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ADC - Agree Realty Corporation

NYSE -> Real Estate -> REIT—Retail
Bloomfield Hills, United States
Type: Equity

ADC price evolution
ADC
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Current assets
Cash $14.52 $6.39 $12.25 $12.94
Short term investments
Net receivables $82.95 $77.75 $70.93 $71.09
Inventory $3.64 $3.2
Total current assets $97.5 $87.33 $79 $82.9
Long term investments
Property, plant & equipment $6743.32 $6614.31 $6273.66 $6012.11
Goodwill & intangible assets $854.09 $849.19 $826 $803.65
Total noncurrent assets
Total investments
Total assets $7774.84 $7647.11 $7272.01 $6986.43
Current liabilities
Accounts payable $101.4 $106.75 $87.69 $92.73
Deferred revenue
Short long term debt
Total current liabilities $126.94 $125.84 $105.75 $109.69
Long term debt $2410.92 $2238.41 $2149.94 $2042.56
Total noncurrent liabilities
Total debt $2410.92 $2232.37 $2143.9 $2036.45
Total liabilities $2574.68 $2401.71 $2293.96 $2188.58
Shareholders' equity
Retained earnings -$346.47 -$316.08 -$284 -$254.32
Other shareholder equity $16.55 $33.29 $25.63 $22.92
Total shareholder equity $5199.21 $5244.28 $4976.84 $4796.54
(in millions $) 31 Dec 2023 31 Jan 2023 31 Dec 2021 31 Dec 2020
Current assets
Cash $14.52 $28.91 $45.25 $7.96
Short term investments
Net receivables $82.95 $65.84 $53.44 $37.81
Inventory $3.64 $5.68 $1.2
Total current assets $97.5 $93.6 $102.37 $45.1
Long term investments
Property, plant & equipment $6743.32 $5801.97 $4367.11 $3304.18
Goodwill & intangible assets $854.09 $799.45 $672.02 $473.59
Total noncurrent assets
Total investments
Total assets $7774.84 $6713.19 $5226.91 $3886.18
Current liabilities
Accounts payable $101.4 $60.16 $70 $71.39
Deferred revenue
Short long term debt
Total current liabilities $126.94 $99.94 $80.68 $105.9
Long term debt $2410.92 $1946.15 $1693.84 $1218.3
Total noncurrent liabilities
Total debt $2410.92 $1940.02 $1687.63 $1218.3
Total liabilities $2574.68 $2084.19 $1807.59 $1359.93
Shareholders' equity
Retained earnings -$346.47 -$228.13 -$147.37 -$91.34
Other shareholder equity $16.55 $23.55 -$5.5 -$36.27
Total shareholder equity $5199.21 $4629 $3417.69 $2524.49
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Revenue
Total revenue $144.16 $136.81 $129.9 $126.62
Cost of revenue $17.5 $15.64 $15.7 $16.21
Gross Profit $126.66 $121.17 $114.2 $110.4
Operating activities
Research & development
Selling, general & administrative $8.7 $8.84 $8.42 $8.82
Total operating expenses $57.48 $58.09 $52.58 $49.9
Operating income $69.18 $63.08 $61.63 $60.51
Income from continuing operations
EBIT $69.03 $63.03 $61.52 $60.4
Income tax expense $0.71 $0.71 $0.71 $0.78
Interest expense $22.37 $20.8 $19.95 $18
Net income
Net income $45.95 $41.52 $40.87 $41.61
Income (for common shares) $44.1 $39.66 $39.01 $39.76
(in millions $) 31 Dec 2023 31 Dec 2022 31 Dec 2021 31 Dec 2020
Revenue
Total revenue $537.5 $429.81 $339.32 $248.57
Cost of revenue $65.05 $50.66 $39.51 $30.45
Gross Profit $472.44 $379.15 $299.81 $218.12
Operating activities
Research & development
Selling, general & administrative $34.79 $30.12 $25.46 $20.79
Total operating expenses $218.06 $161.06 $109.55 $92.99
Operating income $254.39 $218.09 $190.27 $125.13
Income from continuing operations
EBIT $253.99 $218.73 $175.05 $132.56
Income tax expense $2.91 $2.86 $2.4 $1.09
Interest expense $81.12 $63.44 $50.38 $40.1
Net income
Net income $169.96 $152.44 $122.27 $91.38
Income (for common shares) $162.52 $145 $120.13 $91.38
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Net income $45.95 $41.52 $40.87 $41.61
Operating activities
Depreciation $47.26 $45.62 $42.75 $40.65
Business acquisitions & disposals
Stock-based compensation $2.16 $2.17 $2.18 $1.83
Total cash flows from operations $98.01 $109.86 $89.56 $94.17
Investing activities
Capital expenditures -$191.02 -$420.2 -$332.27 -$331.07
Investments -$0.28 -$0.13 $0 -$0.04
Total cash flows from investing -$191.3 -$420.33 -$332.27 -$331.11
Financing activities
Dividends paid -$74.08 -$70.48 -$67.91 -$65.2
Sale and purchase of stock -$0.1 $289.69 $205.1 $192.53
Net borrowings $177.72 $87.75 $106.69 $95.76
Total cash flows from financing $101.42 $304.61 $242.02 $220.97
Effect of exchange rate
Change in cash and equivalents $8.14 -$5.86 -$0.69 -$15.97
(in millions $) 31 Dec 2023 31 Dec 2022 31 Dec 2021 31 Dec 2020
Net income $169.96 $152.44 $122.27 $91.38
Operating activities
Depreciation $176.28 $133.57 $95.73 $66.76
Business acquisitions & disposals
Stock-based compensation $8.34 $6.46 $4.8 $4.7
Total cash flows from operations $391.6 $362.12 $246.31 $142.96
Investing activities
Capital expenditures -$1274.55 -$1615.47 -$1386.15 -$1298.62
Investments -$0.45 -$0.5 -$0.47 -$1.23
Total cash flows from investing -$1275 -$1615.97 -$1386.62 -$1299.84
Financing activities
Dividends paid -$277.68 -$220.3 -$194.3 -$116.11
Sale and purchase of stock $687.21 $1255.91 $743.03 $894.48
Net borrowings $467.93 $210.31 $461.12 $345.14
Total cash flows from financing $869.01 $1237.51 $1177.6 $1122.68
Effect of exchange rate
Change in cash and equivalents -$14.38 -$16.34 $37.3 -$34.2
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Fundamentals
Market cap $5.74B
Enterprise value $8.14B
Shares outstanding 100.53M
Revenue $537.50M
EBITDA $430.27M
EBIT $253.99M
Net Income $169.96M
Revenue Q/Q 23.71%
Revenue Y/Y 25.05%
P/E ratio 33.79
EV/Sales 15.14
EV/EBITDA 18.91
EV/EBIT 32.04
P/S ratio 10.68
P/B ratio 1.11
Book/Share 51.56
Cash/Share 0.14
EPS $1.69
ROA 2.29%
ROE 3.36%
Debt/Equity 0.50
Net debt/EBITDA 5.95
Current ratio 0.77
Quick ratio 0.74