NYSE$ADC

Agree Realty Corp · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Agree Realty reported increased net income and core FFO for Q4 2021.

Agree Realty Corporation announced its Q4 and full year 2021 results, with a notable increase in net income and core FFO. The company's portfolio consisted of 1,404 properties, and total acquisition volume for the quarter was approximately $314.7 million.

  • Net Income for the three months ended December 31, 2021 increased 32.5% to $31.3 million.
  • Net Income per share for the three months ended December 31, 2021 increased 5.2% to $0.44.
  • Core FFO for the three months ended December 31, 2021 increased 38.6% to $65.6 million.
  • AFFO for the three months ended December 31, 2021 increased 37.4% to $64.7 million.

Headline financials

Total Revenue

$91.4M

Previous: $71.4M+28.0%
EPS (adj)

$0.91

Previous: $0.83+9.6%
Gross Leasable Area

29.1M

Previous: 22.7M+28.2%
Capital Expenditures

$315M

Previous: $352M-10.5%
Free Cash Flow

-$255M

Previous: -$300M+15.0%
Net Income

$31.3M

Previous: $23.6M+32.6%
Operating Income

$46.9M

Previous: $35.4M+32.7%
Gross Profit

$80.2M

Previous: $62M+29.4%
Cash & Equivalents

$43.3M

Previous: $6.14M+604.8%
Total Assets

$5.23B

Previous: $3.89B+34.5%
Stock-Based Comp

$1.32M

Previous: $1.23M+7.0%

Revenue & EPS history

Agree Realty · Revenue · Quarterly

$91.4M

Q4 2021+28%vs Q4 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Forward guidance

The Company's outlook for acquisition volume in 2022 remains between $1.1 billion and $1.3 billion of high-quality retail net lease properties. The Company's disposition guidance for 2022 remains between $25 million and $75 million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

-0.0%

Avg return

Earnings day

+0.3%

Avg return

5 days after

-0.0%

Avg return

30 days after

55%

36 / 65 earnings

Positive

+6.3%

Q1 2010

Best reaction

-6.7%

Q2 2010

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.8%-3.7%-4.3%
Q4 2025+0.3%+2.1%+3.5%
Q3 2025+0.2%-0.1%-0.6%
Q1 2025-2.4%-3.4%-5.2%
Q4 2024-1.7%-2.2%+5.9%
Q3 2024+2.3%+0.1%+2.9%
Q2 2024+2.3%+3.6%+9.2%
Q1 2024+2.6%+1.5%+3.7%
Q4 2023-3.4%-1.9%-5.0%
Q3 2023+0.3%+0.6%+6.4%
Q2 2023-2.7%-0.3%-4.6%
Q1 2023+2.5%+0.8%-2.3%
Q4 2022+1.3%+2.6%-6.4%
Q3 2022-3.2%-0.6%+2.2%
Q2 2022-3.0%-2.2%-4.3%
Q1 2022+4.3%+2.1%+6.5%
Q4 2021-1.6%+2.1%+1.6%
Q3 2021+0.6%-0.2%-6.5%
Q2 2021+0.6%+0.2%-1.8%
Q1 2021+0.9%+0.0%+2.8%
Q4 2020-1.8%+0.2%+3.4%
Q3 2020-0.5%+0.1%-1.5%
Q2 2020-2.8%-5.2%+0.6%
Q1 2020+0.7%-2.4%-1.8%
Q4 2019+3.8%-0.1%-31.3%
Q3 2019+1.7%+2.2%-0.9%
Q2 2019+5.3%+6.4%+14.0%
Q1 2019+0.3%+3.4%+3.1%
Q4 2018+1.8%+1.4%+5.3%
Q3 2018+0.1%+5.4%+8.2%
Q2 2018-1.5%-2.4%+5.1%
Q1 2018-0.4%+2.9%+7.3%
Q4 2017+5.9%+4.6%+3.2%
Q3 2017-0.7%-4.7%+0.7%
Q2 2017+1.1%+4.1%+5.0%
Q1 2017-1.4%-5.1%-10.3%
Q4 2016+3.7%+1.5%-1.6%
Q3 2016+1.2%-1.7%-7.9%
Q2 2016-1.2%+1.6%-4.2%
Q1 2016+3.1%
Q4 2015-3.6%
Q3 2015+2.2%
Q2 2015-0.1%
Q1 2015+0.7%
Q4 2014+0.1%
Q3 2014+0.7%
Q2 2014-1.3%
Q1 2014+0.2%
Q4 2013+0.1%
Q3 2013-0.8%
Q2 2013-0.8%
Q1 2013-1.7%
Q4 2012-0.8%
Q3 2012-0.7%
Q2 2012+0.3%
Q1 2011+0.1%
Q1 2012+0.8%
Q4 2009+0.6%
Q4 2011+0.6%
Q3 2010-0.2%
Q3 2011-0.2%
Q2 2011-6.7%
Q4 2010-6.7%
Q2 2010-6.7%
Q1 2010+6.3%

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