ADC Agree Realty Corporation Common Stock
NYSE · Real Estate · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 30, 2026
$65.88
· of 52w range
· above low
· to high
$65.0052w low
$82.0852w high
Market Cap (MRQ)
$8.19B
P/E (TTM)
35.4
EPS (TTM)
$1.86
Revenue (TTM)
$780M
your badges
52W Range
$65–$82
Analyst Rating
BUY
Price Target
$84
P/E
35.4
ROE
3.7%
Net Profit Margin
28.8%
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ADC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$65.88
Market Cap (MRQ)
$8.19B
P/E (TTM)
35.4
EPS (TTM)
$1.86
Revenue (TTM)
$780M
Div Yield
4.3%
ROE (TTM)
3.7%
52W Range
$65–$82
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$718M2016-12-31 → 2025-12-31
EPS$1.772016-12-31 → 2025-12-31
Free Cash Flow·2019-12-31 → 2024-12-31
Net margin28.8%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | ADC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 35.45Y avg ≈39.2 | ≈39.2 | 24.9 | Overvalued | |
| P/S (TTM) | 10.55Y avg ≈13.2 | ≈13.2 | 8.0 | Overvalued | |
| P/B (MRQ) | 1.35Y avg ≈1.4 | ≈1.4 | 2.0 | Undervalued | |
| Price / Cash Flow | 15.75Y avg ≈17.8 | ≈17.8 | 13.2 | Overvalued | |
| Price / Tangible Book (MRQ) | 1.55Y avg ≈1.6 | ≈1.6 | · | · | |
| PEG Ratio | ≈104.2 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | ADC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 47.9%5Y avg ≈50.1% | ≈50.1% | 46.2% | In line | |
| EBITDA Margin | 47.4%5Y avg ≈50.1% | ≈50.1% | 41.6% | Top tier | |
| Net Profit Margin (TTM) | 28.8%5Y avg ≈32.4% | ≈32.4% | 26.1% | In line | |
| ROA (TTM) | 2.3%5Y avg ≈2.4% | ≈2.4% | 3.5% | Weak | |
| ROE (TTM) | 3.7%5Y avg ≈3.7% | ≈3.7% | 6.7% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | ADC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 16.4%5Y avg ≈23.9% | ≈23.9% | · | · | |
| Revenue CAGR 3Y | 18.7%5Y avg ≈23.4% | ≈23.4% | · | · | |
| Revenue CAGR 5Y | 23.6% | · | · | · | |
| EPS YoY | -0.56%5Y avg ≈0.43% | ≈0.43% | · | · | |
| Net Income YoY | 8.0%5Y avg ≈17.9% | ≈17.9% | · | · | |
| EPS CAGR 3Y | -1.1%5Y avg ≈-0.63% | ≈-0.63% | · | · | |
| EPS CAGR 5Y | 0.34% | · | · | · | |
| Net Income CAGR 3Y | 10.3%5Y avg ≈16.3% | ≈16.3% | · | · | |
| Net Income CAGR 5Y | 17.5% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | ADC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.1 | ≈0.1 | 0.1 | Weak | |
| Revenue / Employee | ≈$8.0M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield4.3%
Payout Ratio166.7%
Annualized Payout≈$3.20
Growth Streak≈13
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 31, 2026 | $0.27 | USD | ≈4.4% |
| Jul 31, 2026 | $0.27 | USD | ≈4.1% |
| Jun 30, 2026 | $0.27 | USD | ≈4.1% |
| May 29, 2026 | $0.27 | USD | ≈4.2% |
| Apr 30, 2026 | $0.27 | USD | ≈4.0% |
| Mar 31, 2026 | $0.26 | USD | ≈4.1% |
| Feb 27, 2026 | $0.26 | USD | ≈3.9% |
| Jan 30, 2026 | $0.26 | USD | ≈4.3% |
| Dec 31, 2025 | $0.26 | USD | ≈4.3% |
| Nov 28, 2025 | $0.26 | USD | ≈4.1% |
| Oct 31, 2025 | $0.26 | USD | ≈4.2% |
| Sep 30, 2025 | $0.26 | USD | ≈4.3% |
| Aug 29, 2025 | $0.26 | USD | ≈4.2% |
| Jul 31, 2025 | $0.26 | USD | ≈4.2% |
| Jun 30, 2025 | $0.26 | USD | ≈4.2% |
| May 30, 2025 | $0.26 | USD | ≈4.0% |
| Apr 30, 2025 | $0.26 | USD | ≈3.9% |
| Mar 31, 2025 | $0.25 | USD | ≈3.9% |
| Feb 28, 2025 | $0.25 | USD | ≈4.1% |
| Jan 31, 2025 | $0.25 | USD | ≈4.1% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-2.6%
Next Report
Oct 19, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 29, 2026 | $0.44 | $0.48 | -8.2% |
| March 31, 2026 | $0.50 | $0.48 | 3.1% | |
| Dec. 31, 2025 | $0.47 | $0.48 | -1.4% | |
| Sept. 30, 2025 | $0.45 | $0.46 | -1.8% | |
| June 30, 2025 | $0.43 | $0.46 | -5.9% | |
| March 31, 2025 | $0.42 | $0.43 | -1.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $718M | $617M | $537M | $430M | $339M | $249M | $187M | $137M | $112M | $92M | $70M | $54M | |
| SG&A Expense | $44M | $37M | $35M | $30M | $25M | $21M | $16M | $12M | $9M | $8M | $7M | $7M | |
| Operating Expenses | $383M | $326M | $285M | $217M | $164M | $123M | $86M | $64M | $49M | $40M | $30M | $26M | |
| Operating Income | $340M | $302M | $254M | $218M | $190M | $133M | $114M | $73M | $63M | $52M | $40M | $28M | |
