{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-111089","form_type":"8-K","ticker":"ADC","cik":"0000917251","company_name":"AGREE REALTY CORP","filed_at":"2023-10-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.394965+00:00","generated_at":"2026-06-09T15:55:07.615582+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 Q3 AFFO per share up 4.2% to $1.00; acquisition guidance raised to $1.3B","bullets":["Net income per share $0.41, down 12.4% YoY; Core FFO per share $0.99, up 2.1%; AFFO per share $1.00, up 4.2%.","Acquired 74 properties for ~$398M at 6.9% cap rate; full-year acquisition guidance raised to ~$1.3B.","Closed $350M 5.5-year term loan at 4.52% fixed rate; raised $87M via ATM forward sales and settled $290M forward equity.","Record investment grade exposure of 68.9% of annualized base rents; portfolio 99.7% leased with 8.6-year WALT.","Monthly dividend increased 2.9% YoY to $0.247 per share; net debt to EBITDA of 4.5x."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-111089","json":"https://secwatch.observer/filing/0001104659-23-111089.json","markdown":"https://secwatch.observer/filing/0001104659-23-111089.md","text":"https://secwatch.observer/filing/0001104659-23-111089.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/917251/000110465923111089/0001104659-23-111089-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/917251/000110465923111089/tm2328932d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T15:55:07.615582+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":"57672a4d47b72fe5cb0fa058c3d1b6a1c3f760ca","claim":"AGREE REALTY CORP reported the quarter ended September 30, 2023 results: net income $39.7 million, EPS $0.41.","evidence_excerpt":"Net Income for the three months ended September 30, 2023 increased 5.6% to $39.7 million, compared to $37.6 million for the comparable period in 2022. Net Income per share for the three months ended September 30 th decreased 12.4% to $0.41, compared to $0.46 per share for the comparable period in 2022.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/917251/000110465923111089/0001104659-23-111089-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended September 30, 2023"},{"label":"Net income","value":"$39.7 million"},{"label":"EPS","value":"$0.41"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"6e57e502397015bc8d7b74d59c209e1c96f8beda","claim":"AGREE REALTY CORP reported the nine months ended September 30, 2023 results: net income $118.4 million, EPS $1.26.","evidence_excerpt":"Net Income for the nine months ended September 30, 2023 increased 11.8% to $118.4 million, compared to $105.9 million for the comparable period in 2022. Net Income per share for the nine months ended September 30 th decreased 9.4% to $1.26, compared to $1.39 per share for the comparable period in 2022.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/917251/000110465923111089/0001104659-23-111089-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the nine months ended September 30, 2023"},{"label":"Net income","value":"$118.4 million"},{"label":"EPS","value":"$1.26"},{"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"}