BlackRock Portfolio Management LLC filed a Schedule 13G with the SEC on October 27, 2026, disclosing beneficial ownership of 6,730,051 shares of Agree Realty Corp common stock, representing 5.4% of the class, as of September 30, 2026.

Key Highlights

  • Aggregate beneficial ownership: BlackRock Portfolio Management LLC reported beneficial ownership of 6,730,051 shares of Agree Realty Corp common stock.
  • Percent of class: The 6,730,051 shares represent 5.4% of the outstanding common stock, according to the filing.
  • Sole voting power: The reporting person disclosed sole voting power over 4,611,833 shares, with shared voting power of 0.
  • Sole dispositive power: BlackRock Portfolio Management LLC reported sole dispositive power over all 6,730,051 shares, with shared dispositive power of 0.
  • Event date: The date of the event requiring this filing was September 30, 2026.
  • Ordinary course certification: The filing certifies the securities "were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer."

BlackRock Portfolio Management's Schedule 13G Filing for Agree Realty Corp

BlackRock Portfolio Management LLC, organized in Delaware and headquartered at 50 Hudson Yards, New York, NY 10001, filed a Schedule 13G disclosing a position in Agree Realty Corp (NYSE:ADC), whose principal executive offices are listed at 32301 Woodward Avenue, Royal Oak, Michigan, 48073. The filing was signed by Spencer Fleming, Managing Director, on October 27, 2026, and reflects holdings as of the event date of September 30, 2026.

According to the filing, BlackRock Portfolio Management LLC beneficially owns 6,730,051 shares of Agree Realty Corp common stock (CUSIP 008492100), equal to 5.4% of the class. The reporting person holds sole voting power over 4,611,833 of those shares and sole dispositive power over all 6,730,051 shares. Shared voting and shared dispositive power are each reported as 0.

The filing indicates it reflects securities beneficially owned by certain business units, described as the "Reporting Business Units," of BlackRock, Inc. and its subsidiaries and affiliates, in accordance with SEC Release No. 34-39538 (January 12, 1998). It explicitly states it "does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units." On the question of dividend or sale proceeds rights, the filing states that "various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of AGREE REALTY REIT," and that "no one person's interest in the common stock of AGREE REALTY REIT is more than five percent of the total outstanding common shares." The filing identifies the relevant subsidiary information in Exhibit 99.

What Was Disclosed

BlackRock Portfolio Management LLC disclosed beneficial ownership of 6,730,051 shares of Agree Realty Corp common stock, representing 5.4% of the class, with sole voting power over 4,611,833 shares and sole dispositive power over all 6,730,051 shares, as of September 30, 2026.