Here are the 10-Q quarterly reports from Agree Realty Corporation (ADC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ADC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ADC filings page.
Agree Realty Corporation (ADC) reported third-quarter 2026 revenue of $213.884 million, compared with $183.222 million a year earlier, and net income attributable to common stockholders of $66.493 million, versus $50.258 million. Diluted earnings per share were $0.53, compared with $0.45. For the first nine months, cash provided by operating activities was $460.725 million, versus $392.821 million. At September 30, 2026, it owned 2,888 properties totaling approximately 61.1 million square feet and had acquired 235 properties for $1.166739 billion during the nine-month period.
Gross indebtedness was $3.75 billion at September 30, with no balances under the revolving credit facility or commercial paper program. In September, the Operating Partnership completed a $400.0 million offering of 5.65% notes due 2036, priced at 98.497% of principal for $394.0 million before debt issuance costs; the Company received $19.4 million net upon terminating related forward-starting swaps. Monthly common dividends declared during the quarter were $0.267 per share, versus $0.256 in 2025. ADC reported compliance with all material loan covenants.
Agree Realty Corporation generated higher results for the quarter ended June 30, 2026. Total revenues were $205.1 million versus $175.5 million a year earlier, and net income attributable to common stockholders was $52.8 million versus $47.3 million, or $0.44 per diluted share.
Total assets were about $10.6 billion, including $9.24 billion of net real estate investments across 2,825 properties with roughly 59.6 million square feet of gross leasable area. In the first half of 2026 it acquired 167 properties for $857.6 million and sold 21 properties for $38.9 million, recording $7.3 million of impairment charges.
Net cash provided by operating activities was $276.1 million for the first six months. Total gross debt was $3.85 billion, consisting mainly of unsecured term loans, senior unsecured notes and $497.0 million of commercial paper. The company declared monthly common dividends of $0.267 per share and continued Series A preferred dividends of $0.08854 per Depositary Share.
Agree Realty Corporation reported strong results for the quarter ended March 31, 2026, driven by portfolio growth and higher rental income. Rental income rose to $200.7 million from $169.1 million a year earlier, as the company expanded to 2,756 properties with 57.5 million square feet of space.
Net income attributable to common stockholders increased to $60.2 million from $45.1 million, and diluted earnings per share rose to $0.50 from $0.42. Net cash provided by operating activities grew to $145.2 million, supporting continued investment, including 85 property acquisitions totaling $404.3 million. The company also increased its common dividend, declaring $0.786 per share for the quarter.
Agree Realty Corporation (ADC) filed its Q3 2025 10‑Q. Total revenues were $183.2 million for the quarter, driven by rental income of $183.2 million. Net income was $52.3 million, and diluted EPS was $0.45. Operating expenses rose with portfolio growth, including depreciation and amortization of $61.2 million and property-related costs. Interest expense was $35.2 million.
Total assets reached $9.48 billion at September 30, 2025, with net real estate investments of $8.30 billion. Equity stood at $5.87 billion. The company issued common stock during the year, bringing issued and outstanding shares to 114,134,251 at quarter-end; 114,934,390 were outstanding as of October 20, 2025. The board declared common dividends of $0.768 per share for Q2 and Q3 2025 and $0.759 for Q1. Cash from operations was $392.8 million year-to-date, supporting $1.09 billion in acquisitions and development spending. Debt included $2.58 billion in senior unsecured notes and $389.0 million on the revolving credit facility and commercial paper.