Agree Realty Q3 2024 Earnings Report
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.
Agree Realty
Agree Realty
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.