Last 7 days
-2.0%
Last 30 days
-2.2%
Last 90 days
-9.8%
Trailing 12 Months
-3.6%
Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
---|---|---|---|---|---|---|---|---|
LARGE-CAP | ||||||||
PSA | 50.3B | 4.3B | -0.67% | -7.84% | 11.56 | 11.69 | 18.80% | 113.99% |
DLR | 28.8B | 4.9B | 1.25% | -24.57% | 77.2 | 5.88 | 9.82% | -73.28% |
EQR | 22.6B | 2.0B | -1.01% | -20.50% | 24.61 | 11.43 | -20.93% | -31.79% |
ARE | 19.1B | 2.7B | -6.88% | -30.41% | 25.48 | 7.14 | 18.91% | 81.13% |
KIM | 13.2B | 1.7B | -4.07% | -25.83% | 104.43 | 7.61 | 15.49% | -81.09% |
MID-CAP | ||||||||
FRT | 7.1B | 1.1B | -8.04% | -21.25% | 18.25 | 6.51 | 10.19% | 46.60% |
KRG | 4.3B | 814.4M | -2.26% | -4.29% | 465.69 | 5.23 | 63.41% | 107.43% |
VNO | 2.6B | 1.8B | -10.72% | -60.29% | -6.95 | 1.42 | 9.23% | -286.27% |
MAC | 2.0B | 857.9M | -0.32% | -17.87% | -23.05 | 2.35 | -1.75% | -315.36% |
SMALL-CAP | ||||||||
SKT | 2.1B | 421.5M | 12.31% | 19.76% | 23.93 | 5.05 | 1.34% | 437.34% |
SLG | 1.4B | 862.4M | -3.29% | -61.71% | -11.46 | 1.67 | 7.01% | -127.00% |
AIV | 1.2B | 184.6M | 6.32% | 29.74% | 12.67 | 6.33 | 2.55% | 1950.56% |
PGRE | 923.1M | 745.2M | 2.66% | -52.44% | -24.26 | 1.24 | 2.17% | -183.81% |
Income Statement (Last 12 Months) | (In Millions) | |||||
---|---|---|---|---|---|---|
Description | (%) Q/Q | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 |
Revenue | 6.6% | 458 | 430 | 405 | 382 | 360 |
S&GA Expenses | 4.0% | 31.00 | 30.00 | 29.00 | 28.00 | 26.00 |
Costs and Expenses | 7.6% | 233 | 217 | 204 | 189 | 176 |
Interest Expenses | 6.4% | 68.00 | 63.00 | 60.00 | 56.00 | 53.00 |
Net Income | 3.7% | 158 | 152 | 145 | 142 | 129 |
Net Income Margin | -1.0% | 0.35* | 0.36* | 0.37* | 0.36* | - |
Free Cahsflow | 10.0% | 362 | 329 | 278 | 262 | - |
Balance Sheet | (In Millions) | |||||
---|---|---|---|---|---|---|
Description | (%) Q/Q | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 |
Assets | 4.1% | 6,986 | 6,713 | 6,556 | 6,038 | 5,639 |
Cash Equivalents | -53.4% | 13.00 | 28.00 | 250 | 26.00 | 25.00 |
Liabilities | 5.1% | 2,189 | 2,083 | 2,007 | 2,064 | 1,963 |
Long Term Debt | - | 1,854 | - | - | - | - |
Shareholder's Equity | 3.6% | 4,798 | 4,629 | 4,547 | 3,974 | 3,676 |
Additional Paid-In Capital | 4.2% | 4,853 | 4,659 | 4,551 | 3,949 | 3,647 |
Shares Outstanding | 3.4% | 93.00 | 90.00 | 89.00 | 80.00 | 75.00 |
Minority Interest | -6.6% | 1.00 | 1.00 | 2.00 | 2.00 | 2.00 |
Cashflow (Last 12 Months) | (In Millions) | |||||
---|---|---|---|---|---|---|
Description | (%) Q/Q | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 |
Cashflow From Operations | 9.0% | 395 | 362 | 329 | 278 | 262 |
Share Based Compensation | 3.0% | 7.00 | 6.00 | 6.00 | 5.00 | 5.00 |
Cashflow From Investing | 6.7% | -1,508 | -1,615 | -1,500 | -1,473 | -1,438 |
Cashflow From Financing | -11.1% | 1,101 | 1,238 | 1,320 | 1,033 | 1,195 |
Dividend Payments | 7.5% | 237 | 220 | 204 | 193 | 182 |
Buy Backs | 45.1% | 3.00 | 2.00 | 2.00 | 2.00 | 2.00 |
19.6%
19.2%
0%
Y-axis is the maximum loss one would have experienced if Agree Realty was unfortunately bought at previous high price.
