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Sep 30, 2024
Agree Realty Q3 2024 Earnings Report
Agree Realty Corporation's financial performance for Q3 2024 was reported, featuring increased acquisition guidance and strong liquidity.
Key Takeaways
Agree Realty Corporation announced its Q3 2024 results, with net income increasing by 7.2% to $42.5 million. The company raised its 2024 acquisition guidance to approximately $850 million, driven by capital markets activities that resulted in a record liquidity of over $1.9 billion.
Net income for the three months ended September 30, 2024, increased 7.2% to $42.5 million, compared to $39.7 million for the comparable period in 2023.
Core FFO for the three months ended September 30, 2024 increased 6.8% to $102.9 million, compared to Core FFO of $96.4 million for the comparable period in 2023.
AFFO for the three months ended September 30, 2024 increased 7.4% to $104.8 million, compared to AFFO of $97.6 million for the comparable period in 2023.
Total acquisition volume for the third quarter was approximately $215.6 million.
Forward Guidance
The Company is increasing full-year 2024 acquisition guidance to approximately $850 million and raising the lower end of our 2024 AFFO per share guidance to a range of $4.12 to $4.14.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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