Agree Realty Q2 2021 Earnings Report
Key Takeaways
Agree Realty Corporation announced its second quarter 2021 results, with net income decreasing to $22.3 million, but Core FFO increasing by 43.4% to $58.6 million. The company raised its 2021 acquisition guidance to $1.2 billion to $1.4 billion and saw ground lease exposure increase to a record 12.7%.
Net income decreased 11.5% to $22.3 million compared to Q2 2020.
Core FFO increased 43.4% to $58.6 million compared to Q2 2020.
Total acquisition volume for the second quarter was approximately $345.5 million.
Ground lease exposure increased to a record 12.7% of annualized base rents.
Agree Realty
Agree Realty
Forward Guidance
Agree Realty Corporation increased its outlook for acquisition volume for the full-year 2021 to a range of $1.2 billion to $1.4 billion and is increasing the lower end of its total disposition guidance range for 2021 from $25 million to $50 million and is maintaining the upper end of the range at $75 million.