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Agree RealtyADC +1.03%89 Earnings Yield (Joel Greenblatt) % is 2.79% as of Mar. 2026, which is 1% below its 10-year median of 2.82. GuruFocus rates ADC with a GF Score™ of 89/100 and a GF Value™ of $78.38 (Fairly Valued). The stock has 11 warning signs investors should review. Among 968 REITs companies, Agree Realty ranks worse than 58.16% on this metric.
Agree Realty's Enterprise Value for the quarter that ended in Mar. 2026 was $12,958.5 Mil.
Agree Realty's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was $361.3 Mil. Agree Realty's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2026 was 2.79%.
The historical rank and industry rank for Agree Realty's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
ADC'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.33 Med: 2.82 Max: 4.44
Current: 2.66
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Agree Realty was 4.44%. The lowest was 2.33%. And the median was 2.82%.
ADC's Earnings Yield (Joel Greenblatt) % is ranked worse than 58.16% of 968
companies
in the REITs industry
Industry Median: 3.425
vs ADC: 2.66
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Agree Realty's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2026 was 11.58%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Agree Realty Earnings Yield (Joel Greenblatt) % Related Terms
Agree Realty Earnings Yield (Joel Greenblatt) % Historical Data
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The historical data trend for Agree Realty's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Retail subindustry, Agree Realty's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Agree Realty Earnings Yield (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Agree Realty's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Agree Realty's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Agree Realtys Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Agree Realty's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $361.3 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 2.79% mean?
Agree Realty (ADC) has a Earnings Yield (Joel Greenblatt) % of 2.79% as of Mar. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Agree Realty and its competitors. This is near median its historical median of 2.82. Over the past decade, Agree Realty's Earnings Yield (Joel Greenblatt) % has ranged from 2.33 to 4.44. According to the industry distribution chart, Agree Realty ranks #563 out of 968 companies in the REITs industry, placing it in the top 58.2%.
Is Agree Realty's Earnings Yield (Joel Greenblatt) % too high?
Agree Realty's current Earnings Yield (Joel Greenblatt) % of 2.79% is near median its 10-year median of 2.82. Over the past 10 years, this metric has ranged from a low of 2.33 to a high of 4.44. The REITs industry median Earnings Yield (Joel Greenblatt) % is 3.43. Agree Realty's value of 2.79% is 18.5% below this industry median. Based on the distribution chart, Agree Realty ranks #563 out of 968 companies in the REITs industry, which is below the industry midpoint. Overall, Agree Realty has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Agree Realty's Earnings Yield (Joel Greenblatt) % compare to BRX and NNN?
According to the REITs industry distribution chart, Agree Realty ranks #563 out of 968 companies for Earnings Yield (Joel Greenblatt) %. This places Agree Realty in the lower half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 3.43. Agree Realty's value of 2.79% is 18.5% below this benchmark. Historically, Agree Realty's own Earnings Yield (Joel Greenblatt) % has ranged from 2.33 to 4.44 over the past decade. While the company's 10-year median is 2.82 vs. the industry median of 3.43, Agree Realty has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for a REITs company?
The median Earnings Yield (Joel Greenblatt) % among REITs companies is 3.43, based on 968 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Agree Realty's current Earnings Yield (Joel Greenblatt) % of 2.79% is 18.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Agree Realty and its competitors. For the REITs industry, the median Earnings Yield (Joel Greenblatt) % is 3.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Agree Realty's current Earnings Yield (Joel Greenblatt) % is 2.79%, which is near median its own 10-year median of 2.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Agree Realty stock overvalued right now?
Based on GuruFocus' analysis, Agree Realty (ADC) is currently considered Fairly Valued. The stock's GF Value™ is $78.38, compared to a current price of $80.63 — trading 2.9% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 2.79%, which is near median its 10-year median of 2.82 and 18.5% below the REITs industry median of 3.43. Agree Realty's overall GF Score™ is 89/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For Agree Realty (ADC), the current Earnings Yield (Joel Greenblatt) % is 2.79% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Agree Realty (ADC) Overvalued in 2026?
Based on GuruFocus' analysis, Agree Realty stock appears to be overvalued.
The current stock price of $80.63 is trading 2.9% above its estimated GF Value™ of $78.38.
GuruFocus considers Agree Realty to be Fairly Valued.
Key valuation signals for ADC:
Earnings Yield (Joel Greenblatt) %: 2.79% (near median its 10-year median of 2.82)
GF Value™: $78.38 vs. price of $80.63 (2.9% above fair value)
Industry Position: 18.5% below the REITs median (#563 of 968)
No single metric tells the full story. See the ADC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Agree Realty Corporation operates as a fully integrated real estate investment trust mainly focused on the ownership, acquisition, development and management of retail properties net leased to industry-tenants. The Company is mainly in the business of acquiring, developing and managing retail real estate. Some of its properties in the portfolio include Walmart, 7-Eleven, Wawa, Gerber Collision and others.
89GF Score
Get the complete analysis for ADC
Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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