Agree Realty (ADC) Q4 2025 Earnings Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy ADC?
Source: NASDAQ.COM
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy ADC?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on ADC
Wall Street analysts forecast ADC stock price to rise
12 Analyst Rating
9 Buy
3 Hold
0 Sell
Strong Buy
Current: 76.580
Low
75.00
Averages
81.32
High
90.00
Current: 76.580
Low
75.00
Averages
81.32
High
90.00
About ADC
Agree Realty Corporation is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties net-leased to tenants. The Company's assets are held by, and all of its operations are conducted through, directly or indirectly, the operating partnership, of which the Company is the sole general partner. Its portfolio consists of over 2,370 properties located in 50 states and totaling approximately 48.8 million square feet of gross leasable area (GLA). Its portfolio of properties is located in Texas, Ohio, Florida, Michigan, Illinois, North Carolina, New Jersey, Pennsylvania, California, New York, Georgia, Virginia, Connecticut, Wisconsin and others. Its tenants include Walmart, Dollar General, Tractor Supply, Best Buy, Dollar Tree, TJX Companies, O'Reilly Auto Parts, CVS, Kroger, Lowe's, Hobby Lobby, Burlington, Sherwin-Williams, Sunbelt Rentals, Wawa, Home Depot, TBC Corporation, Gerber Collision, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Comparison of ADC and NNN Q4 Earnings Highlights
- Financial Performance Comparison: ADC reported Q4 AFFO of $1.11 per share, a 6.5% year-over-year increase, with full-year AFFO reaching $4.33, indicating strong financial health; in contrast, NNN's AFFO was $0.87 per share, up 6.1%, with revenue rising 9.1%, both exceeding expectations.
- Growth Model Differences: ADC accelerates growth through external financing, raising capital via forward equity offerings and bond issuances, with liquidity exceeding $2 billion and a 2026 investment guidance of $1.4 to $1.6 billion; conversely, NNN relies on internal funding, planning $550 to $650 million in acquisitions for 2026, reducing dependence on capital markets.
- Balance Sheet Defense: ADC's net debt-to-EBITDA ratio stands at 3.8x, demonstrating strong leverage control, while NNN's ratio is 5.6x, higher in absolute terms but with a weighted average debt maturity of 10.8 years, providing a longer defensive period.
- Future Outlook: ADC anticipates 2026 AFFO of $4.54 to $4.58, implying a 5.4% growth rate, while NNN expects $3.52 to $3.58, with a 3.2% growth rate; their dividend yields are 4.2% and 5.5%, respectively, reflecting differing market expectations for growth potential.
See More
Agree Realty Reports Strong Q4 2025 Earnings and Increased 2026 Guidance
- Increased Investment Guidance: Agree Realty raised its 2026 investment guidance to $1.4 billion to $1.6 billion, reflecting a 10% increase from prior estimates, indicating enhanced confidence in expanding its transaction pipeline and driving future revenue growth.
- Strong Liquidity Position: The company reported over $2 billion in liquidity at the end of 2025, including approximately $715 million in outstanding forward equity, showcasing its active capital market engagement and flexible capital allocation capabilities.
- AFFO Growth Projection: The 2026 AFFO per share guidance was set at $4.54 to $4.58, implying a midpoint growth of 5.4%, which reflects ongoing improvements in operational efficiency and asset management, bolstering investor confidence.
- Stable Portfolio Performance: As of year-end 2025, the portfolio occupancy stood at 99.7%, with investment-grade retailers accounting for nearly 67% of annualized base rent, demonstrating the company's success in managing high-quality assets and further solidifying its market position.
See More
Agree Realty (ADC) Q4 2025 Earnings Transcript
See More
AGREE REALTY: SET TO MEET 2026 AFFO PER SHARE TARGET OF $4.54 TO $4.58
Realty Market Outlook: The real estate sector is projected to achieve significant milestones by 2026, indicating a positive trend in the market.
Guidance on Financials: Recent guidance suggests a financial range of $4.54 to $4.58, reflecting expectations for growth and stability in the industry.
See More
Agree Realty Releases Initial 2026 Guidance Amid Strong Q4 Results
- Strong Financial Performance: Agree Realty reported a Q4 FFO of $1.10, aligning with expectations, which demonstrates the company's ongoing ability to maintain stable earnings and boosts investor confidence.
- Significant Revenue Growth: The company achieved Q4 revenue of $190.49 million, an 18.6% year-over-year increase, beating market expectations by $1.11 million, indicating robust growth in its business expansion and rental income.
- 2026 AFFO Guidance: Agree Realty's initial 2026 AFFO per share guidance of $4.54 to $4.58 exceeds the consensus of $4.52, reflecting the company's confidence in its future profitability.
- Increased Investment Guidance: The company raised its 2026 investment guidance to $1.4 billion to $1.6 billion, showcasing its proactive approach to seizing market opportunities and expansion plans aimed at enhancing the value of its asset portfolio.
See More
Agree Realty to Announce Q4 Earnings on February 10
- Earnings Announcement Schedule: Agree Realty is set to release its Q4 earnings on February 10 after market close, with consensus estimates of $1.10 for FFO per share and $189.38 million in revenue, providing investors with an updated view of the company's financial health.