| Interest Expense | · | · | $81M | $63M | $50M | $40M | $33M | $25M | $18M | $15M | $12M | $9M | |
| Other Non-op | $941.0K | $799.0K | $189.0K | $1M | $0 | $23.0K | $0 | $0 | $347.0K | · | · | · | |
| Income Tax | $2M | $4M | $3M | $3M | $2M | $1M | $538.0K | $516.0K | $227.0K | $153.0K | · | · | |
| Net Income | $204M | $189M | $170M | $152M | $122M | $91M | $80M | $58M | $58M | $45M | $39M | $18M | |
| EPS (Basic) | $1.77 | $1.79 | $1.70 | $1.84 | $1.79 | $1.76 | $1.96 | $1.80 | $2.09 | $1.97 | $2.17 | $1.24 | |
| EPS (Diluted) | $1.77 | $1.78 | $1.70 | $1.83 | $1.78 | $1.74 | $1.93 | $1.78 | $2.08 | $1.97 | $2.16 | $1.24 | |
| Shares (Basic) | 110,723,375 | 101,099,252 | 95,191,409 | 78,659,333 | 66,802,242 | 51,838,219 | 40,577,346 | 32,070,255 | 27,625,102 | 22,868,736 | 18,003,122 | 14,882,586 | |
| Shares (Diluted) | 111,200,645 | 101,876,304 | 95,437,412 | 79,164,386 | 67,139,079 | 52,396,734 | 41,223,614 | 32,401,122 | 27,700,347 | 22,959,799 | 18,065,415 | 14,966,895 | |
| EBITDA | $340M | $302M | $254M | $218M | $190M | $125M | $101M | $73M | $62M | $52M | $40M | $28M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $16M | $6M | $11M | $28M | $43M | $6M | $16M | $54M | $51M | $33M | $3M | $5M | |
| PP&E (Net) | · | · | · | · | · | · | · | $1.65B | $1.19B | $943M | $696M | $530M | |
| Intangibles | $941M | $819M | $817M | $763M | $639M | $438M | $317M | $257M | $168M | $113M | $80M | $47M | |
| Total Assets | $9.80B | $8.49B | $7.77B | $6.71B | $5.23B | $3.89B | $2.66B | $2.03B | $1.49B | $1.14B | $790M | $594M | |
| Deferred Tax | · | · | · | · | · | · | · | $475.0K | · | · | · | · | |
| Total Liabilities | $3.53B | $2.98B | $2.57B | $2.08B | $1.81B | $1.36B | $973M | $790M | $583M | $456M | $336M | $238M | |
| Long-term Debt | · | · | · | · | $1.69B | $1.23B | · | $724M | $522M | $404M | $320M | $222M | |
| Common Stock | $12.0K | $10.0K | $10.0K | $9.0K | $7.0K | $6.0K | $5.0K | $4.0K | $3.0K | $3.0K | $2.0K | $1.8K | |
| Paid-in Capital | $6.68B | $5.77B | $5.35B | $4.66B | $3.40B | $2.65B | $1.75B | $1.28B | $936M | $712M | $483M | $388M | |
| Retained Earnings | · | · | · | · | · | · | · | · | · | · | · | $-33M | |
| AOCI | $36M | $40M | $17M | $24M | $-6M | $-36M | $-6M | $1M | $1M | $-536.0K | $-3M | $-2M | |
| Stockholders' Equity | $6.27B | $5.51B | $5.20B | $4.63B | $3.42B | $2.52B | $1.69B | $1.24B | $909M | $683M | $451M | $354M | |
| Liabilities + Equity | $9.80B | $8.49B | $7.77B | $6.71B | $5.23B | $3.89B | $2.66B | $2.03B | $1.49B | $1.14B | $790M | $594M | |
| Shares Outstanding | 120,028,406 | 107,248,705 | 100,519,355 | 90,173,424 | 71,285,311 | 60,021,483 | 45,573,623 | 37,545,790 | 31,004,900 | 26,164,977 | 20,637,301 | 17,539,946 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $239M | $207M | $176M | $134M | $96M | $67M | $46M | $33M | $27M | $23M | $16M | $11M | |
| Stock-based Comp | $13M | $11M | $8M | $6M | $5M | $5M | $4M | $3M | $2M | $2M | $2M | $2M | |
| Operating Cash Flow | $504M | $432M | $392M | $362M | $246M | $143M | $127M | $93M | $82M | $62M | $45M | $35M | |
| CapEx | · | $874M | $1.20B | $1.60B | $1.39B | $1.31B | $703M | $608M | · | · | · | · | |
| Investing Cash Flow | $-1.54B | $-885M | $-1.27B | $-1.62B | $-1.39B | $-1.30B | $-668M | $-568M | $-319M | $-298M | $-203M | $-148M | |
| Stock Issued | $904M | $403M | $690M | $1.26B | $745M | $896M | $473M | $340M | $223M | $228M | $92M | $73M | |
| Stock Repurchased | $4M | $2M | $3M | $2M | $2M | $2M | $1M | $1M | $1M | $712.0K | $0 | $0 | |
| Net Stock Activity | $901M | $401M | $687M | $1.26B | $743M | $894M | $471M | $339M | $222M | $227M | $92M | $73M | |
| Dividends Paid | $341M | $304M | $278M | $220M | $194M | $116M | $90M | $68M | $55M | $42M | $33M | $25M | |
| Financing Cash Flow | $1.05B | $445M | $869M | $1.24B | $1.18B | $1.12B | $529M | $470M | $262M | $267M | $155M | $103M | |
| Net Change in Cash | · | · | · | · | · | · | · | $-5M | $25M | $31M | $-3M | $-9M | |
| Taxes Paid | $2M | $4M | $3M | $2M | $2M | $1M | $666.0K | $452.0K | $257.0K | $153.0K | $155.0K | $0 | |
