Agree Realty Corporation (N:ADC)

Business Focus: Retail REITs

Sector:  Financials Industry:  Commercial REITs
See Regulatory Filings on SEC
Company Contact
Address: 70 E Long Lake Rd
Tel: N/A
IR: See website
Key People
Richard Agree
Executive Chairman of the Board and Director
Joel Agree
President, Chief Executive Officer, Director
Clayton R. Thelen
Chief Financial Officer, Secretary
Laith M. Hermiz
Chief Operating Officer, Executive Vice President
David A. Wolff
Chief Accounting Officer
Danielle M Spehar
General Counsel
Business Overview
Agree Realty Corp (Agree Realty) is an integrated real estate investment trust (REIT) primarily focused on the ownership, acquisition, development and management of retail properties. The Company operates through Agree Limited Partnership (the Operating Partnership). As of May 15, 2019, it owned and operates a portfolio of 703 properties, located in 46 states and containing approximately 12.3 million square feet of gross leasable space. The Company's business objective is to invest in and actively managing a diversified portfolio of retail properties net leased to industry tenants. Its community shopping centers include Capital Plaza, Frankfort; Central Michigan Commons, Mount Pleasant, and West Frankfort Plaza, West Frankfort.
Financial Overview
For the three months ended 31 March 2020, Agree Realty Corporation revenues increased 32% to $55.8M. Net income applicable to common stockholders increased 16% to $21.1M. Revenues reflect FFO per Share (Basic) increase of 10% to $0.74, FFO per Share (Diluted) increase of 14% to $0.74, Other increase from $3K to $26K. Net income was partially offset by Depreciation and amortization increase of 43% to $14.1M (expense).
Employees: 41 as of Dec 31, 2019
Reporting Currency: U.S. Dollars
Enterprise value: $4,331M as of Mar 31, 2020
Annual revenue (TTM): $200.94M as of Mar 31, 2020
EBITDA (TTM): $160.30M as of Mar 31, 2020
Net annual income (TTM): $82.60M as of Mar 31, 2020
Free cash flow (TTM): -$777.32M as of Mar 31, 2020
Net Debt Last Fiscal Year: $950.31M as of Mar 31, 2020
Shares outstanding: 53,851,092 as of May 26, 2020
Index Membership: S&P 600 Small Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization