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Dec 31, 2019
Agree Realty Q4 2019 Earnings Report
Agree Realty's Q4 2019 performance demonstrated strong growth with significant increases in net income, FFO, and AFFO, driven by strategic acquisitions and dispositions.
Key Takeaways
Agree Realty Corporation reported a strong fourth quarter and record full year for 2019. Key highlights include a significant increase in net income, core FFO, and AFFO. The company continued to execute its operating strategy with record investment volume and opportunistic disposition activities.
Net income increased by 70.8% to $22.6 million compared to Q4 2018.
Core FFO increased by 37.0% to $35.0 million compared to Q4 2018.
Total acquisition volume for the fourth quarter of 2019 was approximately $138.0 million.
The Company sold seven properties for gross proceeds of approximately $31.8 million during the fourth quarter.
Forward Guidance
Agree Realty's outlook for acquisition volume in 2020 is between $600 and $700 million of high-quality retail net lease properties and disposition guidance for 2020 is between $25 million and $75 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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