| Free Cash Flow | · | $-443M | $-808M | $-1.24B | $-1.14B | $-1.17B | $-576M | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 47.4% | 49.0% | 47.3% | 50.7% | 56.1% | 50.3% | 53.9% | 49.3% | 53.5% | 56.3% | 57.3% | 52.1% | |
| Net Margin | 28.4% | 30.7% | 31.6% | 35.5% | 36.0% | 36.8% | 42.7% | 39.2% | 49.9% | 49.3% | 55.8% | 34.5% | |
| EBITDA Margin | 47.4% | 49.0% | 47.3% | 50.7% | 56.1% | 50.3% | 53.9% | 49.3% | 53.5% | 56.3% | 57.3% | 52.1% | |
| ROA | 2.2% | 2.3% | 2.4% | 2.5% | 2.7% | 2.8% | 3.4% | 3.3% | 4.4% | 4.7% | 5.6% | 3.5% | |
| ROE | 3.5% | 3.5% | 3.5% | 3.8% | 4.1% | 4.3% | 5.5% | 5.4% | 7.3% | 8.0% | 9.7% | 5.8% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | 3.1 | 3.4 | 3.8 | 3.1 | 3.1 | 2.9 | 3.4 | 3.4 | 3.3 | 3.2 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $52.25 | $51.38 | $51.72 | $51.33 | $47.94 | $42.06 | $37.07 | $32.92 | $29.31 | $26.10 | $21.86 | $20.16 | |
| Revenue / Share | $6.46 | $6.06 | $5.63 | $5.43 | $5.05 | $4.74 | $4.55 | $4.57 | $4.21 | $3.99 | $3.87 | $3.58 | |
| Cash Flow / Share | $4.53 | $4.24 | $4.10 | $4.57 | $3.67 | $2.73 | $3.07 | $2.88 | $2.97 | $2.69 | $2.47 | $2.34 | |
| Cash / Share | $0.14 | $0.06 | $0.11 | $0.31 | $0.61 | $0.10 | $0.34 | $1.44 | $1.64 | $1.28 | $0.13 | $0.31 | |
| Dividend / Share | $3.08 | $3.00 | $2.92 | $2.81 | $2.41 | · | · | · | · | · | · | · | |
| Dividend Paid / Share | $3.07 | $2.99 | $2.67 | $2.81 | · | · | · | · | · | · | · | · | |
| EPS (TTM) | $1.77 | $1.78 | $1.70 | $1.83 | $1.78 | $1.74 | $1.93 | $1.78 | $2.08 | $1.97 | $2.16 | $1.24 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 16.4% | 14.8% | 25.1% | 26.7% | 36.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 18.7% | 22.1% | 29.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 23.6% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -0.56% | 4.7% | -7.1% | 2.8% | 2.3% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -1.1% | 0.00% | -0.77% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 0.34% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 8.0% | 11.3% | 11.5% | 24.7% | 33.8% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 10.3% | 15.7% | 23.0% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 17.5% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 24.0% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $718M | $617M | $537M | $430M | $339M | $249M | $187M | $137M | $112M | $92M | $70M | $54M | |
| Net Income TTM | $204M | $189M | $170M | $152M | $122M | $91M | $80M | $58M | $58M | $45M | $39M | $18M | |
| Market Cap | $8.65B | $7.56B | $6.33B | $6.40B | $5.09B | $4.00B | $3.20B | $2.22B | $1.59B | $1.20B | $701M | $545M | |
| P/E | 40.7 | 39.6 | 37.0 | 38.8 | 40.1 | 38.3 | 36.4 | 33.2 | 24.7 | 23.4 | 15.7 | 25.1 | |
| P/S | 12.0 | 12.2 | 11.8 | 14.9 | 15.0 | 16.1 | 17.1 | 16.2 | 14.3 | 13.2 | 10.0 | 10.2 | |
| P/B | 1.4 | 1.4 | 1.2 | 1.4 | 1.5 | 1.6 | 1.9 | 1.8 | 1.8 | 1.8 | 1.6 | 1.5 | |
| P / Tangible Book | 1.6 | 1.6 | 1.4 | 1.7 | 1.8 | 1.9 | · | · | · | · | · | · | |
| P / Cash Flow | 17.1 | 17.5 | 16.2 | 17.7 | 20.7 | 28.0 | 25.2 | 23.8 | 19.4 | 19.5 | 15.7 | 15.5 | |
| P / FCF | · | -17.1 | -7.8 | -5.2 | -4.4 | -3.4 | -5.6 | · | · | · | · | · | |
| Dividend Yield | 3.9% | 4.0% | 4.4% | 3.4% | 3.8% | 2.9% | 2.8% | 3.0% | 3.5% | 3.5% | 4.7% | 4.7% | |
| Earnings Yield | 2.5% | 2.5% | 2.7% | 2.6% | 2.5% | 2.6% | 2.8% | 3.0% | 4.0% | 4.3% | 6.3% | 4.0% | |
| Payout Ratio | 166.7% | 160.5% | 163.4% | 144.5% | 158.9% | 127.1% | 112.7% | 116.3% | 94.9% | 93.2% | 84.6% | 137.4% | |
| Annual Payout | $341M | $304M | $278M | $220M | $194M | $116M | $90M | $68M | $55M | $42M | $33M | $25M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $205M | $201M | $190M | $183M | $176M | $169M | $161M | $154M | $153M | $149M | $144M | $137M | $130M | $127M | $117M | $110M | |
| SG&A Expense | $12M | $11M | $11M | $11M | $11M | $11M | $9M | $9M | $10M | $10M | $9M | $9M | $8M | $9M | $8M | $7M | |
| Operating Expenses | $112M | $104M | $100M | $97M | $95M | $91M | $86M | $82M | $78M | $81M | $77M | $74M | $69M | $66M | $59M | $56M | |
| Operating Income | $95M | $99M | $92M | $87M | $82M | $79M | $75M | $74M | $82M | $70M | $69M | $63M | $62M | $61M | $57M | $57M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $24M | · | $21M | $20M | $18M | · | $17M | |
