ADC Stock Discussion (Agree Realty Corp)

Agree Realty lifts the floor of its cash-earnings guidance and moderates investment plans

Agree Realty ($ADC) reported quarterly net income of $66.5 million, up 32.3%, and earnings per share of $0.53, up 18.5%. Adjusted funds from operations were $1.15 per share. The company invested approximately $358 million across 94 retail properties during the quarter, expanding its property portfolio while continuing to generate recurring rental-based cash earnings. Management narrowed full-year adjusted funds-from-operations guidance to $4.58–4.59 per share from $4.57–4.59, raising only the lo

ADC

@tickerstat1 month ago

Agree Realty prices $400 million of long-term unsecured debt

Agree Realty’s ($ADC) operating partnership priced $400 million of senior unsecured notes due in 2036. The notes carry a 5.650% coupon and were issued at 98.497% of face value, producing a 5.849% yield. Earlier interest-rate hedges reduce the company’s stated effective financing cost to approximately 5.36%. The offering is expected to close on September 22, and proceeds are intended for general corporate purposes, including debt repayment, property acquisitions and development. Agree said liquid