secwatch.observer — SEC 8-K summary
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Issuer:     AGREE REALTY CORP (ADC)
CIK:        0000917251
Form:       8-K
Filed at:   2024-10-22T23:59:59+00:00
Accession:  0001104659-24-110557
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Agree Realty Q3 2024 Core FFO $1.01, raises acquisition guidance to $850M, AFFO guidance to $4.12-$4.14
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- Net income per share $0.42 (+2.6% YoY); Core FFO $1.01 (+2.2%); AFFO $1.03 (+2.8%).
- Invested ~$237M in 93 retail net lease properties; raised 2024 acquisition target to ~$850M.
- Sold 6.6M shares via ATM forward for ~$469M; total liquidity now >$1.9B.
- Proforma net debt to recurring EBITDA 3.6x; portfolio 99.6% leased with 7.9yr WALT.
- Monthly dividend raised to $0.253/share (+2.4% YoY); AFFO payout ratio ~73%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/917251/000110465924110557/0001104659-24-110557-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/917251/000110465924110557/tm2426623d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-110557

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