Agree Realty (ADC) Tops Q4 EPS by 5c

Agree Realty (NYSE: ADC) reported Q4 EPS of $0.52, $0.05 better than the analyst estimate of $0.47.

• Invested $141.1 million in 41 retail net lease properties
• Net Income per share attributable to the Company increased 39.9% to $0.52
• Net Income attributable to the Company increased 70.8% to $22.6 million
• Increased Core Funds from Operations ("Core FF\") per share 12.3% to $0.81
• Increased Core FFO 37.0% to $35.0 million
• Increased Adjusted Funds from Operations ("AFFO") per share 11.5% to $0.80
• Increased AFFO 36.1% to $34.5 million
• Declared a quarterly dividend of $0.585 per share, a 5.4% year-over-year increase
• Completed forward equity offerings for anticipated net proceeds of $144.7 million through the sale of 2,003,118 shares of common stock via the Company\'s at-the-market equity program ("ATM Program")
• Settled the entirety of the April 2019 forward equity offering for net proceeds of approximately $195.8 million

For earnings history and earnings-related data on Agree Realty (ADC) click here.

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