Agree Realty Beats on Q3 AFFO, Lifts 2026 Guidance but Trims Investment Outlook
ADC is trading near its 52-week low of $64.43 (4.1% above the low).
Summary
Agree Realty reported Q3 2026 net income of $66.5 million, up 32.3% year over year, with net income per share up 18.5% and Core FFO and AFFO per share both at $1.15, up 4.9%. The company raised the low end of its 2026 AFFO per share guidance to $4.58-$4.59 from $4.57-$4.59, but cut full-year investment volume to approximately $1.6 billion from the prior $1.6-$1.8 billion range and lifted disposition guidance to $100-$150 million. It also declared an increased October monthly dividend of $0.271 per share, a 3.4% year-over-year increase. The quarter included $357.7 million of investment across 94 properties at a 7.3% weighted-average cap rate, settlement of 5.7 million forward equity shares for $425.7 million, and a $400 million 5.65% senior notes offering at a 5.36% all-in rate. Balance sheet remains strong at 3.9x proforma net debt to recurring EBITDA with roughly $2.0 billion of liquidity, though the trimmed investment guidance points to a more cautious acquisition pace. The analyst call is October 21 at 9:00 AM ET.
At the time of this announcement, ADC was trading at $67.08 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $8.3B. The 52-week trading range was $64.43 to $82.08. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.