Agree Realty raises 2026 guidance after record Q2 investments

Agree Realty

30/07/2026 21:14

Overview
US retail net lease REIT's Q2 net income per share rose 2.2% yr/yr
Core FFO per share for Q2 increased 7.5% yr/yr
Company raised 2026 investment and AFFO per share guidance after record quarterly investments

Outlook
Agree Realty raises 2026 investment guidance to $1.6 bln-$1.8 bln
Company increases 2026 AFFO per share guidance to $4.57-$4.59
Company cites robust activity and strong liquidity as drivers for revised outlook

Result Drivers
RECORD INVESTMENT ACTIVITY - Co invested $502 mln in 102 retail net lease properties, the highest quarterly investment in its history
ACQUISITIONS OF INVESTMENT GRADE TENANTS - Co acquired 82 properties for $451.5 mln, with 73.2% of annualized base rents from investment grade retail tenants
HIGH OCCUPANCY AND LONG LEASE TERMS - Portfolio was 99.8% leased with a weighted-average lease term of 7.7 years at quarter end

Company press release: ID:nBwTynWXa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
$0.44
 
Q2 Net Income
 
$54.81 mln
 
Q2 Core FFO
 
$136 mln
 
Q2 Core FFO Per Share
 
$1.13
 

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 Corp is $84.00, about 4.5% above its July 29 closing price of $80.39
The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 37 three months ago

Reuters Recommended Reads
July 29 - Broadstone Net Lease Q2 EPS beats estimates, raises FY AFFO outlook
July 28 - WP Carey Q2 revenue beats estimates on higher leases; AFFO outlook raised
July 29 - Four Corners Property Trust Q2 rental revenue rises helped by the acquisition of 23 properties

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(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.)