---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-000816"
form_type: "8-K"
ticker: "ADC"
cik: "0000917251"
company_name: "AGREE REALTY CORP"
filed_at: "2024-01-03T23:59:59+00:00"
generated_at: "2026-06-07T05:00:59.533319+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Agree Realty reports $1.34B total investment activity in 2023; raises $236M forward equity

## Summary
- Total 2023 real estate investment activity (acquisitions, development, DFP) of $1.34B across 319 properties.
- Acquired 282 retail net lease properties for $1.19B at 6.9% weighted-average cap rate; 73.7% from investment grade tenants.
- Q4 acquisition volume $187.2M at 7.2% cap rate (80 bps higher than Q4 2022); 70.5% from investment grade.
- Entered forward sale agreements for 3.83M shares expecting ~$235.6M net proceeds; total liquidity >$1.0B.
- Portfolio: 2,135 properties; 69.1% annualized base rent from investment grade tenants; net debt to EBITDA 4.5x.

## SEC filing metadata
- accession: 0001104659-24-000816
- form_type: 8-K
- ticker: ADC
- cik: 0000917251
- company_name: AGREE REALTY CORP
- filed_at: 2024-01-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/917251/000110465924000816/0001104659-24-000816-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917251/000110465924000816/tm241622d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-000816
- JSON: https://secwatch.observer/filing/0001104659-24-000816.json
- Plain text: https://secwatch.observer/filing/0001104659-24-000816.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.