| Other Non-op | $150.0K | $148.0K | $398.0K | $456.0K | $46.0K | $41.0K | $212.0K | $104.0K | $366.0K | $117.0K | $4.0K | $94.0K | $43.0K | $48.0K | $1M | $132.0K | |
| Income Tax | $375.0K | $500.0K | $260.0K | $225.0K | $425.0K | $825.0K | $1M | $1M | $1M | $1M | $709.0K | $709.0K | $709.0K | $783.0K | $723.0K | $720.0K | |
| Net Income | $55M | $62M | $56M | $52M | $49M | $47M | $45M | $44M | $55M | $45M | $46M | $42M | $41M | $42M | $41M | $39M | |
| EPS (Basic) | $0.44 | $0.50 | $0.47 | $0.45 | $0.43 | $0.42 | $0.41 | $0.42 | $0.53 | $0.43 | $0.43 | $0.41 | $0.42 | $0.44 | $0.44 | $0.47 | |
| EPS (Diluted) | $0.44 | $0.50 | $0.47 | $0.45 | $0.43 | $0.42 | $0.41 | $0.42 | $0.52 | $0.43 | $0.43 | $0.41 | $0.42 | $0.44 | $0.44 | $0.46 | |
| Shares (Basic) | 119,996,944 | 119,856,418 | · | 111,277,316 | 109,758,046 | 107,048,557 | · | 100,383,207 | 100,349,943 | 100,284,588 | · | 97,255,143 | 93,053,870 | 90,028,255 | · | 79,701,136 | |
| Shares (Diluted) | 120,487,256 | 120,375,633 | · | 111,511,615 | 110,377,221 | 107,547,193 | · | 101,715,311 | 100,454,703 | 100,336,600 | · | 97,349,473 | 93,134,385 | 90,548,172 | · | 80,589,446 | |
| EBITDA | $95M | $99M | · | $87M | $82M | $79M | · | $74M | $82M | $70M | · | $63M | $62M | $61M | · | $57M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $13M | $25M | $16M | $14M | $6M | $8M | $6M | $13M | $10M | $6M | · | $6M | $8M | $12M | · | $250M | |
| Intangibles | $1.01B | $972M | $941M | · | · | · | · | $793M | $801M | $804M | · | $812M | $788M | $767M | · | $726M | |
| Total Assets | $10.59B | $10.18B | $9.80B | $9.48B | $9.08B | $8.80B | $8.49B | $8.18B | $8.00B | $7.87B | · | $7.65B | $7.27B | $6.99B | · | $6.56B | |
| Short-term Debt | · | · | · | · | · | $0 | · | · | · | · | · | · | · | · | · | · | |
| Total Liabilities | $4.07B | $3.94B | $3.53B | $3.61B | $3.43B | $3.16B | $2.98B | $2.89B | $2.84B | $2.69B | · | $2.40B | $2.29B | $2.19B | · | $2.01B | |
| Total Debt | · | · | · | · | · | $0 | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $12.0K | $12.0K | $12.0K | $11.0K | $11.0K | $11.0K | $10.0K | $10.0K | $10.0K | $10.0K | · | $10.0K | $10.0K | $9.0K | · | $9.0K | |
| Paid-in Capital | $6.99B | $6.68B | $6.68B | $6.25B | $5.99B | $5.95B | $5.77B | $5.53B | $5.36B | $5.35B | · | $5.35B | $5.06B | $4.85B | · | $4.55B | |
| AOCI | $50M | $41M | $36M | $32M | $32M | $29M | $40M | $18M | $31M | $27M | · | $33M | $26M | $23M | · | $24M | |
| Stockholders' Equity | $6.52B | $6.24B | $6.27B | $5.87B | $5.65B | $5.64B | $5.51B | $5.29B | $5.16B | $5.18B | · | $5.24B | $4.98B | $4.80B | · | $4.55B | |
| Liabilities + Equity | $10.59B | $10.18B | $9.80B | $9.48B | $9.08B | $8.80B | $8.49B | $8.18B | $8.00B | $7.87B | · | $7.65B | $7.27B | $6.99B | · | $6.56B | |
| Shares Outstanding | 124,381,214 | 120,103,455 | 120,028,406 | 114,134,251 | 110,666,238 | 110,018,590 | 107,248,705 | 103,522,677 | 100,624,624 | 100,628,975 | · | 100,519,717 | 96,269,336 | 93,198,079 | · | 88,573,248 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $69M | $67M | $63M | $61M | $59M | $56M | $57M | $52M | $50M | $48M | $47M | $46M | $43M | $41M | $38M | $35M | |
| Stock-based Comp | $4M | $4M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Amort. of Intangibles | $33M | $32M | · | · | $28M | $26M | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $131M | $145M | $111M | $147M | $120M | $127M | $91M | $140M | $109M | $99M | $98M | $110M | $90M | $94M | $93M | $119M | |
| CapEx | · | · | · | · | · | · | · | $216M | $188M | $128M | · | $400M | $307M | $304M | · | $362M | |
| Investing Cash Flow | $-483M | $-430M | $-373M | $-444M | $-345M | $-381M | $-348M | $-247M | $-176M | $-122M | $-191M | $-420M | $-332M | $-331M | $-432M | $-362M | |
| Stock Issued | $313M | $0 | $428M | $252M | $41M | $183M | $228M | $175M | $0 | $0 | $-90.0K | $290M | $205M | $195M | $106M | $601M | |
| Stock Repurchased | $10.0K | $6M | $25.0K | $61.0K | $9.0K | $4M | $19.0K | $72.0K | $7.0K | $2M | $12.0K | $57.0K | $8.0K | $3M | $25.0K | $66.0K | |
| Net Stock Activity | · | $-6M | · | · | · | $179M | · | · | · | $-2M | · | · | · | $193M | · | · | |
