Agree Realty appoints Kirk Klatt as VP of Leasing

ROYAL OAK, Mich. - Agree Realty Corporation (NYSE:ADC), a retail REIT with a market capitalization of $8 billion and an impressive track record of maintaining dividend payments for 32 consecutive years, announced Monday the appointment of Kirk Klatt as Vice President of Leasing. In this role, Klatt will lead the company’s leasing operations and manage key retailer relationships.

Klatt brings over 20 years of experience in real estate leasing, acquisition, and operations to the position. He previously served as Senior Vice President of Real Estate at NETSTREIT Corp. (NYSE:NTST), where he worked for approximately 14 years managing transaction, leasing, diligence, development, and asset management functions. He was also one of three members on NETSTREIT’s Investment Committee.

"I’m extremely pleased to welcome Kirk to our Team," said Joey Agree, President and Chief Executive Officer of Agree Realty, according to the company’s press release.

Agree Realty Corporation is a real estate investment trust that focuses on acquiring and developing properties net leased to retail tenants. As of June 30, 2025, the company owned and operated 2,513 properties across all 50 states, comprising approximately 52.0 million square feet of gross leasable area.

The company’s common stock is listed on the New York Stock Exchange under the symbol ADC. The stock offers a dividend yield of 4.2% and has raised its dividend for 12 consecutive years. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.

In other recent news, Agree Realty Corporation released its second-quarter 2025 financial results, which showed a slight miss on earnings per share (EPS) but a slight beat on revenue. The company’s EPS was reported at $0.43, falling short of the anticipated $0.45, while revenue reached $175.53 million, surpassing the forecasted $173.17 million. Despite the modest EPS miss, the company adjusted its 2025 guidance, raising the midpoint for Adjusted Funds From Operations (AFFO) by $0.02 and its acquisition midpoint by $100 million.

Following these developments, UBS raised its price target for Agree Realty to $82, maintaining a Buy rating, citing an improved outlook. Similarly, Jefferies also increased its price target to $90, following discussions on the company’s growth strategy and competitive dynamics during a post-earnings webinar. Both firms continue to hold a Buy rating for the company, reflecting positive sentiment from analysts. These recent developments highlight ongoing confidence in Agree Realty’s strategic direction and financial performance.

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