11.5%
10.2%
8.1%
3.3%
FIve years rolling returns for Agree Realty.
Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
---|---|---|---|---|---|---|
2023-05-23 | Front Row Advisors LLC | reduced | -3.45 | - | 6,000 | -% |
2023-05-23 | Brookfield Corp /ON/ | reduced | -14.11 | -10,352,300 | 50,817,000 | 0.20% |
2023-05-22 | AMERIPRISE FINANCIAL INC | reduced | -49.84 | -16,762,100 | 15,991,900 | -% |
2023-05-19 | Coppell Advisory Solutions LLC | sold off | -100 | -70,930 | - | -% |
2023-05-18 | Harvest Portfolios Group Inc. | reduced | -5.17 | -36,875 | 408,778 | 0.02% |
2023-05-18 | NEW YORK STATE COMMON RETIREMENT FUND | reduced | -25.7 | -1,219,000 | 3,115,000 | -% |
2023-05-18 | JPMORGAN CHASE & CO | added | 33.56 | 24,683,000 | 109,230,000 | 0.01% |
2023-05-17 | VIRGINIA RETIREMENT SYSTEMS ET AL | added | 404 | 5,367,540 | 6,617,770 | 0.07% |
2023-05-17 | Advisory Services Network, LLC | reduced | -2.66 | -8,563 | 137,837 | -% |
2023-05-17 | Thrivent Financial for Lutherans | reduced | -2.99 | -4,712,000 | 71,706,000 | 0.17% |
Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
---|---|---|---|---|---|
Feb 15, 2023 | principal real estate investors llc | 3.49% | 3,095,267 | SC 13G/A | |
Feb 09, 2023 | vanguard group inc | 15.77% | 13,970,181 | SC 13G/A | |
Feb 06, 2023 | state street corp | 6.02% | 5,331,244 | SC 13G/A | |
Jan 26, 2023 | blackrock inc. | 19.4% | 17,163,492 | SC 13G/A | |
Jan 20, 2023 | blackrock inc. | 19.4% | 17,163,492 | SC 13G | |
Feb 15, 2022 | principal real estate investors llc | 5.27% | 3,759,175 | SC 13G | |
Feb 14, 2022 | cohen & steers, inc. | 1.83% | 1,320,582 | SC 13G/A | |
Feb 09, 2022 | vanguard group inc | 15.40% | 11,095,127 | SC 13G/A | |
Feb 09, 2022 | state street corp | 5.36% | 3,861,931 | SC 13G | |
Jan 27, 2022 | blackrock inc. | 19.2% | 13,667,653 | SC 13G/A |
Fair Value | Very Pessimistic | Pessimistic | Base Case | Optimistic | Very Optimistic |
---|---|---|---|---|---|
Very Low Inflation | 73.59 13.93% | 92.77 43.63% | 154.35 138.97% | 211.43 227.34% | 255.53 295.62% |
Current Inflation | 67.57 4.61% | 83.76 29.68% | 135.60 109.94% | 182.83 183.06% | 219.27 239.48% |
Very High Inflation | 60.25 -6.72% | 72.99 13.01% | 113.80 76.19% | 150.09 132.37% | 178.09 175.72% |
Date Filed | Form Type | Document | |
---|---|---|---|
May 26, 2023 | 4 | Insider Trading | |
May 24, 2023 | 4 | Insider Trading | |
May 18, 2023 | 4 | Insider Trading | |
May 18, 2023 | 4 | Insider Trading | |
May 15, 2023 | 4 | Insider Trading | |
May 15, 2023 | 4 | Insider Trading | |
May 11, 2023 | 8-K | Current Report | |
May 10, 2023 | 4 | Insider Trading | |
May 05, 2023 | 424B5 | Prospectus Filed | |
May 05, 2023 | 8-K | Current Report |
Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
---|---|---|---|---|---|---|
2023-05-24 | Agree Joey | bought | 324,550 | 64.91 | 5,000 | president & ceo |
2023-05-17 | Erlich Craig | bought | 98,250 | 65.5 | 1,500 | chief operating officer |
2023-05-17 | Agree Joey | bought | 326,750 | 65.35 | 5,000 | president & ceo |
2023-05-12 | Agree Joey | bought | 331,800 | 66.36 | 5,000 | president & ceo |
2023-05-11 | RAKOLTA JOHN JR | bought | 498,375 | 66.45 | 7,500 | - |
2023-05-08 | RAKOLTA JOHN JR | bought | 712,086 | 67.85 | 10,495 | - |
2023-02-23 | Erlich Craig | acquired | - | - | 6,142 | chief operating officer |
2023-02-23 | Frankel Merrie S. | acquired | - | - | 1,501 | - |
2023-02-23 | Agree Joey | sold (taxes) | -1,914,690 | 73.27 | -26,132 | president & ceo |
2023-02-23 | Spehar Danielle M | sold (taxes) | -63,158 | 73.27 | -862 | general counsel |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
---|---|---|
Mar. 31, 2023 | Mar. 31, 2022 | |
Revenues | ||
Rental income | $ 126,609 | $ 98,312 |
Other | 9 | 30 |
