Financial insights of ADC

MyFinsight

For the quarter ending 2025-09-30, ADC made $183,222K in revenue. $50,258K in net income. Net profit margin of 27.43%.

Unit: Thousand (K) dollars (except for numbers of shares and EPS)

Income Statement	2025-09-30	2025-06-30	2025-03-31	2024-09-30
Total revenues	183,222	175,527	169,160	154,332
Real estate taxes	13,173	12,833	11,513	11,935
Property operating expenses	8,243	8,416	8,381	6,015
Land lease expense	556	550	485	421
General and administrative	10,887	11,332	10,771	9,114
Depreciation and amortization	61,179	58,939	55,755	51,504
Impairment, long-lived asset, held-for-use	-	-	-	2,694
Provision for impairment	2,980	2,961	4,331	-
Total operating expenses	97,018	95,031	91,236	81,683
Gain on sale of assets, net	924	1,510	772	1,850
Gain (loss) on involuntary conversion, net	132	-	-	-56
Income from operations	87,260	82,006	78,696	74,443
Interest expense, net	35,212	32,274	30,764	28,942
Income and other tax expense	225	425	825	1,077
Other income	456	46	41	104
Net income	52,279	49,353	47,148	44,528
Less net income attributable to non-controlling interest	162	155	152	153
Net income attributable to agree realty corporation	52,117	49,198	46,996	44,375
Less series a preferred stock dividends	1,859	1,859	1,859	1,859
Net income attributable to common stockholders	50,258	47,339	45,137	42,516

Earnings per share, basic	0.45	0.43	0.42	0.42
Earnings per share, diluted	0.45	0.43	0.42	0.42
Weighted average number of shares outstanding, basic	111,277,316	109,758,046	107,048,557	100,383,207
Weighted average number of shares outstanding, diluted	111,511,615	110,377,221	107,547,193	101,715,311