Agree Realty Corporation third quarter 2026 results beat expectations with raised guidance and $2B liquidity

Agree Realty Corporation reported third quarter 2026 revenue of $213.9 million and AFFO per share of $1.15, both exceeding analyst expectations. The company demonstrated continued external growth through $358 million in total investments while maintaining a disciplined balance sheet, leading management to raise the full-year 2026 AFFO per share guidance to a range of $4.58 to $4.59.

Key Highlights

• Acquisition volume for the quarter totaled $308.6 million across 68 properties at a weighted-average capitalization rate of 7.3%.
• Core FFO and AFFO per share both increased 4.9% year-over-year to $1.15, supported by a portfolio that remains 99.8% leased.
• The company fortified its balance sheet with approximately $2.0 billion in total liquidity and a proforma net debt to recurring EBITDA of 3.9x.
• Management increased the monthly cash dividend for October to $0.271 per common share, representing a 3.4% year-over-year increase.