Total Revenues | 126,618 | 98,342 |
Operating Expenses | ||
Real estate taxes | 9,432 | 7,611 |
Property operating expenses | 6,782 | 4,477 |
Land lease expense | 430 | 402 |
General and administrative | 8,821 | 7,622 |
Depreciation and amortization | 40,646 | 28,561 |
Provision for impairment | 0 | 1,015 |
Total Operating Expenses | 66,111 | 49,688 |
Gain (loss) on sale of assets, net | 0 | 2,310 |
Gain (loss) on involuntary conversion, net | 0 | (25) |
Income from Operations | 60,507 | 50,939 |
Other (Expense) Income | ||
Interest expense, net | (17,998) | (13,931) |
Income tax (expense) benefit | (783) | (719) |
Other (expense) income | 48 | 0 |
Net Income | 41,774 | 36,289 |
Less net income attributable to non-controlling interest | 160 | 176 |
Net income attributable to Agree Realty Corporation | 41,614 | 36,113 |
Less Series A preferred stock dividends | 1,859 | 1,859 |
Net Income Attributable to Common Stockholders | $ 39,755 | $ 34,254 |
Net Income Per Share Attributable to Common Stockholders | ||
Basic | $ 0.44 | $ 0.48 |
Diluted | $ 0.44 | $ 0.48 |
Other Comprehensive Income | ||
Net income | $ 41,774 | $ 36,289 |
Amortization of interest rate swaps | (629) | 82 |
Change in fair value and settlement of interest rate swaps | 0 | 20,581 |
Total comprehensive income (loss) | 41,145 | 56,952 |
Less comprehensive income (loss) attributable to non-controlling interest | 158 | 276 |
Comprehensive Income (Loss) Attributable to Agree Realty Corporation | $ 40,987 | $ 56,676 |
Weighted Average Number of Common Shares Outstanding - Basic | 90,028,255 | 71,228,930 |
Weighted Average Number of Common Shares Outstanding - Diluted | 90,548,172 | 71,336,103 |
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
---|---|---|
Real Estate Investments | ||
Land | $ 2,005,606 | $ 1,941,599 |
Buildings | 4,281,164 | 4,054,679 |
Less accumulated depreciation | (347,778) | (321,142) |
Real estate investments excluding property under development | 5,938,992 | 5,675,136 |
Property under development | 73,123 | 65,932 |
Net Real Estate Investments | 6,012,115 | 5,741,068 |
Cash and Cash Equivalents | 11,809 | 27,763 |
Cash Held in Escrows | 1,131 | 1,146 |
Accounts Receivable - Tenants, net | 71,089 | 65,841 |
Lease Intangibles, net of accumulated amortization of $286,748 and $263,011 at March 31, 2023 and December 31, 2022, respectively | 803,654 | 799,448 |
Other Assets, net | 86,629 | 77,923 |
Total Assets | 6,986,427 | 6,713,189 |
LIABILITIES | ||
Mortgage Notes Payable, net | 47,842 | 47,971 |
Senior Unsecured Notes, net | 1,792,611 | 1,792,047 |
Unsecured Revolving Credit Facility | 196,000 | 100,000 |
Dividends and Distributions Payable | 23,071 | 22,345 |
Accounts Payable, Accrued Expenses, and Other Liabilities | 92,733 | 83,722 |
Lease Intangibles, net of accumulated amortization of $37,494 and $35,992 at March 31, 2023 and December 31, 2022, respectively | 36,326 | 36,714 |
Total Liabilities | 2,188,583 | 2,082,799 |
EQUITY | ||
Preferred stock, $.0001 par value per share, 4,000,000 shares authorized, 7,000 shares Series A outstanding, at stated liquidation value of $25,000 per share, at March 31, 2023 and December 31, 2022 | 175,000 | 175,000 |
Common stock, $.0001 par value, 180,000,000 shares authorized, 93,198,079 and 90,173,424 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively | 9 | 9 |
Additional paid-in-capital | 4,852,927 | 4,658,570 |
Dividends in excess of net income | (254,316) | (228,132) |
Accumulated other comprehensive income (loss) | 22,924 | 23,551 |
Total Equity - Agree Realty Corporation | 4,796,544 | 4,628,998 |
Non-controlling interest | 1,300 | 1,392 |
Total Equity | 4,797,844 | 4,630,390 |
Total Liabilities and Equity | $ 6,986,427 | $ 6,713,189 |