What is the 13F Pro Quality Score for ADC?

13F Pro ranks AGREE REALTY CORP (ADC) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View ADC's current score at https://13fpro.ai/research/ADC (free sign-up required for the full ranking).

Which hedge funds own the most ADC stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of ADC include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/ADC as soon as new 13F filings post.

Where does 13F Pro source ADC data?

All AGREE REALTY CORP fundamentals and ownership data come directly from SEC EDGAR. AGREE REALTY CORP files with the SEC under CIK 917251. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is ADC in?

AGREE REALTY CORP (ADC) is classified in the Real Estate sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/real-estate.

How often is ADC research updated on 13F Pro?

ADC's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

AGREE REALTY CORP(ADC)Stock Analysis

AI analysis on 2,800+ stocks →Deep AI analysis on 2,800+ stocks →

Real Estate →NYSE

Institutional-grade research for retail investors

SEC EDGAR: CIK 917251 ADC stock profile & AI dashboard →

13F Pro Quality Score

57.4/100

Rank #1,046 of 2,879 stocksTOP 50%

View Real Estate peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

76.1/100

Profitability

88.0/100

Balance Sheet

52.7/100

Earnings Quality

57.3/100

Free Cash Flow

9.1/100

Institutional Flow

75.8/100

Revenue Scale

43.3/100

Dilution Risk

42.9/100

ADC Stock Analysis & AI Quality Score

AI stock analysis and institutional research for AGREE REALTY CORP (ADC), a Real Estate sector company. 13F Pro's AI-powered ranking engine scores ADC at 57.4/100 on a 32-signal composite quality model, placing it at rank #1,046 of 2,879 stocks — the top half of the AI-ranked universe. ADC scores in the top quartile across profitability (88.0), revenue growth (76.1), institutional flow (75.8). Areas of concern include free cash flow (9.1), which score below median versus the broader universe. Shareholder dilution risk is elevated at 42.9/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), AGREE REALTY CORP reports quarterly revenue of $200.8M, net income of $62.1M, an operating margin of 49.1%. Top institutional holders of ADC by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET, 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. AGREE REALTY CORP's 13F Pro composite quality score has ranged between 52 and 68 since 2021, currently 57.4 — a declining long-term trajectory across 28 quarterly and live scoring snapshots.

✦

Fun facts about AGREE REALTY CORP

Quirks, history, and lore behind ADC — the kind of stuff that makes a stock memorable.

1
The Basics
A U.S. real estate investment trust · net-lease focused · listed on the NYSE · headquartered in Michigan.
2
The Numbers
Owns roughly 2,000+ properties across the country, with a portfolio weighted heavily toward necessity-based retail tenants — the kind of stores that survive recessions.
3
The History
Founded in the 1990s, it spent years as a modest Midwest REIT before aggressively expanding its portfolio through single-tenant acquisitions and becoming a darling of income investors.
4
The Secret
Its leasing strategy deliberately targets investment-grade tenants — think big-box drug stores, dollar stores, and auto-parts retailers — so the rent checks almost always clear.
5
The Lore
It pays monthly dividends, a habit that makes income-hungry retirees very happy, and has a reputation for being one of the cleaner, lower-drama names in the net-lease REIT space.
6
The Giveaway
Its ticker spells out something pleasant and harmonious, its name evokes a handshake deal on solid ground, and its tenants include chains like Walmart, Dollar General, and Walgreens.

▶ Think you know your stocks? Play the Daily Ticker

Revenue

Q1 2026

$200.8M

Net Income

Q1 2026

$62.1M

Free Cash Flow

Q1 2026

$145.2M

Operating Margin

Q1 2026

49.1%

ROIC

Q1 2026

1.6%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+43.6% YoY

$617.1MFY 2024

FY20 $248.6MFY21 $339.3MFY22 $429.8MFY24 $617.1M

Net Income

+24.1% YoY

$189.2MFY 2024

FY20 $91.4MFY21 $122.3MFY22 $152.4MFY24 $189.2M

Operating Income

+38.6% YoY

$302.2MFY 2024

FY20 $133.1MFY21 $190.3MFY22 $218.1MFY24 $302.2M

EPS (Diluted)

-2.7% YoY

$1.78FY 2024

FY20 $1.74FY21 $1.78FY22 $1.83FY24 $1.78

Total Assets

+26.4% YoY

$8.49BFY 2024

FY20 $3.89BFY21 $5.23BFY22 $6.71BFY24 $8.49B

Total Debt

—FY 2024

FY20 $1.23BFY21 $1.69BFY22 —FY24 —

Op. Cash Flow

+19.3% YoY

$432.0MFY 2024

FY20 $143.0MFY21 $246.3MFY22 $362.1MFY24 $432.0M

Metric	FY 2024	FY 2022	FY 2021	FY 2020	FY 2018	FY 2017
Revenue	$617.1M +43.6%	$429.8M +26.7%	$339.3M +36.5%	$248.6M +81.3%	$137.1M +23.0%	$111.5M
Net Income	$189.2M +24.1%	$152.4M +24.7%	$122.3M +33.8%	$91.4M +57.1%	$58.2M +0.1%	$58.1M
Operating Income	$302.2M +38.6%	$218.1M +14.6%	$190.3M +42.9%	$133.1M +82.4%	$73.0M +16.0%	$63.0M
EPS (Diluted)	$1.78 -2.7%	$1.83 +2.8%	$1.78 +2.3%	$1.74 -2.2%	$1.78 -14.4%	$2.08
Total Assets	$8.49B +26.4%	$6.71B +28.4%	$5.23B +34.5%	$3.89B +91.6%	$2.03B +35.7%	$1.49B
Total Debt	—	—	$1.69B +38.2%	$1.23B +69.2%	$724.1M +38.6%	$522.4M
Operating Cash Flow	$432.0M +19.3%	$362.1M +47.0%	$246.3M +72.3%	$143.0M +53.3%	$93.2M +13.4%	$82.2M

AI Insight: ADC Financial Trends

ADC delivers eight straight quarters of revenue and operating income growth, with Q1 2026 hitting record highs of $201M revenue and $99M operating income.

