| Address:
|
31850 NORTHWESTERN HGWY
|
| City: |
FARMINGTON HILLS |
|
State: |
MI |
|
Zip Code: |
48334 |
| Telephone: |
810-737-4190 |
|
Description of Business
|
Primary SIC Code:
6798 |
| (As filed with the SEC)
|
|
|
Agree Realty Corporation, a Maryland corporation, is a fully-integrated,
self-administered and self-managed real estate investment trust ("REIT"). The
terms "Registrant", "Company", "we", "our" or "us" refer to Agree Realty
Corporation and/or its majority owned operating partnership, Agree Limited
Partnership ("Operating Partnership"), and/or its majority owned and controlled
subsidiaries, including its qualified taxable REIT subsidiaries ("TRS"), as the
context may require. Our assets are held by and all of our operations are
conducted through, directly or indirectly, the Operating Partnership, of which
we are the sole general partner and in which we held a 96.56% interest as of
December 31, 2010. 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 Partnership. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2011 | 0.29 | 0.400 | 75.10 | | 06/2011 | 0.90 | 0.400 | 24.81 | | 03/2011 | 0.93 | 0.400 | 24.14 | | 12/2010 | 1.64 | 0.510 | 15.97 | | 09/2010 | 2.56 | 0.510 | 9.86 | | 06/2010 | 2.16 | 0.510 | 10.80 | | 03/2010 | 2.80 | 0.510 | 8.16 | | 12/2009 | 2.14 | 0.510 | 10.88 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2010 |
Leverage |
2010 |
| Net Inc/Comm Equity | 0.08 | Total Liab/Total Assets | 0.42 | | Net Inc/Total Assets | 0.05 | Total Liab/Inv Cap | 0.42 | | Net Inc/Inv Cap | 0.05 | Total Liab/Comm Equity | 0.67 | | Pretax Inc/Net Sales | 0.25 | Interest Coverage Ratio | 2.94 | | Net Inc/Net Sales | 0.42 | Curr Debt/Equity | NA | | Cash Flow/Net Sales | 0.72 | LTD/Equity | 0.61 | | SG&A/NetSales | 0.14 | Total Debt/Equity | 0.61 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 21.77 | Quick Ratio | NA | | Inventory Turnover | NA | Current Ratio | NA | | Inventory Day Sales | NA | Net Rec/Curr Assets | NA | | Net Sales/Work Cap | NA | Inv/Curr Assets | NA | | Net Sales/PP&E | 0.13 | | |
Income Statement (Millions) |
| |
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Total Revenues(Net Sales)
|
15.15
|
9.61
|
10.25
|
9.57
|
|
Cost of Goods Sold
|
1.50
|
1.43
|
1.26
|
0.98
|
|
Selling & Admin Exps
|
1.09
|
1.52
|
1.44
|
1.40
|
|
Operating Income
|
-2.86
|
5.03
|
5.91
|
-2.03
|
|
Interest Exp
|
1.36
|
1.21
|
1.30
|
1.22
|
|
Pretax Income
|
-4.22
|
3.82
|
4.61
|
-3.25
|
|
Other Income
|
2.36
|
NA
|
NA
|
0.00
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
-1.79
|
3.69
|
4.54
|
-3.18
|
|
Assets
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Cash & Short Term Investments
|
0.89
|
0.85
|
NA
|
0.59
|
|
Receivables - Total
|
2.67
|
2.67
|
NA
|
1.33
|
|
Inventories - Total
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Assets
|
NA
|
NA
|
NA
|
NA
|
|
Net Property, Plant & Equipment
|
262.30
|
266.63
|
NA
|
278.63
|
|
Total Assets
|
282.02
|
281.36
|
NA
|
285.04
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
6.18
|
5.99
|
5.67
|
6.79
|
|
Debt in Current Liabilities
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Liabilities
|
NA
|
NA
|
NA
|
NA
|
|
Long-Term Debt
|
109.85
|
96.91
|
96.58
|
100.70
|
|
Total Liabilities
|
122.10
|
116.05
|
115.37
|
120.80
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
2.70
|
2.90
|
2.92
|
2.89
|
|
Preferred Stock
|
0.00
|
0.00
|
0.00
|
0.00
|
|
Common Stock
|
0.00
|
0.00
|
0.00
|
0.00
|
|
Retained Earnings
|
-20.09
|
-14.36
|
-14.11
|
-14.70
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
159.93
|
165.32
|
165.31
|
164.24
|
|
Total Liabilities and Stockholders' Equity
|
282.02
|
281.36
|
280.68
|
285.04
|
Cash Flow Summary (Millions) |
|
Categories
|
9/30/2011
|
6/30/2011
|
3/31/2011
|
12/31/2010
|
|
Net Cash Provided by Operating Activities
|
5.27
|
5.25
|
6.05
|
7.81
|
|
Net Cash Provided by Investing Activities
|
-16.42
|
-1.34
|
3.60
|
-21.44
|
|
Net Cash Provided by Financing Activities
|
11.18
|
-3.87
|
-9.44
|
13.89
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2006 | 32.91 | 13.97 | 1.83 | | 12/2007 | 34.47 | 15.48 | 2.01 | | 12/2008 | 35.65 | 15.02 | 1.95 | | 12/2009 | 34.40 | 17.04 | 2.14 | | 12/2010 | 36.11 | 15.07 | 1.64 | | Growth Rates | 2.35 | 1.90 | -2.70 |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/11 | 99 | 5,820 | 51.75 |
|
Report Date :
2/6/2012
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