{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-019867","form_type":"8-K","ticker":"ADC","cik":"0000917251","company_name":"AGREE REALTY CORP","filed_at":"2024-02-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:27.281167+00:00","generated_at":"2026-06-06T04:01:48.245955+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Agree Realty Q4 AFFO per share $1.00 (+5.2% YoY); 2023 investments total $1.34B","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-019867","json":"https://secwatch.observer/filing/0001104659-24-019867.json","markdown":"https://secwatch.observer/filing/0001104659-24-019867.md","text":"https://secwatch.observer/filing/0001104659-24-019867.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/917251/000110465924019867/0001104659-24-019867-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/917251/000110465924019867/tm246063d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T04:01:48.245955+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":"33a26d208db7cd4ede35221a8f1d9089caa34eb4","claim":"AGREE REALTY CORP reported financial results for the fourth quarter and full year ended December 31, 2023.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/917251/000110465924019867/0001104659-24-019867-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter and full year ended December 31, 2023"},{"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"}