{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-021529","form_type":"8-K","ticker":"ADC","cik":"0000917251","company_name":"AGREE REALTY CORP","filed_at":"2023-02-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.564087+00:00","generated_at":"2026-06-19T15:08:33.538713+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Agree Realty reports record 2022 investment of $1.71B; Q4 AFFO per share up 3.9% YoY to $0.95","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-021529","json":"https://secwatch.observer/filing/0001104659-23-021529.json","markdown":"https://secwatch.observer/filing/0001104659-23-021529.md","text":"https://secwatch.observer/filing/0001104659-23-021529.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/917251/000110465923021529/0001104659-23-021529-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/917251/000110465923021529/tm236772d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-19T15:08:33.538713+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1fdb26c100adca0155dbde4efbd024c7dbf18853","claim":"AGREE REALTY CORP reported three months ended December 31, 2022 results: net income $39.1 million, EPS $0.44.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/917251/000110465923021529/0001104659-23-021529-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three months ended December 31, 2022"},{"label":"Net income","value":"$39.1 million"},{"label":"EPS","value":"$0.44"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"a30f505a46fd13ac8f3478c14c2b1d40482df4cb","claim":"AGREE REALTY CORP reported twelve months ended December 31, 2022 results: net income $145.0 million, EPS $1.83.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/917251/000110465923021529/0001104659-23-021529-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"twelve months ended December 31, 2022"},{"label":"Net income","value":"$145.0 million"},{"label":"EPS","value":"$1.83"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}