- Agree Realty press release ( NYSE: ADC ): Q3 FFO of $0.96 misses by $0.01 .
- Revenue of $110.07M (+25.7% Y/Y) misses by $0.26M .
- Declared an October monthly dividend of $0.240 per common share, a 5.7% year-over-year increase.
- Completed a public bond offering of $300 million of 4.80% senior unsecured notes due 2032 with an effective all-in rate of 3.76% inclusive of prior hedging activity
- Sold 1,688,390 shares of common stock via the forward component of the Company's at-the-market equity ("ATM") program for anticipated net proceeds of approximately $127 million
- Commenced a forward equity offering of 5,750,000 shares of common stock, including the underwriters' option to purchase additional shares, raising anticipated net proceeds of approximately $382 million
- Settled 8,739,752 shares of outstanding forward equity for net proceeds of approximately $601 million
- Balance sheet positioned for growth at 3.1 times proforma net debt to recurring EBITDA; 4.0 times excluding unsettled forward equity.
For further details see:
Agree Realty FFO of $0.96 misses by $0.01, revenue of $110.07M misses by $0.26M