| Dividends Paid | $96M | $95M | $89M | $85M | $84M | $82M | $78M | $75M | $75M | $75M | $74M | $70M | $68M | $65M | $63M | $56M | |
| Financing Cash Flow | $342M | $296M | $265M | $306M | $223M | $259M | $250M | $95M | $76M | $24M | $101M | $305M | $242M | $221M | $117M | $468M | |
| Taxes Paid | $1M | $-36.0K | $330.0K | $-1M | $2M | $759.0K | $16.0K | $-398.0K | $1M | $3M | $21.0K | $25.0K | $3M | $279.0K | $16.0K | $44.0K | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | $-25M | · | · | · | $-210M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 46.5% | 49.1% | · | 47.6% | 46.7% | 46.5% | · | 48.2% | 53.7% | 47.2% | · | 46.1% | 47.4% | 47.8% | · | 52.1% | |
| Net Margin | 26.7% | 30.9% | · | 28.4% | 28.0% | 27.8% | · | 28.7% | 35.9% | 30.0% | · | 30.3% | 31.5% | 32.9% | · | 35.8% | |
| EBITDA Margin | 46.5% | 49.1% | · | 47.6% | 46.7% | 46.5% | · | 48.2% | 53.7% | 47.2% | · | 46.1% | 47.4% | 47.8% | · | 52.1% | |
| ROA | 0.56% | 0.65% | · | 0.59% | 0.58% | 0.56% | · | 0.56% | 0.72% | 0.60% | · | 0.58% | 0.61% | 0.66% | · | 0.68% | |
| ROE | 0.90% | 1.0% | · | 0.93% | 0.91% | 0.87% | · | 0.84% | 1.1% | 0.90% | · | 0.85% | 0.91% | 0.98% | · | 1.0% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | · | · | · | · | · | 0.0 | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 2.9 | · | 3.0 | 3.1 | 3.4 | · | 3.3 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $52.42 | $51.95 | · | $51.46 | $51.09 | $51.30 | · | $51.14 | $51.30 | $51.46 | · | $52.17 | $51.70 | $51.47 | · | $51.34 | |
| Revenue / Share | $1.70 | $1.67 | · | $1.64 | $1.59 | $1.57 | · | $1.52 | $1.52 | $1.49 | · | $1.41 | $1.39 | $1.40 | · | $1.37 | |
| Cash Flow / Share | · | $1.21 | · | · | · | $1.18 | · | · | · | $1.03 | · | · | · | $1.04 | · | · | |
| Cash / Share | $0.10 | $0.21 | · | $0.12 | $0.05 | $0.07 | · | $0.13 | $0.10 | $0.06 | · | $0.06 | $0.08 | $0.13 | · | $2.83 | |
| Dividend / Share | $0.80 | $0.79 | $0.26 | $0.77 | $0.77 | $0.76 | $0.76 | $0.75 | $0.75 | $0.74 | $0.74 | $0.73 | $0.73 | $0.72 | $0.72 | $0.70 | |
| EPS (TTM) | $1.86 | $1.85 | · | $1.71 | $1.68 | $1.77 | · | $1.80 | $1.79 | $1.69 | · | $1.71 | $1.76 | $1.79 | · | $1.83 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $780M | $750M | · | $689M | $660M | $637M | · | $601M | $583M | $560M | · | $510M | $483M | $458M | · | $405M | |
| Net Income TTM | $225M | $219M | · | $194M | $186M | $191M | · | $190M | $187M | $173M | · | $165M | $163M | $158M | · | $145M | |
| Market Cap | $9.42B | $9.05B | · | $8.11B | $8.09B | $8.49B | · | $7.80B | $6.23B | $5.75B | · | $5.55B | $6.30B | $6.39B | · | $5.99B | |
| Enterprise Value | · | · | · | · | · | $8.48B | · | · | · | · | · | · | · | · | · | · | |
| P/E | 40.7 | 40.7 | · | 41.5 | 43.5 | 43.6 | · | 41.9 | 34.6 | 33.8 | · | 32.3 | 37.2 | 38.3 | · | 36.9 | |
| P/S | 12.1 | 12.1 | · | 11.8 | 12.3 | 13.3 | · | 13.0 | 10.7 | 10.3 | · | 10.9 | 13.0 | 14.0 | · | 14.8 | |
| P/B | 1.4 | 1.5 | · | 1.4 | 1.4 | 1.5 | · | 1.5 | 1.2 | 1.1 | · | 1.1 | 1.3 | 1.3 | · | 1.3 | |
| P / Tangible Book | 1.7 | 1.7 | · | 1.4 | 1.4 | 1.5 | · | 1.7 | 1.4 | 1.3 | · | 1.3 | 1.5 | 1.6 | · | 1.6 | |
| P / Cash Flow | · | 62.4 | · | · | · | 67.0 | · | · | · | 55.7 | · | · | · | 67.9 | · | · | |
| EV / Revenue | · | · | · | · | · | 13.3 | · | · | · | · | · | · | · | · | · | · | |
| Dividend Yield | 3.9% | 3.9% | · | 4.1% | 4.0% | 3.7% | · | 3.8% | 4.7% | 5.0% | · | 4.8% | 4.0% | 3.7% | · | 3.4% | |
| Earnings Yield | 2.5% | 2.5% | · | 2.4% | 2.3% | 2.3% | · | 2.4% | 2.9% | 3.0% | · | 3.1% | 2.7% | 2.6% | · | 2.7% | |
| Payout Ratio | · | 153.0% | · | · | · | 174.2% | · | · | · | 166.5% | · | · | · | 156.7% | · | · | |
| Annual Payout | $365M | $354M | · | $329M | $320M | $311M | · | $299M | $294M | $287M | · | $267M | $252M | $237M | · | $204M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $718M | $617M | $537M | $430M | $339M |
| Operating Margin % | 47.4% | 49.0% | 47.3% | 50.7% | 56.1% |
| Net Income | $204M | $189M | $170M | $152M | $122M |
| Diluted EPS | $1.77 | $1.78 | $1.70 | $1.83 | $1.78 |
No data for this statement
Not enough fundamentals data to build this statement yet.
