Equity Profile

ADC

Agree Realty Corporation

Real EstateRetail REITs$9.1B

Oct29Wed

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

Agree Realty Corporation (ADC) is a real estate investment trust (REIT) that focuses on acquiring and managing retail properties. With a market cap of $9 billion, ADC plays a significant role in the retail sector, which is currently navigating challenges and opportunities related to consumer spending and e-commerce growth.

Key Metrics to Watch

EPS

Earnings per share (EPS) is crucial as it reflects the company's profitability and is a key indicator for investors.

N/A

Revenue

Revenue figures will provide insight into how well ADC is performing in the retail space, especially amidst changing consumer behaviors.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ADC Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

-7.04%

Avg Stock Reaction

-0.12%

Last Quarter Recap

In Q1-2026, ADC reported an EPS of $1.04, falling short of the expected $1.09, resulting in a slight stock decline the following day. This continues a trend of missing earnings expectations, which may raise concerns among investors.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as ADC has struggled to meet earnings estimates in recent quarters. Investors are keen to see if the company can turn this trend around.

Bull Case

If ADC can demonstrate improved occupancy rates and better-than-expected EPS, it may signal a recovery in the retail sector, boosting investor confidence.

Bear Case

Conversely, continued misses on earnings and revenue could indicate deeper issues within the company or the retail market, leading to further stock declines.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the occupancy rate be this quarter?

A strong occupancy rate is vital for revenue generation and can indicate the health of the retail properties in ADC's portfolio.

Will ADC provide any guidance on future earnings?

Management's outlook on future earnings can significantly influence investor sentiment and stock performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for ADC to stabilize its occupancy rates and improve earnings, given recent trends in consumer spending.

Supporting Evidence

Insider buying activity suggests confidence in the company's future performance.

Options pricing indicates a significant expected move, which may not align with the cautious sentiment in the market.

Key Risk

If occupancy rates show a marked improvement, it could challenge the current bearish outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether ADC can recover from its recent earnings misses and demonstrate growth.

Bull Confirmed If

A reported EPS of $1.10 or higher would confirm the bull case.

Bear Confirmed If

An EPS below $1.00 would reinforce the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±3.54%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant move, suggesting that investors are anticipating volatility around the earnings report.

Options are pricing ±3.5% while ADC has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

14.2%

Calls (2K)P/C Ratio: 0.76Puts (3K)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$11,050.74

146 sh

1 insider

Sold

$0.00

0 sh

0 insiders

Net

$11,050.74

Net buying

Most Active Insiders· 1 open-market trade

Insider

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ADC beats expectations, history suggests the stock could rise by about 0.93%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may see muted movement as investors reassess.

Miss

A miss could lead to a decline of around 0.12%, indicating ongoing struggles and potentially prompting further investor concern.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$15,001.00–$50,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on occupancy rates and tenant demand.
2Management's commentary on future earnings guidance.
3Insights into how ADC is adapting to changes in the retail landscape.
4Details on any new acquisitions or property developments.
5Responses to investor concerns regarding recent earnings misses.

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Company Snapshot

Key Metrics to Watch

EPS

Earnings per share (EPS) is crucial as it reflects the company's profitability and is a key indicator for investors.

N/A

Revenue

Revenue figures will provide insight into how well ADC is performing in the retail space, especially amidst changing consumer behaviors.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

ADC Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

-7.04%

Avg Stock Reaction

-0.12%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as ADC has struggled to meet earnings estimates in recent quarters. Investors are keen to see if the company can turn this trend around.

Bull Case

If ADC can demonstrate improved occupancy rates and better-than-expected EPS, it may signal a recovery in the retail sector, boosting investor confidence.

Bear Case

Conversely, continued misses on earnings and revenue could indicate deeper issues within the company or the retail market, leading to further stock declines.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the occupancy rate be this quarter?

A strong occupancy rate is vital for revenue generation and can indicate the health of the retail properties in ADC's portfolio.

Will ADC provide any guidance on future earnings?

Management's outlook on future earnings can significantly influence investor sentiment and stock performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for ADC to stabilize its occupancy rates and improve earnings, given recent trends in consumer spending.

Supporting Evidence

Insider buying activity suggests confidence in the company's future performance.

Options pricing indicates a significant expected move, which may not align with the cautious sentiment in the market.

Key Risk

If occupancy rates show a marked improvement, it could challenge the current bearish outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether ADC can recover from its recent earnings misses and demonstrate growth.

Bull Confirmed If

A reported EPS of $1.10 or higher would confirm the bull case.

Bear Confirmed If

An EPS below $1.00 would reinforce the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±3.54%

Historical Avg

±0.8%

Pricing rich

The options market is pricing in a significant move, suggesting that investors are anticipating volatility around the earnings report.

Options are pricing ±3.5% while ADC has averaged ±0.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.2%

30d HV

14.2%

Calls (2K)P/C Ratio: 0.76Puts (3K)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$11,050.74

146 sh

1 insider

Sold

$0.00

0 sh

0 insiders

Net

$11,050.74

Net buying

Most Active Insiders· 1 open-market trade

Insider

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If ADC beats expectations, history suggests the stock could rise by about 0.93%, confirming a positive turnaround narrative.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may see muted movement as investors reassess.

Miss

A miss could lead to a decline of around 0.12%, indicating ongoing struggles and potentially prompting further investor concern.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

0 buys·1 sell

Members

House only

Est. Notional

$15,001.00–$50,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on occupancy rates and tenant demand.
2Management's commentary on future earnings guidance.
3Insights into how ADC is adapting to changes in the retail landscape.
4Details on any new acquisitions or property developments.
5Responses to investor concerns regarding recent earnings misses.