<SEC-DOCUMENT>0001284812-25-000227.txt : 20250606
<SEC-HEADER>0001284812-25-000227.hdr.sgml : 20250606
<ACCEPTANCE-DATETIME>20250606082804
ACCESSION NUMBER:		0001284812-25-000227
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250606
DATE AS OF CHANGE:		20250606

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AGREE REALTY CORP
		CENTRAL INDEX KEY:			0000917251
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				383148187
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-79518
		FILM NUMBER:		251028957

	BUSINESS ADDRESS:	
		STREET 1:		32301 WOODWARD AVENUE
		CITY:			ROYAL OAK
		STATE:			MI
		ZIP:			48073
		BUSINESS PHONE:		248-737-4190

	MAIL ADDRESS:	
		STREET 1:		32301 WOODWARD AVENUE
		CITY:			ROYAL OAK
		STATE:			MI
		ZIP:			48073

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COHEN & STEERS, INC.
		CENTRAL INDEX KEY:			0001284812
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		EIN:				141904657
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		1166 AVENUE OF THE AMERICAS
		STREET 2:		30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		212 832 3232

	MAIL ADDRESS:	
		STREET 1:		1166 AVENUE OF THE AMERICAS
		STREET 2:		30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COHEN & STEERS INC
		DATE OF NAME CHANGE:	20040324
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType>SCHEDULE 13G/A</submissionType>
<filerInfo>
<filer>
<filerCredentials>
<cik>0001284812</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>



