Agree Realty Corporation's SEC filings document the reporting framework of a Maryland retail net lease REIT that operates through Agree Limited Partnership. Form 8-K filings furnish operating results, supplemental financial metrics, investor presentations, weighted-average share calculations, OP Unit disclosures, and Regulation FD updates on portfolio and investment activity.
The filing record also covers capital structure and financing matters, including at-the-market equity programs, forward sale arrangements, common stock, depositary shares representing Series A preferred stock, unsecured credit facilities and term loan agreements. Proxy materials disclose board governance, executive compensation, shareholder voting matters and equity award information.
Agree Realty Corp’s chief accounting officer reports a small share withholding for taxes. On 12/01/2025, the officer filed a Form 4 showing that 262 common shares of Agree Realty Corp were disposed of at a price of $74.64 per share. The filing explains that these shares were withheld by the company to cover tax obligations arising from the vesting of 602 common shares.
After this tax-related withholding, the officer beneficially owned 12,015 common shares directly. This event reflects routine equity compensation and associated tax settlement rather than an open-market sale.
Agree Realty Corp (ADC) reported an insider equity transfer by its President & CEO, who is also a director. On 11/18/2025, the insider reported a transaction coded “G,” indicating a bona fide gift of 1,028 common shares at a reported price of $0, held indirectly by children. After this transaction, the insider beneficially owns 3,962 common shares indirectly by children and 638,688 common shares directly. This filing reflects a personal estate or family-related transfer rather than an open-market trade.
Agree Realty Corp (ADC) executive chairman reports share transfer
Agree Realty Corp’s executive chairman and director reported a Form 4 transaction involving 2,570 common shares on 11/18/2025. The transaction was coded “G,” indicating a gift of shares at a stated price of $0. After this transaction, he reports owning 414,708 common shares directly, 85,512 common shares indirectly through his wife, and 135,855 common shares indirectly through a trust for his children.
Agree Realty Corporation entered into a new $350 million unsecured delayed draw term loan maturing in May 2031, giving it additional flexible borrowing capacity. The company can request increases so total loans under this facility do not exceed $500 million, with interest based on SOFR or a base rate plus a margin tied to its credit rating. Agree Realty also amended its revolving credit agreement to reduce the SOFR credit spread adjustment from 10 basis points to zero, modestly lowering borrowing costs. A second amendment to an existing term loan, combined with $350 million of interest rate swaps, fixes that loan’s interest rate at 4.37% through January 2029.
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.
Agree Realty Corporation (ADC) furnished an 8-K announcing it issued a press release describing results for the third quarter ended September 30, 2025, and posted an updated investor presentation.
The press release is furnished as Exhibit 99.1 and the investor presentation as Exhibit 99.2. The company states this information is furnished, not filed, under the Exchange Act and is not incorporated by reference unless specifically referenced.
Agree Realty Corp. director John Rakolta Jr. reported acquiring 25,154 common shares on 10/07/2025 at a weighted-average price of $70.41 per share (trades ranged from $70.30 to $70.50). After the purchase, the reporting person beneficially owns 553,700.498 shares, which includes 7,313.980 shares added via the dividend reinvestment plan since his last filing. The report was filed as an individual Form 4 and includes a Power of Attorney exhibit.
AGREE REALTY CORP’s Chief Growth Officer Craig Erlich reported an open-market purchase of 360 common shares on 2025-10-03 at $70.845 per share. Following this trade, he holds 52,846 common shares directly, 100 shares indirectly through his wife, 305 indirectly through his children, and 4,898 Depositary Shares Series A directly.
Agree Realty Corp. (ADC) director and President & CEO Joey Agree reported purchasing 3,528 common shares on 10/02/2025 at a weighted average price of $70.63. Following the transaction he directly beneficially owns 638,688 shares and indirectly owns 2,934 shares through his children. The footnote states the reported price is a weighted average for purchases priced between $70.45 and $70.75, and the filer will provide purchase breakdowns on request. The filing was signed by an attorney-in-fact on 10/03/2025.
Agree Realty Corporation filed a current report to disclose its weighted-average common shares outstanding for the three and nine months ended September 30, 2025, and how these figures affect earnings per share calculations. For the quarter, weighted-average common shares outstanding were 111,531,032, with 111,277,316 used in basic EPS and 111,511,615 used in diluted EPS. For the nine-month period, weighted-average common shares outstanding were 109,637,451, with 109,383,735 used in basic EPS and 109,875,336 used in diluted EPS. The company applied the treasury stock method to its forward equity offerings, which added 21,355 weighted-average incremental shares to diluted shares for the quarter and 274,536 for the nine months. Including 347,619 Operating Partnership units, total diluted shares and OP units were 111,859,234 for the quarter and 110,222,955 for the nine months.