secwatch.observer — SEC 8-K summary
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Issuer:     AGREE REALTY CORP (ADC)
CIK:        0000917251
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001104659-23-086389
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Agree Realty Q2 AFFO per share $0.98 (+1.1%); ups 2023 acquisition guidance to at least $1.3B
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- Net income $39.0M (+14.3% YoY); diluted EPS $0.42 (-7.2% YoY) on higher share count.
- Core FFO per share $0.98 (flat); AFFO per share $0.98 (+1.1% YoY).
- Full-year acquisition guidance raised to at least $1.3B (from $1.2B); Q2 invested ~$324M in 120 properties.
- Closed $350M unsecured 5.5-year term loan at 4.52% fixed rate; used to pay down revolver.
- Portfolio now 2,004 properties, 99.7% leased; proforma net debt/EBITDA 4.1x; liquidity ~$1.3B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/917251/000110465923086389/0001104659-23-086389-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/917251/000110465923086389/tm2322508d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-086389

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