BlackRock Unit Reports 5.4% Stake In Agree Realty, Or 6.73 Million Shares
BlackRock Portfolio Management holds sole voting power over 4,611,833 of the shares, its passive ownership filing shows.
BlackRock Portfolio Management LLC, a business unit of BlackRock, holds 5.4% of Agree Realty's common stock, or 6,730,051 shares, according to a passive ownership filing (a Schedule 13G) made Tuesday. The filing carries a September 30 event date.
Voting and dispositive power
BlackRock Portfolio Management has sole voting power over 4,611,833 of the shares and no shared voting power. It has sole dispositive power, meaning authority over selling, across all 6,730,051 shares.
The 5.4% is a cover-page percent of the class. The filing says the stake reflects holdings of certain BlackRock business units, not those of other units whose holdings are reported separately.
The filer certified that the shares were bought and are held in the ordinary course of business, not to change or influence control of Agree Realty. The filing also says various persons have the right to receive dividends or sale proceeds from the stock, and that no one person's interest exceeds 5% of the outstanding common shares.
An exhibit lists the BlackRock subsidiaries whose holdings feed into the report, including BlackRock Fund Advisors and BlackRock Investment Management, LLC.
A net lease landlord
Agree Realty, based in Royal Oak, Michigan, is a real estate investment trust that owns, buys, develops and manages retail properties leased to retailers on a net lease basis, where the tenant pays property taxes, insurance and maintenance on top of rent.
As of December 31, 2025, its portfolio held 2,674 properties in all 50 states, with about 55.5 million square feet of leasable space that was about 99.7% leased. About 66.8% of annualized base rent came from investment-grade tenants or their parents, and no tenant accounted for more than 10.0%.
The stock on Tuesday
Agree Realty shares traded at $67.01 in Tuesday trading, down 0.56% from the prior close, for a market value of $8.8 billion.
The filing puts BlackRock Portfolio Management's stake at 6,730,051 shares as of September 30, with voting control over 4,611,833 of them.
Sources
- SCHEDULE 13G — BlackRock Portfolio Management LLC re: AGREE REALTY CORP (ADC) — SEC EDGAR
- SCHEDULE 13G Exhibit 99 — SEC EDGAR
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