---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-011470"
form_type: "8-K"
ticker: "ADC"
cik: "0000917251"
company_name: "AGREE REALTY CORP"
filed_at: "2025-02-11T23:59:59+00:00"
generated_at: "2026-05-26T23:41:44.496087+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Agree Realty Q4 AFFO per share $1.04, up 4.7% YoY; issues 2025 AFFO guidance of $4.26-$4.30

## Summary
- Q4 AFFO per share $1.04 (+4.7% YoY); Core FFO $1.02 (+3.5%); Net income $0.41 (-5.7%).
- FY 2024 AFFO per share $4.14 (+4.6% YoY); Core FFO $4.08 (+3.7%); Net income $1.78 (+4.8%).
- Invested $951M in 282 properties in 2024 at 7.5% cap rate; portfolio 99.6% leased; 68.2% investment grade.
- 2025 AFFO per share guidance $4.26-$4.30 (~3.5% midpoint growth); investment volume target $1.1-$1.3B.
- Raised $1.1B in forward equity in 2024; $450M bond at 5.65% due 2034; proforma net debt/EBITDA 3.3x.

## SEC filing metadata
- accession: 0001104659-25-011470
- form_type: 8-K
- ticker: ADC
- cik: 0000917251
- company_name: AGREE REALTY CORP
- filed_at: 2025-02-11T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/917251/000110465925011470/0001104659-25-011470-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917251/000110465925011470/tm256143d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-011470
- JSON: https://secwatch.observer/filing/0001104659-25-011470.json
- Plain text: https://secwatch.observer/filing/0001104659-25-011470.txt

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