• Revenue grew 31% from $153M in Q2 2024 to $201M in Q1 2026, reflecting consistent sequential acceleration.

• Operating income expanded from $82M in Q2 2024 to $99M in Q1 2026, with operating margin improving from 53.6% to 49.3%.

• Net income rebounded to $62M in Q1 2026, the highest in the observed period, up from a trough of $44M in Q3 2024.

• Equity base expanded steadily from $5,162M in Q2 2024 to $6,271M in Q4 2025, supporting balance sheet strength.

⚠ Total debt data is absent across all periods, making leverage and interest coverage trends impossible to assess.

⚠ Operating CF is lumpy — dropping to $91M in Q4 2024 and $111M in Q4 2025 — suggesting seasonal collection variability.

⚠ Equity dipped slightly from $6,271M in Q4 2025 to $6,239M in Q1 2026 — first sequential decline in eight quarters.

AI Insight: ADC Ratio Trends

ADC profitability is recovering steadily, with Q1 2026 operating margin reaching 49.1% and ROIC climbing back to 6.3% — matching the Q2 2024 peak.

• Operating margin troughed at 46.5% in Q1 2025 and has since rebounded to 49.1% in Q1 2026 — a 260bp recovery over four quarters.

• ROIC expanded from 5.5% in Q4 2024 to 6.3% in Q1 2026, fully retracing the mid-2024 drawdown.

• ROE improved from 3.3% in Q1 2025 to 4.0% in Q1 2026, while ROA rose from 2.1% to 2.4% over the same period.

• Net profit margin recovered to 30.9% in Q1 2026 from a low of 27.8% in Q1 2025, but still trails the 35.9% recorded in Q2 2024.

⚠ D/E data is absent across all periods — leverage visibility is zero, a meaningful gap for a capital-intensive REIT.

⚠ NPM at 30.9% in Q1 2026 remains well below Q2 2024's 35.9% peak; confirming that gap closes is key to the recovery thesis.

Get alerted when ADC's score changes

Free account: watchlist tracking, the daily AI brief, and the AI screener.

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Available Research

13F Pro tracks comprehensive data for AGREE REALTY CORP including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of ADC

BlackRock, Inc.
$1.3B17,890,008 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$773.4M10,260,006 sh
STATE STREET CORP
$451.3M5,966,403 sh
VANGUARD CAPITAL MANAGEMENT LLC
$403.0M5,346,433 sh
PRINCIPAL FINANCIAL GROUP INC
$341.2M4,526,088 sh
TWO SIGMA INVESTMENTS, LP
$304.7M4,041,693 sh
CENTERSQUARE INVESTMENT MANAGEMENT LLC
$258.5M3,429,575 sh
Zimmer Partners, LP
$248.5M3,296,414 sh
Daiwa Securities Group Inc.
$223.3M2,961,683 sh
GEODE CAPITAL MANAGEMENT, LLC
$203.5M2,698,758 sh

Fund	Value	Shares
BlackRock, Inc.	$1.3B	17,890,008
VANGUARD PORTFOLIO MANAGEMENT LLC	$773.4M	10,260,006
STATE STREET CORP	$451.3M	5,966,403
VANGUARD CAPITAL MANAGEMENT LLC	$403.0M	5,346,433
PRINCIPAL FINANCIAL GROUP INC	$341.2M	4,526,088
TWO SIGMA INVESTMENTS, LP	$304.7M	4,041,693
CENTERSQUARE INVESTMENT MANAGEMENT LLC	$258.5M	3,429,575
Zimmer Partners, LP	$248.5M	3,296,414
Daiwa Securities Group Inc.	$223.3M	2,961,683
GEODE CAPITAL MANAGEMENT, LLC	$203.5M	2,698,758

More Real Estate Companies

View all Real Estate →

AAT

American Assets Trust, Inc.

ABR

ARBOR REALTY TRUST INC

ACR

ACRES Commercial Realty Corp.

ACRE

Ares Commercial Real Estate Corp

ADAM

ADAMAS TRUST, INC.

AEI

Alset Inc.

AGNC

AGNC Investment Corp.

AGNT

AGNT, Inc.

Put ADC on your watchlist

Track score changes the day AGREE REALTY CORP files with the SEC, follow the hedge funds that own it, screen 2,800+ AI-scored stocks, and get the daily brief — free.

View Pricing

Free tier includes 13F data, economic indicators, and market overview. Pro starts at $6.67/mo (billed annually).

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Popular Research

AAPL

Apple

MSFT

Microsoft

NVDA

NVIDIA

GOOG

Alphabet

AMZN

Amazon

Is ADC a good stock to buy?

13F Pro's AI-powered analysis of AGREE REALTY CORP (ADC) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Real Estate sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for ADC are available on the ADC stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own ADC?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling ADC. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of AGREE REALTY CORP's investment landscape.