Agree Realty Corporation (ADC) vs Alexandria Real Estate Equities, Inc. (ARE)
A side-by-side comparison of Agree Realty Corporation and Alexandria Real Estate Equities, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of August 11, 2026. Differences are shown without an overall score or investment verdict.
Total return — ADC vs ARE
growth of $100 · dividends reinvested · last 10yADC vs ARE: by the numbers
- •ADC is the larger company ($8.81B vs $8.39B market cap).
- •ADC is profitable (28.87% net margin) while ARE runs a net loss (-30.57%).
- •ADC grew revenue faster over the past five years (21.41% vs 8.23% CAGR).
- •ARE pays the higher dividend yield (7.20% vs 4.25%).
Metrics side by side
Valuation
| Metric | ADC | ARE |
|---|---|---|
| P/E ratio | 39.86 | N/A |
| Forward P/E | 38.22 | 23.94 |
| P/S ratio | 11.46 | 3.08 |
| P/B ratio | 1.37 | 0.59 |
| EV / EBITDA | 19.53 | 298.17 |
| FCF yield | 5.98% | 9.62% |
For REITs like Agree Realty Corporation, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Alexandria Real Estate Equities, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | ADC | ARE |
|---|---|---|
| Gross margin | 87.73% | 69.46% |
| Operating margin | 48.35% | -45.72% |
| Net margin | 28.87% | -30.57% |
| ROE | 3.45% | -5.81% |
| ROIC | 3.61% | -4.85% |
Dividends
| Metric | ADC | ARE |
|---|---|---|
| Dividend yield | 4.25% | 7.20% |
| Payout ratio | 178.08% | N/A |
Agree Realty Corporation's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Alexandria Real Estate Equities, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | ADC | ARE |
|---|---|---|
| Revenue CAGR (5Y) | 21.41% | 8.23% |
| EPS CAGR (5Y) | 0.11% | N/A |
| FCF CAGR (5Y) | 22.56% | 9.89% |
| Total return CAGR (5Y) | 4.43% | -21.67% |
Frequently asked
- Which has grown faster, ADC or ARE?
- Over the past five years, ADC grew revenue faster — ADC at a 21.41% CAGR versus ARE at 8.23%.
- Does ADC or ARE pay a bigger dividend?
- ADC yields 4.25% and ARE yields 7.20% based on trailing dividends and the latest price.
- Is ADC or ARE more profitable?
- ADC runs the higher net margin — ADC at 28.87% versus ARE at -30.57%.
- How have ADC and ARE total returns compared?
- Over the past 10 years, ADC delivered 8.56% and ARE delivered -4.60% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Agree Realty & Alexandria Real Estate Equities appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified August 11, 2026.