Agree Realty Bundle
Who Owns Agree Realty Corporation?
Understanding Agree Realty Corporation's ownership is key to grasping its market influence. Founded in 1971 and headquartered in Royal Oak, Michigan, this REIT focuses on net-leased retail properties.
As of July 2025, Agree Realty has a market cap of approximately $8.19 billion, with a vast portfolio of 2,422 properties across all 50 states.
Who owns Agree Realty Corporation?
The ownership of Agree Realty Corporation, like many publicly traded real estate investment trusts, is distributed among various entities. Following its initial public offering in 1994, ownership expanded beyond its founders to include a significant presence of institutional investors, such as mutual funds and exchange-traded funds (ETFs), alongside individual shareholders. These institutional holders often possess substantial stakes, influencing the company's strategic decisions and governance. A detailed Agree Realty Porter's Five Forces Analysis can offer further insights into the competitive landscape affecting the company.
Who Founded Agree Realty?
Agree Realty Corporation was established in 1971, with its founding family's influence likely remaining significant throughout its history. While precise initial ownership details are not publicly disclosed, the company’s continued association with the ‘Agree’ name suggests a strong foundational presence.
| Key Figure | Role |
|---|---|
| Joel Agree | President and Chief Executive Officer |
| Richard Agree | Executive Chairman of the Board |
Founding Year
The company began its operations in 1971. This marks the origin of Agree Realty ownership.
Generational Leadership
Joel Agree currently leads the company as President and CEO. This indicates a continuation of leadership within the founding family.
Board Leadership
Richard Agree serves as the Executive Chairman of the Board. His role highlights ongoing family involvement at a high level.
Business Focus
The company specializes in net-leased retail properties. This strategy aims for stable and predictable revenue streams.
Initial Public Offering
An IPO occurred on April 15, 1994. This event introduced public shareholders, impacting original ownership structures.
Founding Vision
The company's strategy reflects a foundational vision for resilient assets. This approach has guided its property acquisition and development.
The company's strategic focus on acquiring, developing, and managing net-leased retail properties, particularly those considered essential and recession-proof, reflects a foundational vision for stable and predictable cash flow. Understanding the Mission, Vision & Core Values of Agree Realty provides further context to their long-term strategy and ownership philosophy.
Early Ownership Dynamics
While specific details on the initial equity split among founders are not publicly available, the continued leadership and presence of individuals named Agree suggest a significant founding family stake. The company's IPO in 1994 marked a transition, introducing public investors and altering the ownership landscape.
- Founded in 1971.
- Joel Agree is President and CEO.
- Richard Agree is Executive Chairman.
- IPO occurred on April 15, 1994.
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How Has Agree Realty’s Ownership Changed Over Time?
Agree Realty Corporation's ownership structure has evolved significantly since its initial public offering on April 15, 1994. As a publicly traded real estate investment trust (REIT) on the New York Stock Exchange under the ticker symbol 'ADC', its ownership is primarily held by institutional investors.
| Institutional Investor | Percentage of Ownership (as of March 31, 2025) |
| Vanguard Group Inc. | 13.56% |
| Blackrock Inc. | 11.81% |
| Cohen & Steers Inc. | 8.97% |
| State Street Corporation | 4.89% |
| Principal Financial Group, Inc. | 2.43% |
| Deutsche Bank Aktiengesellschaft | 2.30% |
| Geode Capital Management, LLC | 2.28% |
| CenterSquare Investment Management LLC | 2.21% |
| Daiwa Securities Group Inc. | 2.14% |
| JPMORGAN CHASE & CO | 2.13% |
The substantial holdings by these institutional investors highlight the company's position within the net-lease retail real estate sector. Agree Realty's total assets reached approximately $8.8 billion by the end of March 2025, with a market capitalization around $7.96 billion. The company's active acquisition strategy, which saw approximately $951 million invested in 2024 across 282 properties and an increased guidance of $1.3 billion to $1.5 billion for 2025, often involves equity issuances that can influence ownership percentages over time. This approach, detailed in their Marketing Strategy of Agree Realty, focuses on acquiring numerous individual properties to build a diversified portfolio.
Key Ownership Insights
Understanding who owns Agree Realty is crucial for investors. The majority of Agree Realty stock is held by large investment funds.
- Vanguard Group Inc. is the largest institutional investor.
- Institutional investors collectively own a significant portion of Agree Realty.
