WallStSmart

Agree Realty Corporation (ADC)vsWheeler Real Estate Investment Trust Inc (WHLR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Agree Realty Corporation generates 605% more annual revenue ($718.40M vs $101.84M). WHLR leads profitability with a 46.3% profit margin vs 28.4%. WHLR trades at a lower P/E of 0.1x. ADC earns a higher WallStSmart Score of 68/100 (B-).

ADC

Strong Buy

68

out of 100

Grade: B-

Growth: 7.3Profit: 7.0Value: 7.3Quality: 3.8
Piotroski: 2/9Altman Z: 1.25

WHLR

Buy

51

out of 100

Grade: C-

Growth: 4.0Profit: 9.0Value: 8.3Quality: 5.0
Piotroski: 4/9Altman Z: -0.13
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ADCSignificantly Overvalued (-48.5%)

Margin of Safety

-48.5%

Fair Value

$51.68

Current Price

$74.22

$22.54 premium

UndervaluedFair: $51.68Overvalued
WHLRUndervalued (+99.0%)

Margin of Safety

+99.0%

Fair Value

$208.62

Current Price

$1.14

$207.48 discount

UndervaluedFair: $208.62Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ADC5 strengths · Avg: 9.4/10
PEG RatioValuation
0.1310/10

Growing faster than its price suggests

Price/BookValuation
1.5x10/10

Reasonable price relative to book value

Operating MarginProfitability
48.3%10/10

Strong operational efficiency at 48.3%

Profit MarginProfitability
28.4%9/10

Keeps 28 of every $100 in revenue as profit

Revenue GrowthGrowth
18.5%8/10

18.5% revenue growth

WHLR4 strengths · Avg: 10.0/10
P/E RatioValuation
0.1x10/10

Attractively priced relative to earnings

Return on EquityProfitability
57.8%10/10

Every $100 of equity generates 58 in profit

Profit MarginProfitability
46.3%10/10

Keeps 46 of every $100 in revenue as profit

Operating MarginProfitability
33.5%10/10

Strong operational efficiency at 33.5%

Areas to Watch

ADC4 concerns · Avg: 2.5/10
Return on EquityProfitability
3.5%3/10

ROE of 3.5% — below average capital efficiency

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

P/E RatioValuation
42.5x2/10

Premium valuation, high expectations priced in

Free Cash FlowQuality
$-1.47B2/10

Negative free cash flow — burning cash

WHLR4 concerns · Avg: 2.8/10
EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Market CapQuality
$2.68M3/10

Smaller company, higher risk/reward

Revenue GrowthGrowth
-3.9%2/10

Revenue declined 3.9%

Free Cash FlowQuality
$-2.19M2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : ADC

The strongest argument for ADC centers on PEG Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 28.4% and operating margin at 48.3%. Revenue growth of 18.5% demonstrates continued momentum.

Bull Case : WHLR

The strongest argument for WHLR centers on P/E Ratio, Return on Equity, Profit Margin. Profitability is solid with margins at 46.3% and operating margin at 33.5%.

Bear Case : ADC

The primary concerns for ADC are Return on Equity, Piotroski F-Score, P/E Ratio. A P/E of 42.5x leaves little room for execution misses.

Bear Case : WHLR

The primary concerns for WHLR are EPS Growth, Market Cap, Revenue Growth. Debt-to-equity of 8.01 is elevated, increasing financial risk.

Key Dynamics to Monitor

ADC profiles as a growth stock while WHLR is a declining play — different risk/reward profiles.

WHLR carries more volatility with a beta of 1.28 — expect wider price swings.

ADC is growing revenue faster at 18.5% — sustainability is the question.

WHLR generates stronger free cash flow (-2M), providing more financial flexibility.

Bottom Line

ADC scores higher overall (68/100 vs 51/100), backed by strong 28.4% margins and 18.5% revenue growth. WHLR offers better value entry with a 99.0% margin of safety. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Agree Realty Corporation

REAL ESTATE · REIT - RETAIL · USA

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of net leased properties to industry leading retail tenants.

Wheeler Real Estate Investment Trust Inc

REAL ESTATE · REIT - RETAIL · USA

Wheeler Real Estate Investment Trust Inc. (WHLR) is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, management, and enhancement of a diversified portfolio of retail and mixed-use properties throughout the United States. By employing a value-oriented acquisition strategy focused on well-located assets with strong cash flow potential, WHLR aims to generate robust income and maximize capital appreciation. The company's emphasis on strategic asset management and tenant satisfaction ensures resilience in a dynamic market, fostering sustainable growth and delivering value to shareholders in the evolving retail real estate landscape.

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