---
schema_version: "secwatch.filing_event.v1"
accession: "0000917251-26-000012"
form_type: "8-K"
ticker: "ADC"
cik: "0000917251"
company_name: "AGREE REALTY CORP"
filed_at: "2026-02-10T23:59:59+00:00"
generated_at: "2026-05-16T03:46:41.163258+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Agree Realty Q4 AFFO $1.11 (+6.5%); FY25 AFFO $4.33; guides 2026 AFFO $4.54-$4.58, boosts investment guidance

## Summary
- Q4 2025 AFFO per share $1.11 (+6.5% YoY); Core FFO per share $1.10 (+7.3%). Net income $54.2M (+24.9%).
- FY2025 AFFO per share $4.33 (+4.6%); invested $1.55B in 338 properties at 7.2% cap rate.
- Initial 2026 AFFO guidance $4.54-$4.58; investment volume increased to $1.4B-$1.6B.
- Achieved A- issuer rating from Fitch; closed $400M 5.60% notes due 2035 at 5.35% all-in.
- Proforma net debt to recurring EBITDA 3.8x; $2.0B liquidity including $716M unsettled forward equity.

## SEC filing metadata
- accession: 0000917251-26-000012
- form_type: 8-K
- ticker: ADC
- cik: 0000917251
- company_name: AGREE REALTY CORP
- filed_at: 2026-02-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/917251/000091725126000012/0000917251-26-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917251/000091725126000012/adc-20260210.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000917251-26-000012
- JSON: https://secwatch.observer/filing/0000917251-26-000012.json
- Plain text: https://secwatch.observer/filing/0000917251-26-000012.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.