Agree Realty Q4 2019 Earnings Report
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.
Agree Realty
Agree Realty
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.