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | $-443M | $-808M | $-1.24B | $-1.14B |
Institutional owners (13F) 532 filers · $10.7B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
532
Value held
$10.7B
New positions
49
Exited positions
46
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 49 (-25 vs prior Q) | 46 (+3 vs prior Q) | 199 (-8 vs prior Q) | 161 (+13 vs prior Q) | +2.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $1,447,550,998 | 19,112,107 | 13.50% | Shares |
| VANGUARD GROUP INC | $1,133,114,087 | 15,731,141 | 10.57% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $801,973,823 | 10,588,511 | 7.48% | Shares |
| STATE STREET CORP | $445,281,468 | 5,858,959 | 4.15% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $409,385,607 | 5,405,144 | 3.82% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $353,134,132 | 4,662,379 | 3.29% | Shares |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | $282,579,654 | 3,730,917 | 2.64% | Shares |
| TWO SIGMA INVESTMENTS, LP | $267,745,293 | 3,535,058 | 2.50% | Shares |
| Daiwa Securities Group Inc. | $221,297,511 | 2,921,805 | 2.06% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $210,692,524 | 2,781,222 | 1.97% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $166,365,334 | 2,196,532 | 1.55% | Shares |
| TWO SIGMA ADVISERS, LP | $162,664,413 | 2,258,287 | 1.52% | Shares |
| Zimmer Partners, LP | $139,611,542 | 1,843,300 | 1.30% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $135,923,756 | 1,794,541 | 1.27% | Shares |
| PRUDENTIAL FINANCIAL INC | $135,368,815 | 1,787,283 | 1.26% | Shares |
| BANK OF AMERICA CORP /DE/ | $130,921,140 | 1,728,560 | 1.22% | Shares |
| MILLENNIUM MANAGEMENT LLC | $119,867,866 | 1,582,623 | 1.12% | Shares |
| NORGES BANK | $117,492,281 | 1,551,258 | 1.10% | Shares |
| MORGAN STANLEY | $115,524,556 | 1,525,277 | 1.08% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $114,987,000 | 1,518,183 | 1.07% | Shares |
| RAYMOND JAMES FINANCIAL INC | $108,213,461 | 1,428,749 | 1.01% | Shares |
| DEUTSCHE BANK AG\ | $104,747,283 | 1,382,985 | 0.98% | Shares |
| NORTHERN TRUST CORP | $102,705,636 | 1,356,029 | 0.96% | Shares |
| JANUS HENDERSON GROUP PLC | $94,332,202 | 1,251,683 | 0.88% | Shares |
| GOLDMAN SACHS GROUP INC | $93,227,720 | 1,230,891 | 0.87% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $92,533,073 | 1,221,720 | 0.86% | Shares |
| Nuveen, LLC | $88,200,061 | 1,164,511 | 0.82% | Shares |
| JPMORGAN CHASE & CO | $86,375,081 | 1,117,272 | 0.81% | Shares |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO | $83,386,484 | 1,100,957 | 0.78% | Shares |
| SEI INVESTMENTS CO | $75,832,418 | 1,001,224 | 0.71% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $71,423,199 | 943,005 | 0.67% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $71,257,404 | 940,816 | 0.66% | Shares |
| Russell Investments Group, Ltd. | $69,688,925 | 920,097 | 0.65% | Shares |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC | $69,302,403 | 915,004 | 0.65% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $69,302,100 | 915,000 | 0.65% | Shares |
| Bank of New York Mellon Corp | $68,833,815 | 908,817 | 0.64% | Shares |
| RUSH ISLAND MANAGEMENT, LP | $66,183,808 | 873,829 | 0.62% | Shares |
| CINCINNATI INSURANCE CO | $59,796,730 | 789,500 | 0.56% | Shares |
| Holocene Advisors, LP | $59,795,745 | 789,487 | 0.56% | Shares |
| Bahl & Gaynor LLC | $59,400,231 | 784,265 | 0.55% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $57,601,709 | 760,519 | 0.54% | Shares |
| Qube Research & Technologies Ltd | $56,271,866 | 742,961 | 0.52% | Shares |
| TUDOR INVESTMENT CORP ET AL | $55,023,444 | 726,478 | 0.51% | Shares |
| CITADEL ADVISORS LLC | $54,883,476 | 724,630 | 0.51% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $53,347,255 | 707,711 | 0.50% | Shares |
| Legal & General Group Plc | $52,047,317 | 687,184 | 0.49% | Shares |
| AMERICAN CENTURY COMPANIES INC | $48,579,299 | 641,393 | 0.45% | Shares |
| D. E. Shaw & Co., Inc. | $47,965,385 | 633,290 | 0.45% | Shares |
| Heitman Real Estate Securities LLC | $43,779,538 | 578,024 | 0.41% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $41,710,472 | 550,706 | 0.39% | Shares |
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Inland American Real Estate Trust, Inc., Inland Investment Advisors, Inc., Inland Real Estate Investment Corporation, The Inland Group, Inc., Daniel L. Goodwin ×2 filings | June 8, 2009 | · | Initial filing | · | SEC |
