| Balance Sheets | 2025-09-30 | 2025-06-30 | ||
|---|---|---|---|---|
| Land | 2,787,363 | 2,663,023 | ||
| Buildings | 6,123,531 | 5,872,397 | ||
| Less accumulated depreciation | 677,700 | 638,960 | ||
| Real estate investments excluding property under development | 8,233,194 | 7,896,460 | ||
| Property under development | 64,047 | 62,165 | ||
| Net real estate investments | 8,297,241 | 7,958,625 | ||
| Real estate held for sale, net | 706 | 3,473 | ||
| Cash and cash equivalents | 13,696 | 5,824 | ||
| Cash held in escrow | 3,182 | 3,087 | ||
| Accounts receivable - tenants, net | 117,602 | 108,117 | ||
| Lease intangibles, net of accumulated amortization of 546,136 and 461,419 at september 30, 2025 and december 31, 2024, respectively | 966,964 | 923,092 | ||
| Other assets, net | 84,639 | 82,526 | ||
| Total assets | 9,484,030 | 9,084,744 | ||
| Mortgage notes payable, net | 41,718 | 41,886 | ||
| Unsecured term loan, net | 347,900 | 347,767 | ||
| Senior unsecured notes, net | 2,583,685 | 2,582,892 | ||
| Unsecured revolving credit facility and commercial paper notes | 389,000 | 247,000 | ||
| Dividends and distributions payable | 29,927 | 29,039 | ||
| Accounts payable, accrued expenses, and other liabilities | 161,782 | 132,089 | ||
| Lease intangibles, net of accumulated amortization of 48,671 and 46,003 at september 30, 2025 and december 31, 2024, respectively | 56,777 | 49,667 | ||
| Total liabilities | 3,610,789 | 3,430,340 | ||
| 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 september 30, 2025 and december 31, 2024 | 175,000 | 175,000 | ||
| Common stock, .0001 par value, 360,000,000 and 180,000,000 shares authorized, 114,134,251 and 107,248,705 shares issued and outstanding at september 30, 2025 and december 31, 2024, respectively | 11 | 11 | ||
| Additional paid-in-capital | 6,247,606 | 5,992,510 | ||
| Dividends in excess of net income | 581,162 | 545,372 | ||
| Accumulated other comprehensive income | 31,528 | 31,891 | ||
| Total equity - agree realty corporation | 5,872,983 | 5,654,040 | ||
| Non-controlling interest | 258 | 364 | ||
| Total equity | 5,873,241 | 5,654,404 | ||
| Total liabilities and equity | 9,484,030 | 9,084,744 | ||
AGREE REALTY CORP (ADC)
AGREE REALTY CORP (ADC)