secwatch.observer — SEC 8-K summary
======================================

Issuer:     AGREE REALTY CORP (ADC)
CIK:        0000917251
Form:       8-K
Filed at:   2023-02-14T23:59:59+00:00
Accession:  0001104659-23-021529
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/917251/000110465923021529/0001104659-23-021529-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/917251/000110465923021529/tm236772d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-021529

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer