Agree Realty Corp (ADC-PA) Below-Market Lease Liabilities (2016 - 2026)
Agree Realty (ADC-PA) reported Below-Market Lease Liabilities of $73.94 million for Q3 2026, up 30.2% from $56.78 million a year earlier and up 4.8% from the prior quarter.
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Analysis
Agree Realty Corp (ADC-PA) Below-Market Lease Liabilities (2016 - 2026) Analysis & Trends
At the end of FY2025, Agree Realty posted Below-Market Lease Liabilities of $60.19 million, up 30.1% from FY2024.
- Below-Market Lease Liabilities has increased for four consecutive years, with a five-year compound annual growth rate of 11.0% (FY2020 to FY2025).
- By year, Below-Market Lease Liabilities came in at $46.25 million in FY2024 (+25.6%), $36.83 million in FY2023 (+0.3%), $36.71 million in FY2022 (+11.0%) and $33.08 million in FY2021 (-7.4%).
- The Q3 2026 figure ranks as the highest quarterly Below-Market Lease Liabilities in data going back to Q4 2016.
- Year over year, Below-Market Lease Liabilities has now increased in each of the last nine quarters, with growth averaging 30.9% over the last eight quarters.
- The high point for year-over-year Below-Market Lease Liabilities in five years was Q2 2026 (growth of 42.0%); the low point was Q4 2021 (a decline of 7.4%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $70.54 million (Q2 2026), $61.77 million (Q1 2026) and $60.19 million (Q4 2025).
Peer Set
Peer Comparison
Historic Data
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Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 73.94 Mn |
| Jun 30, 2026 | 70.54 Mn |
| Mar 31, 2026 | 61.77 Mn |
| Dec 31, 2025 | 60.19 Mn |
| Sep 30, 2025 | 56.78 Mn |
| Jun 30, 2025 | 49.67 Mn |
| Mar 31, 2025 | 47.35 Mn |
| Dec 31, 2024 | 46.25 Mn |
| Sep 30, 2024 | 45.20 Mn |
| Jun 30, 2024 | 36.98 Mn |
| Mar 31, 2024 | 36.76 Mn |
| Dec 31, 2023 | 36.83 Mn |
| Sep 30, 2023 | 37.46 Mn |
| Jun 30, 2023 | 38.27 Mn |
| Mar 31, 2023 | 36.33 Mn |
| Dec 31, 2022 | 36.71 Mn |
| Sep 30, 2022 | 37.12 Mn |
| Jun 30, 2022 | 36.34 Mn |
| Mar 31, 2022 | 33.71 Mn |
| Dec 31, 2021 | 33.08 Mn |
API Access
Agree Realty Corp Below-Market Lease Liabilities API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=below-market-lease-liabilities&ticker=ADC-PA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "below-market-lease-liabilities", "ticker": "ADC-PA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=below-market-lease-liabilities&ticker=ADC-PA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();