Agree Realty Q3 net income per share up 18.5%; raises FY26 AFFO guidance

Agree Realty

20/10/2026 21:15

Overview
US retail net lease REIT's Q3 net income per share rose 18.5% yr/yr
Core FFO and AFFO per share each increased 4.9% yr/yr in Q3
Company raised 2026 AFFO per share guidance

Outlook
Company raises 2026 AFFO per share guidance to $4.58-$4.59
Company expects 2026 investment volume of approximately $1.6 bln
Company raises 2026 disposition volume guidance to $100-$150 mln

Result Drivers
PROPERTY INVESTMENTS - Co invested about $358 mln in 94 retail net lease properties in Q3
DIVERSIFIED ACQUISITIONS - Q3 acquisitions spanned multiple retail sectors and states, with over half of acquired base rents from investment grade tenants
DEVELOPMENT ACTIVITY - Co started six development or funding projects with about $57 mln in committed capital in Q3

Company press release: ID:nBw5fgLXTa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
$0.53
 
Q3 Net Income
 
$68.54 mln
 
Q3 Core FFO
 
$143.41 mln
 
Q3 Core FFO Per Share
 
$1.15
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "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 Corporation is $82.00, about 24.6% above its October 19 closing price of $65.82
The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 38 three months ago

Reuters Recommended Reads
Oct 19 - Fifth Third Bancorp Q3 net interest income jumps on Comerica acquisition
Oct 19 - Cleveland-Cliffs Q3 adj EPS beats on improved pricing, sales volumes

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.)