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Mar 31, 2023
Agree Realty Q1 2023 Earnings Report
Agree Realty Corporation reported strong first quarter 2023 results, increasing 2023 acquisition guidance.
Key Takeaways
Agree Realty Corporation announced a strong first quarter 2023 with net income increasing by 16.1% to $39.8 million and AFFO increasing 28.7% to $89.1 million. The company increased its full-year acquisition guidance to at least $1.2 billion.
Net income increased 16.1% to $39.8 million compared to the same period in 2022.
Core FFO increased 27.6% to $89.0 million compared to the same period in 2022.
Total acquisition volume for the first quarter was approximately $302.3 million.
The Company’s outlook for acquisition volume for the full-year 2023 has been increased to at least $1.2 billion.
Forward Guidance
The Company’s outlook for acquisition volume for the full-year 2023 has been increased to at least $1.2 billion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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