Wall Street analyst estimates for Agree Realty Corporation (ADC): consensus price target, buy/hold/sell recommendations and forecasts for revenue and EPS for the upcoming fiscal years.
Agree Realty Corporation functions as a publicly traded Real Estate Investment Trust (REIT), concentrating its efforts on the acquisition and development of commercial properties. These assets are primarily net-leased to leading companies within the retail sector. As of September 30, 2020, the firm oversaw a substantial portfolio of 1,027 properties, which were distributed across 45 U.S.
Consensus price target
$76.50 (+16 % vs price $66.22)
between $72.00 and $84.00 · 7 targets published in the last quarter
Closing price, Oct 28
A twelve-month target is not a fair value: compare it with the range in the Valuation tab.
Revenue and EPS estimates
| Fiscal year | Revenue (average) | Revenue (low – high) | EPS (average) | Analysts |
|---|---|---|---|---|
| 2027E | $929M | $847M – $962M | $1.98 | 5 |
Figures in USD · consensus as of October 29, 2026
Analyst Consensus
| Strong Buy | 1 |
| Buy | 22 |
| Hold | 10 |
| Sell | 0 |
| Strong Sell | 0 |
| Total analysts | 33 |
| Avg rating (−2 sell to +2 buy) | 0.73 |
Recent Earnings Surprises
| Date | EPS Actual | EPS Est. | vs Est. |
|---|---|---|---|
| 2027-02-09 | $0.48 | ||
| 2026-10-20 | $1.15 | $0.47 | +143.2% |
| 2026-07-30 | $0.44 | $0.48 | -7.6% |
| 2026-04-21 | $0.50 | $0.48 | +4.4% |
| 2026-02-10 | $0.47 | $0.47 | -0.1% |
| 2025-10-21 | $0.45 | $0.45 | +0.1% |
| 2025-07-31 | $0.44 | $0.45 | -3.0% |
| 2025-04-22 | $0.42 | $0.42 | -0.6% |
Valuation Ratios
| P/E Ratio | 34.13 |
| Price / Book | 1.19 |
| EV / EBITDA | 18.29 |
| Dividend Yield | 4.79% |
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $91.5M | $111.5M | $137.1M | $187.5M | $248.6M | $339.3M | $429.8M | $537.5M | $617.1M | $718.4M |
| Cost of Revenue | $8.6M | $12.5M | $17.0M | $23.5M | $31.8M | $41.1M | $52.3M | $66.7M | $74.8M | $88.1M |
| Gross Profit | $82.9M | $99.0M | $120.1M | $164.0M | $216.8M | $298.3M | $377.5M | $470.8M | $542.2M | $630.3M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $8.0M | $9.9M | $12.2M | $15.6M | $20.8M | $25.5M | $30.1M | $34.8M | $37.2M | $44.1M |
| Operating Expenses | $31.3M | $36.1M | $47.1M | $49.6M | $83.7M | $108.0M | $159.4M | $216.4M | $240.0M | $289.9M |
| Operating Income | $51.7M | $63.0M | $73.0M | $114.4M | $133.1M | $190.3M | $218.1M | $254.4M | $302.2M | $340.4M |
| EBITDA | $75.1M | $94.7M | $119.0M | $161.9M | $215.8M | $295.7M | $386.2M | $463.9M | $543.3M | $617.1M |
| Interest Expense | $15.3M | $18.1M | $24.9M | $33.1M | $40.1M | $50.4M | $63.4M | $81.1M | $108.9M | $134.6M |
| Pre-tax Income | $46.0M | $59.0M | $59.3M | $81.3M | $93.1M | $125.3M | $155.9M | $173.5M | $194.1M | $206.7M |
| Income Tax | 0 | 0 | $516,000 | $538,000 | $1.1M | $2.4M | $2.9M | $2.9M | $4.3M | $1.7M |
| Net Income | $45.1M | $58.1M | $58.2M | $80.1M | $91.4M | $122.3M | $152.4M | $170.0M | $189.2M | $204.3M |
| EPS | $1.97 | $2.09 | $1.81 | $1.96 | $1.76 | $1.79 | $1.84 | $1.70 | $1.79 | $1.77 |
| EPS (Diluted) | $1.97 | $2.08 | $1.80 | $1.93 | $1.74 | $1.78 | $1.83 | $1.70 | $1.78 | $1.77 |
| Shares Outstanding (Diluted) | 23.0 M | 27.7 M | 32.4 M | 41.2 M | 52.4 M | 67.1 M | 79.2 M | 95.4 M | 101.9 M | 111.2 M |
Price
| Price | $66.22 (closing price, October 28, 2026) |
| Market Cap | $8.2B |
| Exchange | NYSE |
| Country | US |
Related companies: REG · O · BRX · NNN · EPRT · SKT · UE
Explore sector: Real Estate · REIT - Retail
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