Overview

* Agree Realty ( ADC ) Q3 net income rises 18.2% to $50.3 mln

* Core FFO per share for Q3 increases 8.4% to $1.09

* Company raises 2025 investment guidance to $1.50 bln to $1.65 bln

Outlook

* Agree Realty ( ADC ) raises 2025 investment guidance to $1.50 bln-$1.65 bln

* Company increases 2025 AFFO per share guidance to $4.31-$4.33

* Company lowers 2025 income tax expense guidance to $2 mln-$2.5 mln

Result Drivers

* RETAIL INVESTMENTS - Co invested $451 mln in 110 retail net lease properties, driving growth

* DEVELOPMENT PROJECTS - Commenced five development projects with $51 mln committed capital

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.45

Q3 Net $52.27

Income mln

Q3 Core $122.40

FFO mln

Q3 Core $1.09

FFO Per

Share

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 7 "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 ( ADC ) is $81.50, about 7% above its October 20 closing price of $75.76

* The stock recently traded at 39 times the next 12-month earnings vs. a P/E of 39 three months ago

Press Release:

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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.)