| Inland American Real Estate Trust, Inc. (I.R.S. Employer Identification No., Inland Investment Advisors, Inc. ×2 filings | Jan. 7, 2008 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person | June 22, 2006 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 34 insiders · 21 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Joey Agree | PRESIDENT & CEO | Sept. 16, 2026 P | 682,465 | 3 | 0 | $1,752,681 |
| Peter Coughenour | CHIEF FINANCIAL OFFICER | Feb. 23, 2026 F | 26,656 | 1 | 0 | $34,900 |
| Simon Leopold | CFO, EVP & Secretary | March 2, 2021 P | 17,529 | 0 | 0 | $0 |
| Clayton R. Thelen | CFO & Secretary | Feb. 23, 2020 A | 8,390 | 0 | 0 | $0 |
| Matthew Morris Partridge | CFO, Executive VP, Secretary | Aug. 4, 2017 D | 1,082 | 0 | 0 | $0 |
| Brian Robert Dickman | CFO | Aug. 4, 2015 D | 2,883 | 0 | 0 | $0 |
| Alan David Maximiuk | CFO | Jan. 10, 2014 A | 16,500 | 0 | 0 | $0 |
| Kenneth R Howe | Chief Financial Officer | Jan. 8, 2010 A | 78,950 | 0 | 0 | $0 |
| Nicole Witteveen | CHIEF OPERATING OFFICER | Aug. 19, 2026 F | 23,274 | 0 | 0 | $0 |
| Craig Erlich | CHIEF GROWTH OFFICER | Sept. 21, 2026 P | 60,388 | 2 | 0 | $93,052 |
| Richard Agree | EXECUTIVE CHAIRMAN OF BOARD | June 4, 2026 P | 90,512 | 2 | 0 | $2,053,130 |
| Stephen Breslin | CHIEF ACCOUNTING OFFICER | Feb. 23, 2026 F | 13,061 | 0 | 0 | $0 |
| Danielle M Spehar | GENERAL COUNSEL | Feb. 23, 2026 F | 25,785 | 0 | 0 | $0 |
| David A. Wolff | CHIEF ACCOUNTING OFFICER | Feb. 23, 2022 A | 4,405 | 0 | 0 | $0 |
| Laith Hermiz | EVP, Real Estate | Feb. 23, 2021 A | 33,917 | 0 | 0 | $0 |
| Hedley Williams | Chief Investment Officer | Jan. 9, 2012 A | 5,000 | 0 | 0 | $0 |
| Michael James Fitzgerald | VP | Jan. 7, 2011 A | 10,000 | 0 | 0 | $0 |
| David J Prueter | Senior Vice President | Jan. 8, 2010 A | 87,720 | 0 | 0 | $0 |
| Patrick Timothy O'Leary | Vice President | May 11, 2009 A | 6,500 | 0 | 0 | $0 |
| Vicky K Umphryes | Vice President | Jan. 14, 2008 A | 8,000 | 0 | 0 | $0 |
| Nicholas S Coburn | Vice President | Jan. 4, 2005 A | 28,255 | 0 | 0 | $0 |
| John Rakolta JR | Director | Sept. 16, 2026 P | 654,602 | 8 | 0 | $7,930,643 |
| Linglong He | Director | May 14, 2026 A | 9,668 | 0 | 0 | $0 |
| Michael Judlowe | Director | May 14, 2026 A | 15,317 | 0 | 0 | $0 |
| Michael Hollman | Director | May 14, 2026 A | 10,337 | 0 | 0 | $0 |
| Greg Lehmkuhl | Director | May 14, 2026 P | 34,465 | 1 | 0 | $56,318 |
| Merrie S. Frankel | Director | May 14, 2026 A | 11,099 | 0 | 0 | $0 |
| William S. Rubenfaer | Director | Feb. 23, 2021 A | 27,003 | 0 | 0 | $0 |
| Farris G. Kalil | Director | July 1, 2019 S | 8,000 | 0 | 0 | $0 |
| Leon M Schurgin | Director | March 9, 2017 A | 6,712 | 0 | 0 | $0 |
| Gene Silverman | Director | March 9, 2017 A | 26,762 | 0 | 0 | $0 |
| Jerome R Rossi | · | May 14, 2026 A | 12,351 | 0 | 0 | $0 |
| Karen Dearing | · | May 14, 2026 A | 15,616 | 0 | 0 | $0 |
| Bruce J Schaefer | · | Jan. 4, 2005 A | 25,675 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 75 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| JRE · Janus Detroit Street Trust | 2.78% | 1,502 NS | July 31, 2026 | N-PORT |
| XMLV · Invesco Exchange-Traded Fund Trust … | 1.55% | 158,286 | Oct. 1, 2026 | Daily |
| HSMV · First Trust Exchange-Traded Fund III | 1.39% | 6,287 NS | July 31, 2026 | N-PORT |
| BLDG · Cambria ETF Trust | 1.20% | 10,402 NS | July 31, 2026 | N-PORT |
| VRAI · ETFis Series Trust I | 1.13% | 2,690 NS | July 31, 2026 | N-PORT |
| PSR · Invesco Actively Managed Exchange-T… | 0.99% | 8,104 | Oct. 1, 2026 | Daily |
| USRT · iShares Trust | 0.73% | 452,611 SH | Sept. 11, 2026 | Daily |
| DFAR · Dimensional ETF Trust | 0.70% | 160,189 NS | July 31, 2026 | N-PORT |
| IYR · iShares Trust | 0.65% | 369,887 SH | Sept. 11, 2026 | Daily |
| FREL · FIDELITY COVINGTON TRUST | 0.57% | 109,348 NS | July 31, 2026 | N-PORT |
| VFMV · VANGUARD WELLINGTON FUND | 0.55% | 30,172 SH | Aug. 19, 2026 | Daily |
| VNQ · VANGUARD SPECIALIZED FUNDS | 0.48% | 4,571,059 SH | Aug. 19, 2026 | Daily |
| REET · iShares Trust | 0.47% | 322,001 SH | Sept. 11, 2026 | Daily |
| DFGR · Dimensional ETF Trust | 0.45% | 225,196 NS | July 31, 2026 | N-PORT |
| ERET · iShares Trust | 0.37% | 695 SH | Sept. 11, 2026 | Daily |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.29% | 56,634 SH | Aug. 19, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.26% | 13,264 NS | July 31, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.26% | 15,786 | Oct. 1, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.25% | 193,887 SH | Aug. 19, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.24% | 20,316 NS | July 31, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.21% | 53,246 SH | Aug. 19, 2026 | Daily |
