secwatch.observer — SEC 8-K summary
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Issuer:     AGREE REALTY CORP (ADC)
CIK:        0000917251
Form:       8-K
Filed at:   2022-11-01T23:59:59+00:00
Accession:  0001104659-22-113466
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Agree Realty Q3 AFFO per share up 7.8% to $0.96; raises 2022 acquisition guidance to $1.6B
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- Net income per share fell 11.1% to $0.46, but Core FFO per share rose 5.6% to $0.97 and AFFO per share rose 7.8% to $0.96.
- Acquired 98 properties for $360M in Q3; raised lower end of full-year acquisition guidance to $1.6B (from $1.5B).
- Declared increased monthly dividend of $0.240 per share for Oct 2022, a 5.7% YoY increase; payout ratio ~73% of AFFO.
- Completed $300M bond offering at effective 3.76% all-in rate; raised over $800M in equity/debt during quarter.
- Portfolio 99.7% leased, 67.5% of rents from investment-grade tenants; proforma net debt/EBITDA 3.1x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/917251/000110465922113466/0001104659-22-113466-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/917251/000110465922113466/tm2229334d1-8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-113466

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