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</headerData>
<formData>
<coverPageHeader>
<amendmentNo>2</amendmentNo>
<securitiesClassTitle>Common Stock</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>05/31/2025</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0000917251</issuerCik>
<issuerName>Agree Realty Corp</issuerName>
<issuerCusip>008492100</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>32301 Woodward Avenue</com:street1>
<com:city>Royal Oak</com:city>
<com:stateOrCountry>X1</com:stateOrCountry>
<com:zipCode>48073</com:zipCode>
</issuerPrincipalExecutiveOfficeAddress>
</issuerInfo>
<designateRulesPursuantThisScheduleFiled>
<designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
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<reportingPersonName>COHEN &amp; STEERS, INC.</reportingPersonName>
<memberGroup>b</memberGroup>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>9286012</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>12512001</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12512001</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>11.37</classPercent>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<typeOfReportingPerson>HC</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Cohen &amp; Steers Capital Management, Inc.</reportingPersonName>
<memberGroup>b</memberGroup>
<citizenshipOrOrganization>NY</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>9153565</soleVotingPower>
<soleDispositivePower>12317274</soleDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12317274</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>11.2</classPercent>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<typeOfReportingPerson>IA</typeOfReportingPerson>
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<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Cohen &amp; Steers UK Ltd</reportingPersonName>
<memberGroup>b</memberGroup>
<citizenshipOrOrganization>X0</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>119528</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>181808</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>181808</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0.17</classPercent>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<typeOfReportingPerson>IA</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Cohen &amp; Steers Asia LTD</reportingPersonName>
<memberGroup>b</memberGroup>
<citizenshipOrOrganization>K3</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<typeOfReportingPerson>IA</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Cohen &amp; Steers Ireland Limited</reportingPersonName>
<memberGroup>b</memberGroup>
<citizenshipOrOrganization>L2</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>12919</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>12919</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>12919</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0.01</classPercent>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<typeOfReportingPerson>FI</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<items>
<item1>
<issuerName>Agree Realty Corp</issuerName>
<issuerPrincipalExecutiveOfficeAddress>32301 Woodward Avenue, Royal Oak, United States, 48073</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>Cohen &amp; Steers, Inc.&#13;
Cohen &amp; Steers Capital Management, Inc.     &#13;
Cohen &amp; Steers UK Ltd &#13;
Cohen &amp; Steers Asia Ltd&#13;
Cohen &amp; Steers Ireland Ltd</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>The principal address for Cohen &amp; Steers, Inc.&#13;
and Cohen &amp; Steers Capital Management, Inc. is:&#13;
1166 Avenue of the Americas, 30th Floor&#13;
New York, NY 10036&#13;
&#13;
The principal address for Cohen &amp; Steers UK Ltd. is:&#13;
The Burlian, 2nd floor, &#13;
3 Dering Street, London W1S 1AA&#13;
United Kingdom &#13;
&#13;
The principal address for Cohen &amp; Steers Asia Ltd. is:&#13;
1201-02 Champion Tower&#13;
Three Garden Road&#13;
Central, Hong Kong&#13;
&#13;
The principal address for Cohen &amp; Steers Ireland Ltd. is:&#13;
Suite G01&#13;
81 Merrion Square South&#13;
Dublin 2&#13;
D02 NR12&#13;
Ireland</principalBusinessOfficeOrResidenceAddress>
<citizenship>Cohen &amp; Steers, Inc: Delaware corporation&#13;
Cohen &amp; Steers Capital Management, Inc: New York corporation&#13;
Cohen &amp; Steers UK Ltd: United Kingdom Private Limited Company&#13;
Cohen &amp; Steers Asia Ltd: Asia Private Limited Company&#13;
Cohen &amp; Steers Ireland Ltd: Ireland Private Limited Company</citizenship>
</item2>
<item3>
<notApplicableFlag>N</notApplicableFlag>
<typeOfPersonFiling>FI</typeOfPersonFiling>
<typeOfPersonFiling>IA</typeOfPersonFiling>
<typeOfPersonFiling>HC</typeOfPersonFiling>
<otherTypeOfPersonFiling>Corporation</otherTypeOfPersonFiling>
</item3>
<item4>
<amountBeneficiallyOwned>See row 9 on Cohen &amp; Steers, Inc.</amountBeneficiallyOwned>
<classPercent>See row 11 on Cohen &amp; Steers, Inc.</classPercent>
<numberOfSharesPersonHas>
<solePowerOrDirectToVote>See row 5 on Cohen &amp; Steers, Inc.</solePowerOrDirectToVote>
<sharedPowerOrDirectToVote>See row 6 on Cohen &amp; Steers, Inc.</sharedPowerOrDirectToVote>
<solePowerOrDirectToDispose>See row 7 on Cohen &amp; Steers, Inc.</solePowerOrDirectToDispose>
<sharedPowerOrDirectToDispose>See row 8 on Cohen &amp; Steers, Inc.</sharedPowerOrDirectToDispose>
</numberOfSharesPersonHas>
</item4>
<item5>
<notApplicableFlag>Y</notApplicableFlag>
</item5>
<item6>
<notApplicableFlag>N</notApplicableFlag>
<ownershipMoreThan5PercentOnBehalfOfAnotherPerson>Each of Cohen &amp; Steers Capital Management, Inc., Cohen &amp; Steers UK Ltd., Cohen &amp; Steers Asia Ltd. and Cohen &amp; Steers Ireland Ltd. holds the securities of the Issuer to which this statement relates for the benefit of their respective account holders.  Such account holders have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the securities of the Issuer that are held on their behalf.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
</item6>
<item7>
<notApplicableFlag>N</notApplicableFlag>
<subsidiaryIdentificationAndClassification>Cohen &amp; Steers, Inc. holds a 100% interest in Cohen &amp; Steers Capital Management, Inc., Cohen &amp; Steers UK Ltd., Cohen &amp; Steers Asia Ltd. (investment advisors registered under Section 203 of the Investment Advisers Act) and Cohen &amp; Steers Ireland Ltd. (a non-US institution).</subsidiaryIdentificationAndClassification>
</item7>
<item8>
<notApplicableFlag>Y</notApplicableFlag>
</item8>
<item9>
<notApplicableFlag>Y</notApplicableFlag>
</item9>
<item10>
<notApplicableFlag>N</notApplicableFlag>
<certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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 of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.&#13;
&#13;
By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Corporation is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.</certifications>
</item10>
</items>
<signatureInformation>
<reportingPersonName>COHEN &amp; STEERS, INC.</reportingPersonName>
<signatureDetails>
<signature>/s/ Francis Poli</signature>
<title>Frank Poli / General Counsel and Global CCO</title>
<date>06/06/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Cohen &amp; Steers Capital Management, Inc.</reportingPersonName>
<signatureDetails>
<signature>/s/ Francis Poli</signature>
<title>Frank Poli / General Counsel and Global CCO</title>
<date>06/06/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Cohen &amp; Steers UK Ltd</reportingPersonName>
<signatureDetails>
<signature>/s/ Natalie Okorie</signature>
<title>Natalie Okorie / VP, Compliance Officer</title>
<date>06/06/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Cohen &amp; Steers Asia LTD</reportingPersonName>
<signatureDetails>
<signature>/s/ Catherine Cheng</signature>
<title>Catherine Cheng / VP, Compliance Officerteers Asia LTD</title>
<date>06/06/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Cohen &amp; Steers Ireland Limited</reportingPersonName>
<signatureDetails>
<signature>/s/ Alan Cooper</signature>
<title>Alan Cooper / VP, Compliance Officer</title>
<date>06/06/2025</date>
</signatureDetails>
</signatureInformation>
</formData>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
