ADC vs. SPG: A Head-to-Head Stock Comparison

Updated on August 22, 2025

Here’s a clear look at ADC and SPG, comparing key factors like historical performance, profitability, financial strength, growth, dividend, and valuation.

Company Profile

Both ADC and SPG are Real Estate Investment Trusts (REITs). These entities are required to distribute the majority of their taxable income to shareholders, often resulting in higher dividend yields.

Symbol	ADC	SPG
Company Name	Agree Realty Corporation	Simon Property Group, Inc.
Country	United States	United States
GICS Sector	Real Estate	Real Estate
GICS Industry	Retail REITs	Retail REITs
Market Capitalization	8.20 billion USD	65.68 billion USD
Exchange	NYSE	NYSE
Listing Date	April 15, 1994	December 14, 1993
Security Type	REIT	REIT

Historical Performance

This chart compares the performance of ADC and SPG by tracking the growth of an initial $10,000 investment in each. Use the tabs to select the desired time period. Data is adjusted for dividends and splits.

ADC vs. SPG: Growth of a $10,000 investment over the past one year.

Historical Performance at a Glance

Symbol	ADC	SPG
5-Day Price Return	1.67%	1.13%
13-Week Price Return	-1.92%	5.86%
26-Week Price Return	2.91%	-6.49%
52-Week Price Return	2.94%	8.91%
Month-to-Date Return	2.48%	6.31%
Year-to-Date Return	4.30%	1.11%
10-Day Avg. Volume	0.97M	1.42M
3-Month Avg. Volume	1.22M	1.57M
3-Month Volatility	16.88%	18.68%
Beta	0.56	1.55

Profitability

Return on Equity (TTM)

ADC

3.36%

Retail REITs Industry

Max: 15.84%
Q3: 10.01%
Median: 5.58%
Q1: 2.80%
Min: -2.65%

ADC’s Return on Equity of 3.36% is on par with the norm for the Retail REITs industry, indicating its profitability relative to shareholder equity is typical for the sector.

SPG

79.00%

Retail REITs Industry

Max: 15.84%
Q3: 10.01%
Median: 5.58%
Q1: 2.80%
Min: -2.65%

SPG’s Return on Equity of 79.00% is exceptionally high, placing it well beyond the typical range for the Retail REITs industry. This demonstrates a superior ability to generate profit from shareholder investments, though it could also be inflated by high financial leverage.

ADC vs. SPG: A comparison of their Return on Equity (TTM) against the Retail REITs industry benchmark.

Net Profit Margin (TTM)

ADC

28.16%

Retail REITs Industry

Max: 72.99%
Q3: 48.25%
Median: 27.21%
Q1: 13.68%
Min: -25.48%

In the Retail REITs industry, Net Profit Margin is often not the primary profitability metric.

SPG

35.06%

Retail REITs Industry

Max: 72.99%
Q3: 48.25%
Median: 27.21%
Q1: 13.68%
Min: -25.48%

In the Retail REITs industry, Net Profit Margin is often not the primary profitability metric.

ADC vs. SPG: A comparison of their Net Profit Margin (TTM) against the Retail REITs industry benchmark.

Operating Profit Margin (TTM)

ADC

47.06%

Retail REITs Industry

Max: 102.11%
Q3: 53.88%
Median: 35.05%
Q1: 20.90%
Min: -8.87%

In the Retail REITs industry, Operating Profit Margin is often not the primary measure of operational efficiency.

SPG

50.96%

Retail REITs Industry

Max: 102.11%
Q3: 53.88%
Median: 35.05%
Q1: 20.90%
Min: -8.87%

In the Retail REITs industry, Operating Profit Margin is often not the primary measure of operational efficiency.

ADC vs. SPG: A comparison of their Operating Profit Margin (TTM) against the Retail REITs industry benchmark.

