Loading...
•
Dec 31, 2023
Agree Realty Q4 2023 Earnings Report
Agree Realty Corporation reported results for the quarter and full year ended December 31, 2023, with fourth quarter ATM activity creating $500 million of leverage neutral investment capacity.
Key Takeaways
Agree Realty Corporation announced its Q4 and full year 2023 results. The company's net income for the quarter increased by 12.9% to $44.1 million. Total acquisition volume for the fourth quarter was approximately $187.2 million.
Net Income for the three months ended December 31, 2023 increased 12.9% to $44.1 million, compared to $39.1 million for the comparable period in 2022.
Core FFO for the three months ended December 31, 2023 increased 16.8% to $99.7 million, compared to Core FFO of $85.3 million for the comparable period in 2022.
AFFO for the three months ended December 31, 2023 increased 18.8% to $100.3 million, compared to AFFO of $84.4 million for the comparable period in 2022.
Total acquisition volume for the fourth quarter was approximately $187.2 million and included 50 select properties net leased to leading retailers.
Forward Guidance
Agree Realty remains intently focused on prudently allocating capital to drive sustainable AFFO per share growth above our previously discussed base case of over 3% growth in 2024.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...