Agree Realty Q4 AFFO per share $1.00 (+5.2% YoY); 2023 investments total $1.34B

AGREE REALTY CORP

2023-FY EPS reported $1.70 revenue$537,495,000

Q4 Net Income per share $0.44 (unchanged YoY); Core FFO per share $0.99 (+3.4%); AFFO per share $1.00 (+5.2%).
Full-year 2023: Net Income per share $1.70 (-7.0% YoY); Core FFO per share $3.93 (+1.6%); AFFO per share $3.95 (+3.1%).
Invested $199M in 70 properties in Q4; full-year $1.34B in 319 properties at 6.9% avg cap rate.
Portfolio 99.8% leased; 69.1% ABR from investment grade tenants; proforma net debt/EBITDA 4.3x.
Declared monthly dividend $0.247/sh ($2.964 annualized, +2.9% YoY); payout ratio ~75% of Core FFO.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AGREE REALTY CORP reported financial results for the fourth quarter and full year ended December 31, 2023.

Period: the fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

Agree Realty Corporation (the “Company”) issued a press release describing its results of operations for the fourth quarter and full year ended December 31, 2023

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AGREE REALTY CORP filing history →

Source: SEC EDGAR

accession 0001104659-24-019867

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