Company Information

  

Address: 70 E. LONG LAKE ROAD  
City: BLOOMFIELD HILLS 
State: MI 
Zip Code: 48034 
Telephone: 810-737-4190 

Description of Business

Primary SIC Code: 6798
(As filed with the SEC)  

The Company is a fully integrated REIT primarily focused on the ownership, acquisition, development and management of retail properties net leased to industry leading tenants. The Company was founded in 1971 by its current Executive Chairman, Richard Agree, and its common stock was listed on the New York Stock Exchange ("NYSE") in 1994. The Company's assets are held by, and all of its operations are conducted through, directly or indirectly, Operating Partnership of which the Company is the sole general partner and in which it held a 98.8% interest as of December 31, 2017. Under the partnership agreement of the Operating Partnership, we, as the sole general partner, have exclusive responsibility and discretion in the management and control of the Operating Agreement. As of December 31, 2017, our portfolio consisted of 436 properties located in 43 states and totaling approximately 8.7 million square feet of gross leasable area ("GLA").  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
03/20182.060.52023.32
12/20172.080.52024.73
09/20172.030.50524.18
06/20172.240.50520.48
03/20172.170.49522.10
12/20161.970.49523.38
09/20161.860.48026.58
06/20162.070.48023.30

Key Financial Ratios and Statistics

FYE: 12/31

Profitability 2017 Leverage 2017
Net Inc/Comm Equity0.06Total Liab/Total Assets0.39
Net Inc/Total Assets0.04Total Liab/Inv Cap0.39
Net Inc/Inv Cap0.04Total Liab/Comm Equity0.63
Pretax Inc/Net Sales0.50Interest Coverage Ratio4.24
Net Inc/Net Sales0.50Curr Debt/EquityNA
Cash Flow/Net Sales0.71LTD/Equity0.57
SG&A/NetSales0.09Total Debt/Equity0.57
Asset Utilization   Liquidity  
Net Receivables Turnover8.63Quick RatioNA
Inventory TurnoverNACurrent RatioNA
Inventory Day SalesNANet Rec/Curr AssetsNA
Net Sales/Work CapNAInv/Curr AssetsNA
Net Sales/PP&E0.10  

Income Statement (Millions)

  3/31/2018 12/31/2017 9/30/2017 6/30/2017
Total Revenues(Net Sales) 34.57 31.53 30.39 28.08
Cost of Goods Sold 4.06 3.35 3.24 3.11
Selling & Admin Exps 2.86 2.28 2.49 2.69
Operating Income 17.65 17.10 16.43 14.58
Interest Exp 5.47 4.92 4.67 4.41
Pretax Income 16.69 16.67 12.28 14.95
Other Income 4.50 4.50 0.52 4.78
Net Income Bef Extraordinary ... NA NA NA NA
Net Income 16.45 16.49 12.17 14.88

Balance Sheet (Millions)

Assets 3/31/2018 12/31/2017 9/30/2017 6/30/2017
Cash & Short Term Investments 11.10 58.78 27.29 4.17
Receivables - Total 17.95 15.48 15.63 14.24
Inventories - Total NA NA NA NA
Total Current Assets NA NA NA NA
Net Property, Plant & Equipment 1,271.57 1,214.02 1,121.03 1,081.35
Total Assets 1,527.25 1,494.63 1,366.97 1,286.84
Liabilities        
Accounts Payable 28.66 30.53 25.07 22.84
Debt in Current Liabilities NA NA NA NA
Total Current Liabilities NA NA NA NA
Long-Term Debt 555.91 519.81 486.16 435.20
Total Liabilities 616.94 585.97 546.67 493.46
Stockholder's Equity        
Minority Interest 2.55 2.53 2.52 2.57
Preferred Stock 0.00 0.00 0.00 0.00
Common Stock 0.00 0.00 0.00 0.00
Retained Earnings -28.45 -28.76 -29.14 -26.55
Treasury Stock NA NA NA NA
Total Stockholders' Equity 910.31 908.66 820.30 793.38
Total Liabilities and Stockholders' Equity 1,527.25 1,494.63 1,366.97 1,286.84

Cash Flow Summary (Millions)

Categories 3/31/2018 12/31/2017 9/30/2017 6/30/2017
Net Cash Provided by Operating Activities 17.81 27.02 20.52 19.10
Net Cash Provided by Investing Activities -84.20 -85.79 -64.33 -130.13
Net Cash Provided by Financing Activities 18.71 84.07 65.14 112.91

Annual Summary Data (Millions)

Year Sales Net Income EPS
12/201343.5219.671.40
12/201453.5618.491.23
12/201569.9739.022.16
12/201691.5345.121.97
12/2017116.5658.112.08
Growth Rates27.9331.1010.40

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional06/30/1823931,070--




Report Date : 7/16/2018

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