC reported by 5 members of Congress under the STOCK Act, most recent trade Jan 15, 2026. Reported transactions, not recommendations.
About AGREE REALTY CORP (ADC): stock profile, AI score and financials
AGREE REALTY CORP (ADC) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores ADC at 55.9/100 on a composite quality score built from its SEC filings, placing it at rank #67 of 148 stocks — the top half of the AI-ranked universe. Based on the latest XBRL financial filings (Q3 2026), AGREE REALTY CORP reports quarterly revenue of $213.9M, net income of $68.4M, an operating margin of 51.2%. Top institutional holders of ADC by reported 13-F value include BlackRock, COHEN & STEERS, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. ADC trades on the NYSE exchange and files with the SEC under CIK 917251. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ADC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for AGREE REALTY CORP directly from SEC EDGAR.