Agree Realty Q1 net income per share rises 19%

Agree Realty

21/04/2026 21:23

Overview

U.S. retail net lease REIT's Q1 net income per share rose 19.1% yr/yr

Core FFO per share for Q1 increased 8.1% yr/yr

Company raised $658 mln via ATM equity program, ending Q1 with $2.3 bln liquidity

Outlook

Agree Realty maintains 2026 AFFO per share guidance at $4.54 to $4.58

Company expects 2026 investment volume of $1.4 bln to $1.6 bln

Company sees 2026 disposition volume between $25 mln and $75 mln

Result Drivers

ACQUISITIONS - Co invested $402.5 mln in 85 net lease retail properties across 32 states, expanding portfolio and rental income

DEVELOPMENT ACTIVITY - 15 development or Developer Funding Platform projects completed or under construction with anticipated total costs of $112 mln

HIGH OCCUPANCY - Portfolio was 99.7% leased at quarter end, supporting stable rental income

Company press release: ID:nBw6bScC9a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.50
Q1 Net Income
$62.23 mln
Q1 Core FFO
$136.30 mln
Q1 Core FFO Per Share
$1.13


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the commercial reits peer group is "buy"

Wall Street's median 12-month price target for Agree Realty Corp is $84.25, about 5.9% above its April 20 closing price of $79.56

The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 36 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)