secwatch.observer — SEC 8-K summary
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Issuer:     AGREE REALTY CORP (ADC)
CIK:        0000917251
Form:       8-K
Filed at:   2026-02-10T23:59:59+00:00
Accession:  0000917251-26-000012
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/917251/000091725126000012/0000917251-26-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/917251/000091725126000012/adc-20260210.htm
  HTML page:      https://secwatch.observer/filing/0000917251-26-000012

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