secwatch.observer — SEC 8-K summary
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Issuer:     AGREE REALTY CORP (ADC)
CIK:        0000917251
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0001104659-24-050574
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Agree Realty Q1 AFFO per share up 4.6% to $1.03; guides FY2024 AFFO $4.10-$4.13
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- AFFO per share Q1: $1.03, up 4.6% YoY; Core FFO per share $1.01, up 3.5%.
- Acquired $123.5M in Q1 at 7.7% cap rate; FY2024 acquisition guidance ~$600M.
- Introduced 2024 AFFO per share guidance of $4.10-$4.13, up ~4% from 2023.
- Monthly dividend raised to $0.25/share (annualized $3.00), a 2.9% increase.
- Portfolio 99.6% leased; over $920M liquidity; proforma net debt/EBITDA 4.3x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/917251/000110465924050574/0001104659-24-050574-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/917251/000110465924050574/tm2412472d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-050574

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer