Agree Realty reports record 2022 investment of $1.71B; Q4 AFFO per share up 3.9% YoY to $0.95

AGREE REALTY CORP

2022-FY EPS reported $1.83 revenue$429,814,000

Full-year 2022 Core FFO per share $3.87 (+8.1% YoY); AFFO per share $3.83 (+9.2% YoY).
Q4 net income $39.1M ($0.44 per share); Core FFO $0.96 (+3.5% YoY); AFFO $0.95 (+3.9% YoY).
Record investment volume $1.71B across 465 retail net lease properties in 2022.
Proforma net debt to recurring EBITDA 3.1x; total liquidity $1.5B incl. $557M forward equity.
Monthly dividend raised 5.7% to $0.240 per share; annualized $2.880.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AGREE REALTY CORP reported three months ended December 31, 2022 results: net income $39.1 million, EPS $0.44.

Period: three months ended December 31, 2022
Net income: $39.1 million
EPS: $0.44
Result: reported results

Exact text from the filing

Net Income for the three months ended December 31, 2022 increased 24.8% to $39.1 million, compared to $31.3 million for the comparable period in 2021. Net Income per share for the three months ended December 31, 2022 of $0.44 was unchanged compared to the same period in 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AGREE REALTY CORP reported twelve months ended December 31, 2022 results: net income $145.0 million, EPS $1.83.

Period: twelve months ended December 31, 2022
Net income: $145.0 million
EPS: $1.83
Result: reported results

Exact text from the filing

Net Income for the twelve months ended December 31, 2022 increased 20.7% to $145.0 million, compared to $120.1 million for the comparable period in 2021. Net Income per share for the twelve months ended December 31, 2022 increased 2.4% to $1.83, compared to $1.78 per share for the comparable period in 2021.

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AGREE REALTY CORP filing history →

Source: SEC EDGAR

accession 0001104659-23-021529

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