AGREE REALTY CORPORATION (ADC)

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=jivedata("ADC","financials")

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AGREE REALTY CORPORATION

ADC • CIK 0000917251

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss) Attributable to Parent	$169,959	$189,197	$204,349	$224,859
Preferred Stock Dividends, Income Statement Impact	$7,437	$7,437	$7,437	$7,437
Net Income (Loss) Available to Common Stockholders, Basic	$162,522	$181,760	$196,912	$217,422
Net Income (Loss) Available to Common Stockholders, Diluted	$162,117	$181,275	$196,465	$217,007
Weighted Average Number of Shares Issued, Basic	95,431,468	101,366,693	110,976,092	122,433,501
Weighted Average Number of Shares, Restricted Stock	240,059	267,441	252,717	204,412
Weighted Average Number of Shares Outstanding, Basic	95,191,409	101,099,252	110,723,375	122,229,089
Weighted Average Number of Shares Outstanding, Diluted	95,437,412	101,876,304	111,200,645	122,653,362
Weighted Average General Partnership Units Outstanding	347,619	347,619	347,619	347,619
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	131,261	201,744	260,567	245,119
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	—	10	—	-9,616

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Land	$2,282,354	$2,514,167	$2,895,495	$3,154,294
Investment Building and Building Improvements	$4,861,692	$5,412,564	$6,330,249	$6,797,679
Cash and Cash Equivalents, at Carrying Value	$10,907	$6,399	$16,295	$12,518
Real Estate Investment Property, Accumulated Depreciation	$433,958	$564,429	$715,733	$800,875
Escrow Deposit	$3,617	$3,617	$4,327	$8,672
Common Stock, Shares Authorized	180,000,000	180,000,000	360,000,000	360,000,000
Accounts Receivable, after Allowance for Credit Loss	$82,954	$106,416	$122,477	$131,211
Development in Process	$33,232	$55,806	$62,690	$92,834
Finite-Lived Intangible Asset, Acquired-in-Place Leases	$854,088	$864,937	$1,000,967	$1,079,428
Real Estate Investment Property, Net	$6,743,320	$7,418,108	$8,572,701	$9,243,932
Other Assets	$76,308	$90,586	$80,845	$101,748
Assets	$7,774,836	$8,486,446	$9,797,612	$10,586,829
Secured Debt	$42,811	$42,210	$41,546	$41,190
Unsecured Debt	$346,798	$347,452	$348,074	$696,277
Senior Notes	$1,794,312	$2,237,759	$2,584,608	$2,586,556
Dividends Payable	$25,534	$27,842	$32,158	$33,922
Accounts Payable and Accrued Liabilities	$101,401	$116,273	$139,384	$141,213
Below Market Lease, Net	$36,827	$46,249	$60,189	$70,540
Liabilities	$2,574,683	$2,975,785	$3,526,459	$4,066,698
Preferred Stock, Value, Issued	$175,000	$175,000	$175,000	$175,000
Common Stock, Value, Issued	$10	$10	$12	$12
Additional Paid in Capital	$5,354,120	$5,765,582	$6,679,142	$6,993,255
Accumulated Distributions in Excess of Net Income	$346,473	$470,622	$618,675	$697,985
Accumulated Other Comprehensive Income (Loss), Net of Tax	$16,554	$40,076	$35,506	$49,854
Stockholders' Equity Attributable to Parent	$5,199,211	$5,510,046	$6,270,985	$6,520,136
Stockholders' Equity Attributable to Noncontrolling Interest	$942	$615	$168	$-5
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$5,200,153	$5,510,661	$6,271,153	$6,520,131
Finite-Lived Intangible Assets, Accumulated Amortization	$360,061	$461,419	$576,945	$641,429
Below Market Lease, Accumulated Amortization	$42,813	$46,003	$49,797	$52,929
Preferred Stock, Shares Authorized	4,000,000	4,000,000	—	4,000,000
Common Stock, Shares, Issued	100,519,355	107,248,705	120,028,406	124,381,214

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	$-14,385	$-8,125	$14,223	$12,279
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$14,524	$6,399	$20,622	$40,658
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$170,547	$189,832	$204,989	$225,528
Net Cash Provided by (Used in) Operating Activities	$391,598	$431,972	$504,136	$533,960
Payments to Acquire Real Estate	$1,206,025	$877,226	$1,438,093	$1,622,102
Payments for Leasing Costs	$447	$2,404	$1,670	$2,241
Proceeds from Sale of Productive Assets	$13,843	$94,331	$42,067	$72,832
Net Cash Provided by (Used in) Investing Activities	$-1,274,997	$-885,407	$-1,543,132	$-1,730,326
Proceeds from Issuance of Common Stock	$689,896	$402,938	$904,311	$992,988
Payments for Repurchase of Common Stock	$2,684	$2,281	$3,740	$6,154
Proceeds from Lines of Credit	$1,231,000	$1,072,000	$28,958,094	$65,548,283
Repayments of Lines of Credit	$1,104,000	$1,141,000	$28,795,594	$65,298,283
Repayments of Secured Debt	$5,527	$963	$1,026	$1,058
Proceeds from Issuance of Unsecured Debt	$350,000	$0	$0	$350,000
Proceeds from Unsecured Notes Payable	$0	$444,722	$397,188	$0
Repayments of Unsecured Debt	$0	—	$50,000	$0
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	$7,437	$7,437	$7,437	$7,437
Payments of Ordinary Dividends, Common Stock	$277,676	$303,604	$340,652	$365,154
Payments to Noncontrolling Interests	$1,012	$1,041	$1,068	$1,088
Payments of Financing Costs	$3,546	$11,948	$6,857	$3,452
Net Cash Provided by (Used in) Financing Activities	$869,014	$445,310	$1,053,219	$1,208,645
Interest Paid, Excluding Capitalized Interest, Operating Activities	$87,481	$123,687	$129,149	$139,116
Income Taxes Paid, Net	$3,065	$3,709	$1,614	$64
Dividends Payable	$25,534	$27,842	$32,158	$35,794
Depreciation, Depletion and Amortization, Nonproduction	$176,277	$206,987	$239,308	$260,408
Amortization of above and below Market Leases	$33,096	$33,236	$36,414	$41,243
Amortization of Debt Issuance Costs and Discounts	$4,737	$6,323	$7,409	$8,154
Share-based Payment Arrangement, Noncash Expense	$8,338	$10,805	$12,991	$13,912
Straight Line Rent	$12,142	$12,711	$17,356	$19,083
Impairment of Real Estate	$7,175	$7,224	$11,872	$11,880
Gain (Loss) on Disposition of Assets	$1,849	$11,508	$5,416	$6,845
Increase (Decrease) in Accounts Receivable	$5,086	$12,089	$-1,183	$4,588
Increase (Decrease) in Other Operating Assets	$-121	$4,800	$6,582	$1,363
Increase (Decrease) in Accounts Payable	$10,384	$14,318	$5,743	$5,723
Real Estate Inventory, Capitalized Interest Costs	$1,957	$1,599	$2,027	$2,061

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Import this data to Google Sheets with:

=jivedata("ADC","financials")

Full statements spill as a table. For one cell: =jivedata("ADC","Revenue") or =jivedata("ADC","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.