- Earnings Expectations Analysis: The consensus FFO estimate of $1.10 reflects stable performance in rent recapture and asset management, and if actual results exceed expectations, it could positively impact the stock price and bolster investor confidence.
- Investment Trend Observation: Agree Realty's investment volume has slid quarter-over-quarter, indicating challenges in the market environment, prompting investors to watch how the company addresses this trend and provides clearer strategic direction in future guidance.
- 2026 Outlook: The company will provide guidance for 2026 in its earnings report, and investors will closely monitor its expectations for future earnings and market positioning to assess long-term investment value.
See More
Comparison of ADC and NNN Q4 Earnings Highlights
- Financial Performance Comparison: ADC reported Q4 AFFO of $1.11 per share, a 6.5% year-over-year increase, with full-year AFFO reaching $4.33, indicating strong financial health; in contrast, NNN's AFFO was $0.87 per share, up 6.1%, with revenue rising 9.1%, both exceeding expectations.
- Growth Model Differences: ADC accelerates growth through external financing, raising capital via forward equity offerings and bond issuances, with liquidity exceeding $2 billion and a 2026 investment guidance of $1.4 to $1.6 billion; conversely, NNN relies on internal funding, planning $550 to $650 million in acquisitions for 2026, reducing dependence on capital markets.
- Balance Sheet Defense: ADC's net debt-to-EBITDA ratio stands at 3.8x, demonstrating strong leverage control, while NNN's ratio is 5.6x, higher in absolute terms but with a weighted average debt maturity of 10.8 years, providing a longer defensive period.
- Future Outlook: ADC anticipates 2026 AFFO of $4.54 to $4.58, implying a 5.4% growth rate, while NNN expects $3.52 to $3.58, with a 3.2% growth rate; their dividend yields are 4.2% and 5.5%, respectively, reflecting differing market expectations for growth potential.
See More
Agree Realty Reports Strong Q4 2025 Earnings and Increased 2026 Guidance
- Increased Investment Guidance: Agree Realty raised its 2026 investment guidance to $1.4 billion to $1.6 billion, reflecting a 10% increase from prior estimates, indicating enhanced confidence in expanding its transaction pipeline and driving future revenue growth.
- Strong Liquidity Position: The company reported over $2 billion in liquidity at the end of 2025, including approximately $715 million in outstanding forward equity, showcasing its active capital market engagement and flexible capital allocation capabilities.
- AFFO Growth Projection: The 2026 AFFO per share guidance was set at $4.54 to $4.58, implying a midpoint growth of 5.4%, which reflects ongoing improvements in operational efficiency and asset management, bolstering investor confidence.
- Stable Portfolio Performance: As of year-end 2025, the portfolio occupancy stood at 99.7%, with investment-grade retailers accounting for nearly 67% of annualized base rent, demonstrating the company's success in managing high-quality assets and further solidifying its market position.
See More
Agree Realty (ADC) Q4 2025 Earnings Transcript
See More
AGREE REALTY: SET TO MEET 2026 AFFO PER SHARE TARGET OF $4.54 TO $4.58
Realty Market Outlook: The real estate sector is projected to achieve significant milestones by 2026, indicating a positive trend in the market.
Guidance on Financials: Recent guidance suggests a financial range of $4.54 to $4.58, reflecting expectations for growth and stability in the industry.
See More
Agree Realty Releases Initial 2026 Guidance Amid Strong Q4 Results
- Strong Financial Performance: Agree Realty reported a Q4 FFO of $1.10, aligning with expectations, which demonstrates the company's ongoing ability to maintain stable earnings and boosts investor confidence.
- Significant Revenue Growth: The company achieved Q4 revenue of $190.49 million, an 18.6% year-over-year increase, beating market expectations by $1.11 million, indicating robust growth in its business expansion and rental income.
- 2026 AFFO Guidance: Agree Realty's initial 2026 AFFO per share guidance of $4.54 to $4.58 exceeds the consensus of $4.52, reflecting the company's confidence in its future profitability.
- Increased Investment Guidance: The company raised its 2026 investment guidance to $1.4 billion to $1.6 billion, showcasing its proactive approach to seizing market opportunities and expansion plans aimed at enhancing the value of its asset portfolio.
See More
Agree Realty to Announce Q4 Earnings on February 10
- Earnings Announcement Schedule: Agree Realty is set to release its Q4 earnings on February 10 after market close, with consensus estimates of $1.10 for FFO per share and $189.38 million in revenue, providing investors with an updated view of the company's financial health.
- Earnings Expectations Analysis: The consensus FFO estimate of $1.10 reflects stable performance in rent recapture and asset management, and if actual results exceed expectations, it could positively impact the stock price and bolster investor confidence.
- Investment Trend Observation: Agree Realty's investment volume has slid quarter-over-quarter, indicating challenges in the market environment, prompting investors to watch how the company addresses this trend and provides clearer strategic direction in future guidance.
- 2026 Outlook: The company will provide guidance for 2026 in its earnings report, and investors will closely monitor its expectations for future earnings and market positioning to assess long-term investment value.
See More
