---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-072681"
form_type: "8-K"
ticker: "ADC"
cik: "0000917251"
company_name: "AGREE REALTY CORP"
filed_at: "2025-07-31T23:59:59+00:00"
generated_at: "2026-05-17T22:40:30.464316+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 up 1.7% to $1.06, raises 2025 guidance

## Summary
- Q2 net income $0.43/sh (down 18.5% YoY); Core FFO $1.05 (+1.3%); AFFO $1.06 (+1.7%).
- Raised 2025 AFFO guidance to $4.29-$4.32 (prior $4.27-$4.30) and investment target to $1.4-$1.6B.
- Completed $400M bond offering at 5.60% (all-in 5.35%) and 5.2M share forward equity raise for ~$387M.
- Portfolio 99.6% leased, 67.8% from IG tenants; $350M invested in Q2 across 110 properties.

## SEC filing metadata
- accession: 0001104659-25-072681
- form_type: 8-K
- ticker: ADC
- cik: 0000917251
- company_name: AGREE REALTY CORP
- filed_at: 2025-07-31T23:59:59+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/917251/000110465925072681/0001104659-25-072681-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917251/000110465925072681/tm2522179d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-072681
- JSON: https://secwatch.observer/filing/0001104659-25-072681.json
- Plain text: https://secwatch.observer/filing/0001104659-25-072681.txt

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