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Sep 30, 2021
Agree Realty Q3 2021 Earnings Report
Announced third quarter 2021 results, with ground lease portfolio approaching 14% of annualized base rents.
Key Takeaways
Agree Realty Corporation reported a 70.9% increase in net income for the three months ended September 30, 2021, reaching $36.4 million compared to $21.3 million in the same period of 2020. Core FFO increased 44.0% to $64.0 million. Total acquisition volume for the third quarter was approximately $340.1 million.
Net income for the three months ended September 30, 2021 increased 70.9% to $36.4 million.
Core FFO for the three months ended September 30, 2021 increased 44.0% to $64.0 million.
Total acquisition volume for the third quarter was approximately $340.1 million.
Properties ground leased to tenants increased to 13.8% of annualized base rents.
Forward Guidance
The Company is increasing the lower end of its outlook for acquisition volume for the full-year 2021 to $1.3 billion and is maintaining the upper end of the range at $1.4 billion of high-quality retail net lease properties.
Historical Earnings Impact
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