Profitability at a Glance

Symbol	ADC	SPG
Return on Equity (TTM)	3.36%	79.00%
Return on Assets (TTM)	2.15%	6.44%
Net Profit Margin (TTM)	28.16%	35.06%
Operating Profit Margin (TTM)	47.06%	50.96%
Gross Profit Margin (TTM)	88.01%	82.17%

Financial Strength

Current Ratio (MRQ)

ADC

0.74

Retail REITs Industry

Max: 1.54
Q3: 0.87
Median: 0.60
Q1: 0.39
Min: 0.04

ADC’s Current Ratio of 0.74 aligns with the median group of the Retail REITs industry, indicating that its short-term liquidity is in line with its sector peers.

SPG

0.52

Retail REITs Industry

Max: 1.54
Q3: 0.87
Median: 0.60
Q1: 0.39
Min: 0.04

SPG’s Current Ratio of 0.52 aligns with the median group of the Retail REITs industry, indicating that its short-term liquidity is in line with its sector peers.

ADC vs. SPG: A comparison of their Current Ratio (MRQ) against the Retail REITs industry benchmark.

Debt-to-Equity Ratio (MRQ)

ADC

0.57

Retail REITs Industry

Max: 1.96
Q3: 1.36
Median: 0.93
Q1: 0.64
Min: 0.28

Falling into the lower quartile for the Retail REITs industry, ADC’s Debt-to-Equity Ratio of 0.57 points to a conservative financing strategy. This results in lower financial risk but potentially limits strategic investments compared to more leveraged competitors.

SPG

10.36

Retail REITs Industry

Max: 1.96
Q3: 1.36
Median: 0.93
Q1: 0.64
Min: 0.28

With a Debt-to-Equity Ratio of 10.36, SPG operates with exceptionally high leverage compared to the Retail REITs industry norm. This suggests an aggressive reliance on debt financing, which can magnify returns but also significantly elevates financial risk.

ADC vs. SPG: A comparison of their Debt-to-Equity Ratio (MRQ) against the Retail REITs industry benchmark.

Interest Coverage Ratio (TTM)

ADC

2.78

Retail REITs Industry

Max: 4.31
Q3: 3.35
Median: 2.33
Q1: 1.37
Min: 0.52

ADC’s Interest Coverage Ratio of 2.78 is positioned comfortably within the norm for the Retail REITs industry, indicating a standard and healthy capacity to cover its interest payments.

SPG

11.31

Retail REITs Industry

Max: 4.31
Q3: 3.35
Median: 2.33
Q1: 1.37
Min: 0.52

With an Interest Coverage Ratio of 11.31, SPG demonstrates a superior capacity to service its debt, placing it well above the typical range for the Retail REITs industry. This stems from either robust earnings or a conservative debt load.

ADC vs. SPG: A comparison of their Interest Coverage Ratio (TTM) against the Retail REITs industry benchmark.

Financial Strength at a Glance

Symbol	ADC	SPG
Current Ratio (MRQ)	0.74	0.52
Quick Ratio (MRQ)	0.72	0.52
Debt-to-Equity Ratio (MRQ)	0.57	10.36
Interest Coverage Ratio (TTM)	2.78	11.31

Growth

Revenue Growth

ADC vs. SPG: A side-by-side comparison of their Revenue Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

EPS Growth

ADC vs. SPG: A side-by-side comparison of their EPS Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

Dividend

Dividend Yield (TTM)

ADC

4.02%

Retail REITs Industry

Max: 6.40%
Q3: 4.96%
Median: 4.61%
Q1: 3.75%
Min: 2.91%

ADC’s Dividend Yield of 4.02% is consistent with its peers in the Retail REITs industry, providing a dividend return that is standard for its sector.

SPG

4.78%

Retail REITs Industry

Max: 6.40%
Q3: 4.96%
Median: 4.61%
Q1: 3.75%
Min: 2.91%

SPG’s Dividend Yield of 4.78% is consistent with its peers in the Retail REITs industry, providing a dividend return that is standard for its sector.

