| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 200.81 | 18.7% |
| Total Income | 200.81 | 18.7% |
| Expenditure | 104.48 | 14.5% |
| PBT | — | |
| Net Profit | 62.05 | 32.0% |
| OPM | 49.08% | 2.56pp |
| NPM | 30.90% | 3.12pp |
| EPS | 0.50 | 19.1% |
Agree Realty Reports Q1 2026 Results; Raised $660 Million via ATM Program
22 Apr 2026 · 22 Apr, 1:35 am
Summary
Agree Realty Corporation announced its first quarter 2026 results, reporting a net income increase of 33.4% to $60.2 million. Net income per share increased 19.1% to $0.50. Core FFO per share increased 8.1% to $1.13, and AFFO per share increased 7.9% to $1.14. The company invested approximately $424 million in 100 retail net lease properties and raised approximately $660 million of forward equity via the ATM program. CEO Joey Agree stated that the company's balance sheet is fortified, its pipeline is strong, and the team is laser-focused, positioning them well for the remainder of the year.
Key Highlights
- 1
Agree Realty invested approximately $424 million in 100 retail net lease properties during the first quarter of 2026.
- 2
The company completed or had under construction 15 development or Developer Funding Platform projects with anticipated total costs of approximately $112 million.
- 3
Net Income per share attributable to common stockholders increased 19.1% to $0.50 for the first quarter of 2026.
- 4
Core Funds from Operations per share increased 8.1% to $1.13 for the first quarter of 2026.
- 5
Adjusted Funds from Operations per share increased 7.9% to $1.14 for the first quarter of 2026.
- 6
The company sold 8.7 million shares of common stock via the forward component of the ATM program for anticipated net proceeds of approximately $658 million.
- 7
Agree Realty ended the quarter with approximately $2.3 billion of liquidity.
Management Comments
Joey Agree
Our first quarter results reflect a strong start to the year. Our balance sheet is fortified, our pipeline is strong and our Team is laser focused. We are extremely well-positioned to execute on our Operating Strategy for the remainder of the year and beyond.
Informational and educational content only. Not investment advice.