- The company's market capitalization was approximately $7.96 billion in early 2025.
- Agree Realty's investment volume in 2024 was around $951 million.
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Who Sits on Agree Realty’s Board?
The Board of Directors for Agree Realty Corporation is instrumental in guiding the company's strategic direction and ensuring shareholder interests are represented. As of July 2025, key figures include Richard Agree, serving as Executive Chairman of the Board, and Joel Agree, who holds the positions of President and Chief Executive Officer. Joel Agree's direct ownership stake amounts to 0.57% of the company's shares.
| Director Name | Position | Key Role |
|---|---|---|
| Richard Agree | Executive Chairman of the Board | Strategic Oversight |
| Joel Agree | President and Chief Executive Officer | Operational Leadership |
| Karen Dearing | Director | Independent Oversight |
| Linglong He | Director | Independent Oversight (Appointed Jan 1, 2024) |
| Michael Hollman | Director | Independent Oversight |
The voting power within Agree Realty Corporation is structured such that each share of common stock typically grants its holder one vote on matters brought before stockholders. For the 2025 Annual Meeting, shareholders of record as of March 7, 2025, were eligible to cast their votes. The company's charter does not include preemptive rights for shareholders concerning new securities, meaning existing owners do not automatically get the first chance to buy new shares to maintain their ownership percentage, unless the Board decides otherwise. A significant proposal from the Board is the recommendation to increase the authorized common stock shares from 180 million to 360 million, a move that could influence the future distribution of voting power among shareholders. Understanding the Target Market of Agree Realty can provide context for how these ownership structures might evolve.
Understanding Shareholder Influence
Shareholder voting power is directly tied to the number of shares owned. The proposed increase in authorized shares could dilute existing ownership percentages if new shares are issued without proportional increases in individual holdings.
- Each common share equals one vote.
- Stockholders of record on March 7, 2025, could vote at the 2025 Annual Meeting.
- No preemptive rights are granted by the charter.
- A proposal to double authorized shares is under consideration.
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What Recent Changes Have Shaped Agree Realty’s Ownership Landscape?
Recent activity in Agree Realty Corporation's investment and capital markets strategies has significantly shaped its ownership profile. The company's substantial investment volume and active capital raising efforts, including forward equity offerings and commercial paper programs, indicate a dynamic financial landscape that influences who owns Agree Realty.
| Activity | Period | Details |
|---|---|---|
| Investment Volume | Q1 2025 | Over $375 million across 69 properties |
| Total Investment Volume | 2024 | Approximately $951 million in 282 properties |
| 2025 Investment Guidance | Raised | $1.3 billion to $1.5 billion |
| Public Offering | April 2025 | 4.5 million shares at $75.70 per share |
| Forward Equity Raised | Q1 2025 | $181 million via ATM program |
| Commercial Paper Program | Q1 2025 | Established $625 million unsecured program |
| Share Buybacks | Q1 2025 | $3.645 million worth of shares repurchased |
The ownership structure of Agree Realty Corporation is increasingly characterized by a strong presence of institutional investors, aligning with broader industry trends in Real Estate Investment Trusts (REITs). Major financial institutions such as Vanguard, BlackRock, and Cohen & Steers hold significant stakes, reflecting confidence in the company's strategy and performance. This institutional backing is often driven by Agree Realty's focus on investment-grade retail tenants, which comprised 68.3% of its annualized base rents as of the first quarter of 2025. This tenant profile is designed to generate stable and predictable cash flows, a key attraction for investors seeking reliable returns. The company's leadership, with Joel Agree serving as CEO since 2013, also includes direct ownership, indicating alignment between management and shareholders. Understanding these dynamics is crucial for anyone looking into Agree Realty ownership and its overall market position.
Institutional Investor Influence
Major firms like Vanguard and BlackRock are key holders, underscoring the appeal of Agree Realty's stable income streams to large investment entities.
Tenant Quality Focus
A significant portion of rental income comes from investment-grade tenants, a strategy that enhances predictability and attractiveness to investors.
Capital Markets Activity
The company actively uses capital markets through offerings and programs, influencing its share structure and overall ownership distribution.
Management Ownership Stake
The CEO's direct ownership in the company signals a commitment to shareholder value and aligns management interests with those of other Agree Realty investors.
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- What is Brief History of Agree Realty Company?
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- What are Mission Vision & Core Values of Agree Realty Company?
- What is Customer Demographics and Target Market of Agree Realty Company?
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