| MIDU · Direxion Shares ETF Trust | 0.20% | 1,761 NS | July 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.20% | 51,843 NS | July 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.20% | 63,514 NS | July 31, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.19% | 1,748,758 SH | Aug. 19, 2026 | Daily |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.15% | 8,943 NS | July 31, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.14% | 17,130 | Oct. 1, 2026 | Daily |
| FDLO · FIDELITY COVINGTON TRUST | 0.14% | 25,502 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.13% | 17,631 SH | Sept. 11, 2026 | Daily |
| RDIV · Invesco Exchange-Traded Fund Trust … | 0.13% | 26,780 | Oct. 1, 2026 | Daily |
| SMMD · iShares Trust | 0.12% | 63,222 SH | Sept. 11, 2026 | Daily |
| PGX · Invesco Exchange-Traded Fund Trust … | 0.11% | 258,228 | Oct. 1, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.11% | 2,755,373 SH | Aug. 19, 2026 | Daily |
| FTLS · First Trust Exchange-Traded Fund III | 0.10% | 32,930 NS | July 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.10% | 39,245 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.10% | 1,376,725 SH | Aug. 19, 2026 | Daily |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 28,503 NS | July 31, 2026 | N-PORT |
| IWS · iShares Trust | 0.08% | 175,580 SH | Sept. 11, 2026 | Daily |
| WSML · iShares Trust | 0.08% | 7,492 SH | Sept. 11, 2026 | Daily |
| GTO · Invesco Actively Managed Exchange-T… | 0.07% | 2,134,000 | Oct. 1, 2026 | Daily |
| IWR · iShares Trust | 0.06% | 486,385 SH | Sept. 11, 2026 | Daily |
| PFF · iShares Trust | 0.05% | 422,087 SH | Sept. 11, 2026 | Daily |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.03% | 71,389 SH | Aug. 19, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.03% | 5,620 | Sept. 30, 2026 | Daily |
| PFM · Invesco Exchange-Traded Fund Trust | 0.03% | 3,421 | Sept. 30, 2026 | Daily |
| IWD · iShares Trust | 0.02% | 262,345 SH | Sept. 11, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.02% | 26,759 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.02% | 5,056 NS | July 31, 2026 | N-PORT |
| IUSV · iShares Trust | 0.02% | 57,567 SH | Sept. 11, 2026 | Daily |
| ROUS · Lattice Strategies Trust | 0.01% | 1,295 NS | July 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.01% | 17,850 | Oct. 1, 2026 | Daily |
| IYY · iShares Trust | 0.01% | 5,124 SH | Sept. 11, 2026 | Daily |
| IWB · iShares Trust | 0.01% | 82,290 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.01% | 157,134 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 32,885 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 3,815,213 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 90,559 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.01% | 19,787 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 9,942 SH | Aug. 19, 2026 | Daily |
| IUSG · iShares Trust | 0.01% | 46,094 SH | Sept. 11, 2026 | Daily |
| BIV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VUSB · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 14, 2026 | Daily |
| IJH · iShares Trust | · | 4,208,159 SH | Sept. 11, 2026 | Daily |
| IJK · iShares Trust | · | 312,821 SH | Sept. 11, 2026 | Daily |
| IJJ · iShares Trust | · | 336,301 SH | Aug. 21, 2026 | Daily |
| XJH · iShares Trust | · | 16,382 SH | Sept. 8, 2026 | Daily |
| ISCB · iShares Trust | · | 5,315 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 14,247 SH | Sept. 11, 2026 | Daily |
| SMMV · iShares Trust | · | 51,026 SH | Sept. 1, 2026 | Daily |
ADC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 25 analysts
BUY
Median target
$83.50
+26.7%
6 24.0%
Strong Buy
10 40.0%
Buy
9 36.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
18 analysts · 2026-09-29Mean target $83.83 +27.3%
← Below all targets
Current price $65.88
Low$72.00
Mean$83.83
High$93.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ADC | $8.65B | 40.7 | 16.4% | 28.4% | 3.5% | · |
| O | $52.65B | 48.2 | 9.1% | 18.4% | 2.7% | · |
| KIM | $13.66B | 9.0 | 5.1% | 27.3% | 5.6% | · |
| REG | $12.63B | 47.3 | 6.9% | 34.0% | 7.7% | · |
| FRT | $8.70B | 21.5 | 6.4% | 32.1% | 12.8% | · |
| BRX | $8.03B | 21.0 | 6.7% | 28.2% | 12.9% | · |
| NNN | $7.53B | 19.1 | 6.6% | 42.1% | 8.9% | · |
| MAC | $4.74B | -23.7 | 10.4% | -19.4% | -7.6% | · |
| PECO | $4.47B | 40.0 | 9.9% | 15.3% | 4.8% | · |
| KRG | $5.01B | 17.5 | 0.82% | 35.4% | 9.3% | · |
| SKT | · | 35.9 | · | · | · | · |
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
No open signal right now — no card is filled, and that's honest.
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Source: SEC 10-Q filed Jul 30, 2026