Agree Realty Q3 2023 Earnings Report

Agree Realty Corporation reported results for the quarter ended September 30, 2023, achieving record investment grade exposure.

Key Takeaways

Agree Realty Corporation announced its Q3 2023 results, with net income increasing by 5.6% to $39.7 million and Core FFO increasing by 23.3% to $96.4 million. The company's portfolio consisted of 2,084 properties in 49 states, with 99.7% leased and 68.9% of annualized base rents from investment grade retail tenants. Total acquisition volume for the quarter was approximately $398.3 million.

Net income for the quarter increased 5.6% to $39.7 million compared to the same period in 2022.

Core FFO for the quarter increased 23.3% to $96.4 million compared to the same period in 2022.

Total acquisition volume for the quarter was approximately $398.3 million.

The company's portfolio consisted of 2,084 properties, with 99.7% leased and 68.9% of annualized base rents from investment grade retail tenants.