ADC vs. SPG: A comparison of their Dividend Yield (TTM) against the Retail REITs industry benchmark.

Dividend Payout Ratio (TTM)

ADC

176.09%

Retail REITs Industry

Max: 233.72%
Q3: 148.83%
Median: 90.03%
Q1: 67.83%
Min: 12.86%

ADC’s Dividend Payout Ratio of 176.09% is in the upper quartile for the Retail REITs industry. This indicates a strong commitment to shareholder returns but also suggests that a smaller portion of earnings is retained for reinvestment compared to many peers.

SPG

129.03%

Retail REITs Industry

Max: 233.72%
Q3: 148.83%
Median: 90.03%
Q1: 67.83%
Min: 12.86%

SPG’s Dividend Payout Ratio of 129.03% is within the typical range for the Retail REITs industry, suggesting a balanced approach between shareholder payouts and company reinvestment.

ADC vs. SPG: A comparison of their Dividend Payout Ratio (TTM) against the Retail REITs industry benchmark.

Dividend at a Glance

Symbol	ADC	SPG
Dividend Yield (TTM)	4.02%	4.78%
Dividend Payout Ratio (TTM)	176.09%	129.03%

Valuation

Price-to-Earnings Ratio (TTM)

ADC

43.76

Retail REITs Industry

Max: 69.12
Q3: 38.21
Median: 21.85
Q1: 15.96
Min: 6.82

The P/E Ratio is often not the primary metric for valuation in the Retail REITs industry.

SPG

26.99

Retail REITs Industry

Max: 69.12
Q3: 38.21
Median: 21.85
Q1: 15.96
Min: 6.82

The P/E Ratio is often not the primary metric for valuation in the Retail REITs industry.

ADC vs. SPG: A comparison of their Price-to-Earnings Ratio (TTM) against the Retail REITs industry benchmark.

Price-to-Sales Ratio (TTM)

ADC

12.33

Retail REITs Industry

Max: 13.84
Q3: 9.05
Median: 7.00
Q1: 5.56
Min: 2.93

ADC’s P/S Ratio of 12.33 is in the upper echelon for the Retail REITs industry. This means the company is valued richly on its revenue stream compared to its peers, suggesting the stock is priced for a high level of future performance.

SPG

9.46

Retail REITs Industry

Max: 13.84
Q3: 9.05
Median: 7.00
Q1: 5.56
Min: 2.93

SPG’s P/S Ratio of 9.46 is in the upper echelon for the Retail REITs industry. This means the company is valued richly on its revenue stream compared to its peers, suggesting the stock is priced for a high level of future performance.

ADC vs. SPG: A comparison of their Price-to-Sales Ratio (TTM) against the Retail REITs industry benchmark.

Price-to-Book Ratio (MRQ)

ADC

1.42

Retail REITs Industry

Max: 2.75
Q3: 1.73
Median: 1.08
Q1: 0.87
Min: 0.48

ADC’s P/B Ratio of 1.42 is within the conventional range for the Retail REITs industry. This shows a balanced market view, where the stock’s price is neither at a significant premium nor a discount to the book value of its peers.

SPG

21.41

Retail REITs Industry

Max: 2.75
Q3: 1.73
Median: 1.08
Q1: 0.87
Min: 0.48

At 21.41, SPG’s P/B Ratio is at an extreme premium to the Retail REITs industry. This signifies that the market’s valuation is heavily reliant on future potential rather than its current net asset value, which can be a high-risk proposition.

ADC vs. SPG: A comparison of their Price-to-Book Ratio (MRQ) against the Retail REITs industry benchmark.

Valuation at a Glance

Symbol	ADC	SPG
Price-to-Earnings Ratio (TTM)	43.76	26.99
Price-to-Sales Ratio (TTM)	12.33	9.46
Price-to-Book Ratio (MRQ)	1.42	21.41
Price-to-Free Cash Flow Ratio (TTM)	1,145.32	18.17