NYSE$ADC
Agree Realty Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Agree Realty Corporation reported results for the quarter and full year ended December 31, 2023, with fourth quarter ATM activity creating $500 million of leverage neutral investment capacity.
Agree Realty Corporation announced its Q4 and full year 2023 results. The company's net income for the quarter increased by 12.9% to $44.1 million. Total acquisition volume for the fourth quarter was approximately $187.2 million.
- Net Income for the three months ended December 31, 2023 increased 12.9% to $44.1 million, compared to $39.1 million for the comparable period in 2022.
- Core FFO for the three months ended December 31, 2023 increased 16.8% to $99.7 million, compared to Core FFO of $85.3 million for the comparable period in 2022.
- AFFO for the three months ended December 31, 2023 increased 18.8% to $100.3 million, compared to AFFO of $84.4 million for the comparable period in 2022.
- Total acquisition volume for the fourth quarter was approximately $187.2 million and included 50 select properties net leased to leading retailers.
Headline financials
Revenue & EPS history
Agree Realty · Revenue · Quarterly
$144M
Forward guidance
Agree Realty remains intently focused on prudently allocating capital to drive sustainable AFFO per share growth above our previously discussed base case of over 3% growth in 2024.
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 2023
-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
| Quarter | Report date | Reaction (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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