Agree Realty (ADC) Tops Q4 EPS by 2c

Agree Realty (NYSE: ADC) reported Q4 EPS of $0.42, $0.02 better than the analyst estimate of $0.40.

• Invested $363.3 million in 106 retail net lease properties
• 19.4% of annualized base rents acquired were derived from ground leased assets
• Commenced two new development and Partner Capital Solutions (\"PCS\") projects
• Net Income per share attributable to the Company decreased 19.6% to $0.42
• Net Income attributable to the Company increased 4.7% to $23.6 million
• Increased Core Funds from Operations (\"Core FFO\") per share 3.8% to $0.84
• Increased Core FFO 35.1% to $47.3 million
• Increased Adjusted Funds from Operations (\"AFFO\") per share 4.8% to $0.83
• Increased AFFO 36.4% to $47.1 million
• Declared a quarterly dividend of $0.620 per share, a 6.0% year-over-year increase
• Sold 1,501,210 shares of common stock via the forward component of the Company\'s at-the-market equity (\"ATM\") program for anticipated net proceeds of approximately $98.2 million
• Settled the remaining 4,651,666 shares of the Company\'s outstanding April 2020 forward equity offering for net proceeds of approximately $266.7 million

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

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