---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-081890"
form_type: "8-K"
ticker: "ADC"
cik: "0000917251"
company_name: "AGREE REALTY CORP"
filed_at: "2024-07-23T23:59:59+00:00"
generated_at: "2026-05-31T18:23:36.082810+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Agree Realty Q2 AFFO per share $1.04 (+6.4% YoY); raises 2024 guidance and acquisition outlook

## Summary
- Net income per share up 25.6% to $0.52; Core FFO per share $1.03 (+5.7%); AFFO per share $1.04 (+6.4%).
- 2024 AFFO per share guidance raised to $4.11-$4.14 (midpoint +4.4%); acquisition guidance increased to ~$700M.
- Invested ~$203M in 70 retail net lease properties in Q2; first-half total ~$343M.
- Completed $450M bond offering (5.625% notes due 2034); received commitments to expand credit facility to $1.25B.
- Entered ATM forward sales for 3.2M shares (net proceeds ~$195M); proforma liquidity ~$1.7B; net debt/EBITDA 4.1x proforma.

## SEC filing metadata
- accession: 0001104659-24-081890
- form_type: 8-K
- ticker: ADC
- cik: 0000917251
- company_name: AGREE REALTY CORP
- filed_at: 2024-07-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/917251/000110465924081890/0001104659-24-081890-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917251/000110465924081890/tm2419955d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-081890
- JSON: https://secwatch.observer/filing/0001104659-24-081890.json
- Plain text: https://secwatch.observer/filing/0001104659-24-081890.txt

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