Agree Realty Reports Q3 2026 Results with Increased AFFO Guidance and Record Occupancy
Agree Realty Corporation (ADC) reported third-quarter 2026 financial results characterized by strong core metrics, including a record portfolio occupancy rate of 99.8%. The company saw an 18.5% year-over-year increase in net income per share to $0.53 and a 4.9% rise in AFFO per share to $1.15. Despite these gains, management reduced full-year investment guidance to approximately $1.6 billion as they prioritize higher-yield opportunities in response to an increased cost of capital. To optimize the portfolio, Agree Realty is increasing its disposition guidance to a range of $100 million to $150 million, aiming for effective capital recycling with an 80 basis point spread between acquisition and disposition yields. While the company remains liquid with approximately $2.0 billion available, leadership noted caution regarding the grocery sector's margins in the current macroeconomic environment.
Topics: acquisition volume AFFO per share investment guidance liquidity portfolio occupancy