Agree Realty Q4 2020 Earnings Report
Key Takeaways
Agree Realty Corporation announced a 4.7% increase in net income for the quarter ended December 31, 2020, reaching $23.6 million. Core FFO and AFFO also saw significant increases, and the company's portfolio consisted of 1,129 properties with a high occupancy rate of 99.5%.
Net income attributable to the Company increased 4.7% to $23.6 million compared to the comparable period in 2019.
Core FFO increased 35.1% to $47.3 million compared to the comparable period in 2019.
Total acquisition volume for the fourth quarter of 2020 was approximately $355.6 million.
The Company has received fourth quarter rent payments originally contracted for those quarters from 99% of its portfolio.
Agree Realty
Agree Realty
Forward Guidance
The Company’s outlook for acquisition volume in 2021 remains between $800 million and $1.0 billion of high-quality retail net lease properties and disposition guidance for 2021 remains between $25 million and $75 million.