secwatch.observer — SEC 8-K summary
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Issuer:     AGREE REALTY CORP (ADC)
CIK:        0000917251
Form:       8-K
Filed at:   2025-07-31T23:59:59+00:00
Accession:  0001104659-25-072681
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Agree Realty Q2 AFFO per share up 1.7% to $1.06, raises 2025 guidance
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/917251/000110465925072681/0001104659-25-072681-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/917251/000110465925072681/tm2522179d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-072681

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