---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-101229"
form_type: "8-K"
ticker: "ADC"
cik: "0000917251"
company_name: "AGREE REALTY CORP"
filed_at: "2025-10-21T23:59:59+00:00"
generated_at: "2026-05-17T03:10:21.468002+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Agree Realty Q3 AFFO $1.10, +7.2% YoY; raises 2025 guidance, dividend up 3.6%

## Summary
- Net income per share $0.45 (+7.9% YoY); Core FFO $1.09 (+8.4%); AFFO $1.10 (+7.2%).
- 2025 AFFO per share guidance raised to $4.31-$4.33; investment guidance raised to $1.50B-$1.65B.
- Invested $451M in 110 properties in Q3; portfolio 99.7% leased, 2,603 properties, 53.7M sq ft.
- Monthly dividend increased to $0.262 for Oct (+3.6% YoY); annualized $3.144; payout ratio ~70%.
- Secured A- rating from Fitch; settled 3.5M shares for $252M; new $350M term loan fixed at 4.02%.

## SEC filing metadata
- accession: 0001104659-25-101229
- form_type: 8-K
- ticker: ADC
- cik: 0000917251
- company_name: AGREE REALTY CORP
- filed_at: 2025-10-21T23:59:59+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/917251/000110465925101229/0001104659-25-101229-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917251/000110465925101229/adc-20251021x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-101229
- JSON: https://secwatch.observer/filing/0001104659-25-101229.json
- Plain text: https://secwatch.observer/filing/0001104659-25-101229.txt

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