Agree Realty Q3 net income per share up 18.5%; raises FY26 AFFO guidance
ADC•Agree Realty’s third-quarter net income per share rose 18.5% year over year, while core FFO and AFFO per share each increased 4.9%. The company raised 2026 AFFO per-share guidance to $4.58-$4.59 and expects investment volume of about $1.6 billion.
1. Quarterly results
Agree Realty reported third-quarter net income of $68.54 million, or $0.53 per share. Core FFO totaled $143.41 million, or $1.15 per share; core FFO and AFFO per share each increased 4.9% year over year.
2. Guidance and investments
The company raised its 2026 AFFO per-share guidance to $4.58-$4.59 and expects investment volume of approximately $1.6 billion. It also raised its 2026 disposition volume guidance to $100 million-$150 million.
3. Property activity
Agree Realty invested about $358 million in 94 retail net lease properties during the quarter. It started six development or funding projects with about $57 million in committed capital; more than half of the base rents from its acquisitions came from investment-grade tenants.
