Agree Realty Reports Record Q2 Investment Activity and Raises Full-Year Guidance
Agree Realty Corporation (NYSE:ADC) reported record second-quarter investment activity of over $500 million in the quarter. This included $451 million for acquiring 82 retail net-lease properties, with development activities also reaching new levels. The company raised its full-year guidance for both investment volume and AFFO per share, citing strong performance across acquisition, development, and portfolio management. The updated outlook includes a projected annual investment range of $1.6 billion to $1.8 billion—up 24% from initial guidance—and an adjusted funds from operations (AFFO) per-share forecast increased to between $4.57–$4.59. The company also reported record occupancy at 99.8%, strong liquidity with approximately $1.9 billion in available capital, and a 4.3% year-over-year increase in its monthly dividend. Acquisitions were focused on high-credit retail sectors such as auto parts, home improvement, grocery stores, and convenience centers. Notable deals included ground leases for Walmart Supercenters and Home Depot locations. The company emphasized maintaining strong relationships with retailers to secure favorable terms without sacrificing yield.
Tickers: $ADC
Topics: dividend_increase guidance_update investments real_estate