Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of net leased properties to industry leading retail tenants.
| Revenue (TTM) | $779.62M |
| Gross Profit (TTM) | $683.38M |
| EBITDA | $676.10M |
| Operating Margin | 48.10% |
| Return on Equity | 3.70% |
| Return on Assets | 2.40% |
| Revenue/Share (TTM) | $6.69 |
| Book Value | $51.09 |
| Price-to-Book | 1.32 |
| Price-to-Sales (TTM) | 10.80 |
| EV/Revenue | 15.91 |
| EV/EBITDA | 18.34 |
| Quarterly Earnings Growth (YoY) | 2.10% |
| Quarterly Revenue Growth (YoY) | 16.80% |
| Shares Outstanding | $124.38M |
| Float | $121.84M |
| % Insiders | 1.77% |
| % Institutions | 117.70% |
Volatility is currently expanding
Many REITs are repriced to the downside and offer better yields. Yet this is just optics, as the underlying problem is very significant. The issue I see is that at the current valuations and market dynamics, REITs can't (or should not) be considered solid passive income investments.
Boomer income investors want one thing above the rest: reliable checks that land every month. This September lineup spreads that mandate across four distinct income engines: net-lease retail, industrial warehouses, lower-middle-market private credit, and buyout-focused private credit.
Agree Realty Corporation maintains strong fundamentals, with robust credit metrics and a portfolio of 2,824 retail properties. ADC common stock trades at a 1.34x price-to-book and a 5.21% AFFO yield, supporting a 'hold' rating due to limited near-term upside. ADC.PR.A preferred stock offers a 6.64% yield and investment-grade ratings but faces interest rate risk and a narrowed spread, making alternatives more attractive.
Retirees living off portfolio income want predictable cash flow, not a guessing game.
Realty Income is a net-lease REIT giant and has always been a bit of a dividend-growth tortoise. Agree Realty is a smaller, faster-growing net-lease REIT, and higher rates could be a big near-term headwind.
Monthly-paying REITs can deliver income that actually keeps pace with rising prices, but not all of them are built to last through recessions, rate swings, and market chaos.
Two net lease REITs both pay monthly dividends and share the same landlord model, yet their tenant quality, payout cushion, and growth trajectories tell a very different story for retirees trying to protect a steady income stream.
Agree Realty stands out as the highest quality growth story in net lease, earning a Buy rating despite rising rates. ADC's key advantage is its ability to achieve accretive growth via a positive spread between acquisition cap rates and AFFO yield, unlike peers NNN and O. Low leverage (3.7x net debt/EBITDA post-forward equity) and a substantial equity cushion insulate ADC from rising debt costs.
Quarterly dividend checks create a cash flow puzzle that leaves retirees scrambling to cover monthly bills, but a small group of stocks has quietly solved that problem in a way most income investors overlook.
Agree Realty Corporation is reiterated as a Buy, supported by robust AFFO per share growth and increased investment guidance. ADC raised full-year AFFO per share guidance to $4.57–$4.59 and investment volume to $1.6–$1.8 billion as it continues the accretive acquisitions. Despite macro headwinds and rising treasury yields, ADC's disciplined balance sheet and high-quality tenant base underpin its resilience and margin of safety.
Tiblio connects your broker and runs your put-and-call-writing strategy for you — on ADC and any ticker you trade — then tracks every position and per-strategy win rate.
