Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
The forward PE ratio is 38.16.
Forward PE Ratio (38.16) = Close Price ($73.16) / Consensus Forward EPS ($1.90)
FORWARD PE RATIO
38.16
SECTOR MEDIAN · REAL ESTATE
31.88
median of 37 covered companies
CURRENT VS SECTOR MEDIAN
+19.70%
vs the sector median at left
Agree Realty Corporation
Market Cap
$8.79B
Forward PE Ratio
38.16
| NAME | MARKET CAP | FORWARD PE RATIO |
|---|---|---|
| Agree Realty Corporation (ADC) | $8.79B | 38.16 |
| Alexandria Real Estate Equities, Inc. (ARE)vs › | $8.88B | 34.73 |
| CubeSmart (CUBE)vs › | $8.97B | 25.63 |
| NNN REIT, Inc. (NNN)vs › | $8.49B | 21.73 |
| First Industrial Realty Trust, Inc. (FR)vs › | $8.17B | 24.71 |
| Federal Realty Investment Trust (FRT)vs › | $10.13B | 27.48 |
| Terreno Realty Corporation (TRNO)vs › | $7.01B | 31.11 |
| Camden Property Trust (CPT)vs › | $10.59B | 98.24 |
| BXP, Inc. (BXP)vs › | $10.60B | 31.88 |
| UDR, Inc. (UDR)vs › | $11.60B | 33.85 |
Trailing P/E
39.0
reported TTM EPS
Forward P/E
38.2
consensus next-FY EPS
The gap between the two multiples is the consensus growth expectation: analysts' forward EPS of $1.90 implies +2.2% EPS growth vs the reported trailing $1.86.
At today's $73.16 close, each upcoming fiscal year's consensus EPS implies a different multiple — how quickly the price is "paid down" by expected earnings if the estimates hold.
| Fiscal year end | Consensus EPS | Estimate range | Analysts | Implied P/E |
|---|---|---|---|---|
| 2026-12-31 | $1.90 | $1.89 – $1.91 | 3 | 38.4x |
| 2027-12-31 | $1.96 | $1.94 – $1.99 | 5 | 37.3x |
| 2028-12-31 | $2.03 | $1.68 – $2.30 | 3 | 36.0x |
Source: FMP analyst consensus estimates, refreshed with the daily precompute. "n/m" = the consensus EPS is not positive, so a multiple is undefined. There is no forward P/E history chart here because charting one would require the estimates as they stood in the past, which we do not store — see the trailing P/E history for how the realized multiple has moved.
PE Ratio = Share Price / Diluted EPS (TTM)
The price-to-earnings ratio measures how much investors pay for each dollar of trailing earnings. A lower PE can indicate a cheaper valuation; a higher PE implies higher growth expectations.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
