Agree Realty reports Q2 adjusted FFO $1.04, consensus $1.03

Reports Q2 revenue $,152.58M consensus $147.85M. “We are very pleased with our performance during the first half of the year,” said CEO Joey Agree. “During the quarter, we raised nearly $650 million of capital to further bolster our balance sheet, which now enjoys total liquidity of $1.7B proforma for the closing of our expanded Credit Facility. Our growing pipelines across all three external growth platforms give us confidence to increase our full-year acquisition guidance to approximately $700M. Given accelerating investment activity and the strong performance of our portfolio year-to-date, we are raising our 2024 AFFO per share guidance to a range of $4.11-$4.14, reflecting 4.4% growth at the midpoint.”