Agree Realty Hits Q4 FFO of $1.11, Revenue Climbs 18.5% to $190.5M
Agree Realty posted Q4 FFO of $1.11 per share, beating the $1.10 consensus by 1.21%, while revenues rose 18.5% year-over-year to $190.49 million, topping estimates by 1.97%. Shares have gained 4.5% year-to-date against a 1.7% S&P 500 increase, with next-quarter FFO seen at $1.11.
1. Q4 Results Exceed Estimates
Agree Realty delivered Q4 adjusted FFO of $1.11 per share versus the $1.10 consensus, representing a 1.21% surprise. Revenue for the quarter reached $190.49 million, surpassing the consensus by 1.97% and reflecting continued outperformance against analyst forecasts.
2. Year-Over-Year Growth and Market Response
Compared to the prior year’s FFO of $1.04 and revenues of $160.73 million, the company achieved 6.7% FFO growth and 18.5% revenue growth. Shares have rallied roughly 4.5% since January 1, outpacing the S&P 500’s 1.7% gain.
3. Outlook and Consensus Expectations
Analysts project Q1 FFO of $1.11 on $192.85 million in revenues, with full-year FFO pegged at $4.53 on $799.81 million in revenues. Near-term performance will hinge on management’s commentary and trends in estimate revisions within the retail REIT sector.