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Agree Realty ADC Secured Debt

Secured Debt at other companies

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NexPoint Real Estate FinanceNREF
$106.15M+11.3%
Sabra Healthcare logo
Sabra HealthcareSBRA
$42.76M-4.6%
KKR Real Estate Finance Trust logo
KKR Real Estate Finance TrustKREF
$630.42M+17.8%
Metropolitan Bank Holding Corp. logo
Metropolitan Bank Holding Corp.MCB
$15.94M-8.2%
First Industrial Realty Trust logo
First Industrial Realty TrustFR
$9.21M-3.7%
Equity Residential logo
Equity ResidentialEQR
$1.59B-0.2%

Other financials

Income statement

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Revenue$200.8M+18.7%
Operating income$98.6M+25.2%
Net income$62.1M+32.0%
EPS (diluted)$0.50+19.0%

Balance sheet

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Cash & equivalents$31.2M+179%
Total debt$3.8B+16,437%
Total equity$6.2B+10.5%
Total assets$10.2B+15.7%

Cash flow

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Operating cash flow$145.2M+14.6%

Valuation

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Market cap$9.41B+16.6%
Enterprise value$13.17B+63.0%
P/E42.9×-0.5×
P/S12.5×+0.3×

Profitability

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Operating margin48%-0.7pp
Net margin29.3%-0.8pp

Returns & leverage

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Return on equity3.7%+0.2pp
Debt / equity0.6×+0.6×

Where this comes from

Reported directly by Agree Realty in its filing.

Tagged under the XBRL concept us-gaap:SecuredDebt.

The source filing: Agree Realty’s 10-Q, filed April 21, 2026.

Filed
Apr 21, 2026, 4:06 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000917251-26-000047
Line itemMarch 31, 2026December 31, 2025
Other assets, net96,86180,845
Total Assets$10,180,243$9,797,612
LIABILITIES
Mortgage notes payable, net$41,370$41,546
Unsecured term loans, net596,683348,074
Senior unsecured notes, net2,585,6182,584,608
Unsecured revolving credit facility and commercial paper notes469,650320,500
Dividends and distributions payable32,17832,158

Item 1. Financial Statements (Unaudited)

FAQ

What is Agree Realty's secured debt?
Agree Realty (ADC) reported secured debt of $41.37M in Q1 2026.
How has Agree Realty's secured debt changed year-over-year?
Agree Realty's secured debt decreased by 1.6% year-over-year, from $42.05M to $41.37M.
What is the long-term trend for Agree Realty's secured debt?
Over 5 years (2020 to 2025), Agree Realty's secured debt has grown at a 4.6% compound annual growth rate (CAGR), from $33.12M to $41.55M.
What does secured debt mean?
This represents debt obligations backed by specific real estate assets or collateral, providing lenders with a priority claim on those properties in the event of default. For REITs, secured debt is often used to finance specific property acquisitions or developments. High levels of secured debt can limit financial flexibility compared to unsecured financing.

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