Agree Realty Corporation

Exactly.

Look at Agree Realty's third quarter results.

They're a massive institutional player.

They bought 94 retail net lease properties for about $358 million.

So if you buy a million dollar building at a 7.3% cap rate, you're expecting $73,000 a year in net income.

Exactly right.

And Agree Realty's management, on their earnings call, actually warned investors to assume cap rates will go another 25 basis points higher in the fourth quarter.

Wow.

Several winners describe what the clauses do in practice.

Agree Realty told IMT that its green lease language gives it a clearer route to request and receive utility information, which in turn supports more practical conversations with tenants about energy use and benchmarking.

Two commercial landlord winners went further.

writing in terms that pass penalties under building performance standards, BPS, through to tenants, with a method for calculating each tenant's share.

Good catch.

Quite a small raise from Agree Realty, but probably best and probably expected in the current interest rate environment.

Nice.

So this week we're going to talk about how we dollar cost average.

And no, I don't want that.

yeah so just happy to leave it sit there and and

wait it's hard to your point because you know i've trained myself for 12 years to deploy it each and every month yeah so germans would say that i'm having an unheimlich with this and i feel that but i'm just telling myself like for instance i sold some exxon mobil right so i have quite some dollars um available from that I would love to buy some Agree Realty, but not at this price yet.

So this is more what I mean with, okay, I think I can still wait one, two months, and otherwise I'll make sure I'll have it spent by December.

That's the way it feels like to me, watching all the freaking REITs just going down and down and down and down and down and down.

And the businesses to me look fundamentally strong, at least the ones I'm in, which are ADC, Agree Realty, and Vicki Properties, which if you do anything reading, I love AI.

God bless it.

It'll get better.

I can just sell them and get my $25 back.

Yeah, and that's something I've never bought a preferred.

I know there's a few listeners of this channel that like agrees, agree realty, ticker ADC, like their preferreds.

But again, it's something I don't know much about.

Everyone's situation is different, so please speak with a financial professional before making any investment decisions.

This week I asked my newsletter readers one simple question, and it was, should I dump my REITs? It got more replies than anything I've ever written, which tells me one thing.

I'm not the only one thinking, is it time to evict the REITs from my portfolio? What's up? I'm Russ.

It's nice to see ya.

And we're gonna look at what's the situation with my REITs and what do I plan to do with them going forward.

As of this recording, I'm 48 years young and I own two REITs in my IRA.

Agree Realty, ticker ADC.

Think of it as the buildings and land under your Walmart building.

Welcome back to the REIT Report, where we break down real estate investment trusts, one company at a time, in a simple, clean, and realistic way.

Today we're looking at Agree Realty, ticker symbol ADC.

Agree Realty is a retail net lease REIT, which means it owns properties leased to tenants under long-term agreements.

often with the tenant responsible for many property-level expenses like taxes, insurance, and maintenance.

This is a business model that can create relatively stable rental income, especially when the tenant base is strong and the leases are structured well.

has quietly built a strong reputation of its own, especially among dividend investors who like monthly income.

Conservative management and exposure to everyday retail real estate, too.

Agree Realty owns thousands of properties across all 50 states with a portfolio focused on retail tenants.