AGREE REALTY CORP
For the period ended Dec 31, 2025. Filed Feb 10, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 10, 2026
ADC$70.20+0.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Equity
| Preferred Stock · Common Stock · AdditionalPaid-In Capital · Dividends inexcess of netincome · AccumulatedOtherComprehensiveIncome (Loss) · Non-ControllingInterest · TotalEquity | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount | ||||||||||
| Balance, December 31, 2022 | 7,000 | $175,000 | 90,173,424 | $9 | $4,658,570 | $(228,132) | $23,551 | $1,392 | $4,630,390 | |
| Issuance of common stock, net of issuance costs | — | — | 10,267,768 | 1 | 689,896 | — | — | — | 689,897 | |
| Repurchase of common shares | — | — | (36,780) | — | (2,684) | — | — | — | (2,684) | |
| Issuance of restricted stock under the 2020 Omnibus Incentive Plan | — | — | 129,775 | — | — | — | — | — | — | |
| Forfeiture of restricted stock | — | — | (14,832) | — | (11) | — | — | — | (11) | |
| Stock-based compensation | — | — | — | — | 8,349 | — | — | — | 8,349 | |
| Series A preferred dividends declared for the period | — | (7,437) | — | — | — | — | — | — | (7,437) | |
| Dividends and distributions declared for the period | — | — | — | — | — | (280,863) | — | (1,015) | (281,878) | |
| Amortization, changes in fair value, and settlement of interest rate swaps | — | — | — | — | — | — | (6,997) | (23) | (7,020) | |
| Net income | — | 7,437 | — | — | — | 162,522 | — | 588 | 170,547 | |
| Balance, December 31, 2023 | 7,000 | $175,000 | 100,519,355 | $10 | $5,354,120 | $(346,473) | $16,554 | $942 | $5,200,153 | |
| Issuance of common stock, net of issuance costs | — | — | 6,630,112 | — | 402,938 | — | — | — | 402,938 | |
| Repurchase of common shares | — | — | (39,318) | — | (2,281) | — | — | — | (2,281) | |
| Issuance of restricted stock under the 2020 Omnibus Incentive Plan | — | — | 147,656 | — | — | — | — | — | — | |
| Forfeiture of restricted stock | — | — | (9,100) | — | (25) | — | — | — | (25) | |
| Stock-based compensation | — | — | — | — | 10,830 | — | — | — | 10,830 | |
| Series A preferred dividends declared for the period | — | (7,437) | — | — | — | — | — | — | (7,437) | |
| Dividends and distributions declared for the period | — | — | — | — | — | (305,909) | — | (1,042) | (306,951) | |
| Amortization, changes in fair value, and settlement of interest rate swaps | — | — | — | — | — | — | 23,522 | 80 | 23,602 | |
| Net income | — | 7,437 | — | — | — | 181,760 | — | 635 | 189,832 | |
| Balance, December 31, 2024 | 7,000 | $175,000 | 107,248,705 | $10 | $5,765,582 | $(470,622) | $40,076 | $615 | $5,510,661 | |
| Issuance of common stock, net of issuance costs | — | — | 12,693,519 | 2 | 904,309 | — | — | — | 904,311 | |
| Repurchase of common shares | — | — | (51,324) | — | (3,740) | — | — | — | (3,740) | |
| Issuance of restricted stock under the 2024 Omnibus Incentive Plan | — | — | 153,925 | — | — | — | — | — | — | |
| Forfeiture of restricted stock | — | — | (16,419) | — | (50) | — | — | — | (50) | |
| Stock-based compensation | — | — | — | — | 13,041 | — | — | — | 13,041 | |
| Series A preferred dividends declared for the period | — | (7,437) | — | — | — | — | — | — | (7,437) | |
| Dividends and distributions declared for the period | — | — | — | — | — | (344,965) | — | (1,071) | (346,036) | |
| Amortization, changes in fair value, and settlement of interest rate swaps | — | — | — | — | — | — | (4,570) | (16) | (4,586) | |
| Net income | — | 7,437 | — | — | — | 196,912 | — | 640 | 204,989 | |
| Balance, December 31, 2025 | 7,000 | 175,000 | 120,028,406 | 12 | 6,679,142 | (618,675) | 35,506 | 168 | 6,271,153 | |
| Cash dividends declared per depositary share of Series A preferred stock: | ||||||||||
| For the twelve months ended December 31, 2023 | $1.063 | |||||||||
| For the twelve months ended December 31, 2024 | $1.063 | |||||||||
| For the twelve months ended December 31, 2025 | $1.063 | |||||||||
| Cash dividends declared per common share: | ||||||||||
| For the twelve months ended December 31, 2023 | $2.919 | |||||||||
| For the twelve months ended December 31, 2024 | $3.000 | |||||||||
| For the twelve months ended December 31, 2025 | $3.081 | |||||||||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.