Monitor upcoming investment pace and leasing activity to sustain AFFO growth; the maintained guidance and strong capital markets execution suggest continued outperformance in the retail REIT sector.
Price Chart
Executive Summary
Agree Realty Corporation reported strong first-quarter 2026 results with AFFO per share of $1.14, up 7.9% YoY, driven by robust investment activity and capital markets execution. The company raised $660 million in forward equity and maintained full-year AFFO guidance of $4.54–$4.58, signaling confidence in its growth trajectory.
Key Financial Metrics
Key Facts
- AFFO per share of $1.14, up 7.9% YoY
- Raised $658 million in forward equity during the quarter
- Invested $424 million in 100 retail net lease properties
- Maintained 2026 AFFO per share guidance at $4.54–$4.58
- Balance sheet strengthened with $2.3 billion of liquidity
Financial Impact
AFFO beat consensus by 10.7%, revenue beat by 2.7%
Risk Factors
- Forward equity issuances may lead to shareholder dilution
- Rising interest rates could impact future financing costs
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000917251-26-000046 |
| Document: adc20260331-ex993.htm | 0000917251-26-000046 |
| Document: adc20260331-ex992.htm | 0000917251-26-000046 |
| Document: adc-20260421.htm | 0000917251-26-000046 |
| Document: 0000917251-26-000046-index-headers.html | 0000917251-26-000046 |
| Document: 0000917251-26-000046-index.html | 0000917251-26-000046 |
| 8-K Data (Synthetic) | 0000917251-26-000046 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 2, 2026 29d ago | Insider Buy | $72.73 $71.23 | ▼ −2.06% | ▼ −0.91% | $65.89 (−9.40%) |
Aug 11, 2026 7w ago | Institutional Cluster | $74.36 $74.39 | ▲ +0.04% | ▲ +0.48% | $65.89 (−11.39%) |
Jul 2, 2026 13w ago | 8-K | $77.81 $77.85 | ▲ +0.05% | ▼ −0.88% | $65.89 (−15.32%) |
Jun 8, 2026 16w ago | Insider Buy | $73.24 $74.47 | ▲ +1.68% | ▼ −0.43% | $65.89 (−10.04%) |
May 18, 2026 19w ago | Insider Cluster | $75.77 $75.51 | ▼ −0.34% | ▼ −1.96% | $65.89 (−13.04%) |
May 18, 2026 19w ago | Insider Cluster | $75.77 $75.51 | ▼ −0.34% | ▼ −1.96% | $65.89 (−13.04%) |
May 18, 2026 19w ago | Insider Cluster | $75.77 $75.51 | ▼ −0.34% | ▼ −1.96% | $65.89 (−13.04%) |
Apr 24, 2026 22w ago | 8-K | $17.06 $17.05 | ▼ −0.06% | ▼ −0.46% | $65.89 (+286.23%) |
Apr 24, 2026 22w ago | 424B5 | $17.06 $17.05 | ▼ −0.06% | ▼ −0.46% | $65.89 (+286.23%) |
Apr 21, 2026 23w ago | 8-K | $17.06 $17.04 | ▼ −0.12% | ▼ −0.17% | $65.89 (+286.23%) |
US Market Status
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