Every material Form 8-K Agree Realty filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Agree Realty entered a $350 million unsecured delayed draw term loan maturing May 15, 2031, with no borrowings outstanding as of November 17, 2025. The filing also reports a lower interest rate on its existing revolving credit agreement and a fixed 4.37% rate on its existing term loan after amendments.
$350 million unsecured delayed draw term loan with PNC Bank as administrative agent, maturing May 15, 2031
No borrowings outstanding as of November 17, 2025; the company has access to the full $350 million
Revolving credit spread adjustment reduced from 10 basis points to zero; existing term loan fixed at 4.37% after amendments
Agree Realty reported third-quarter 2025 results on October 21, 2025. Net income attributable to common stockholders rose 18.2% to $50.3 million, and AFFO per share rose 7.2% to $1.10. The company raised its 2025 AFFO per share guidance to $4.31 to $4.33 and its 2025 investment volume guidance to $1.50 billion to $1.65 billion, which signals higher expected earnings and growth for shareholders.
Q3 net income attributable to common stockholders was $50.3 million, up 18.2%; $0.45 per share, up 7.9%
Q3 Core FFO per share was $1.09, up 8.4%; AFFO per share was $1.10, up 7.2%
2025 AFFO per share guidance raised to $4.31 to $4.33 from $4.29 to $4.32
Q3 investment volume was about $451 million in 110 properties; 2025 investment guidance raised to $1.50 billion to $1.65 billion
Agree Realty reported second-quarter 2025 results and raised its 2025 AFFO per share guidance to $4.29 to $4.32 from $4.27 to $4.30. It also raised its 2025 investment volume guidance to $1.4 billion to $1.6 billion from $1.3 billion to $1.5 billion. Net income per share fell 18.5% to $0.43, while Core FFO and AFFO per share rose, so shareholders get a mixed picture of profit against cash-flow measures.
Q2 2025 net income per share attributable to common stockholders decreased 18.5% to $0.43, from $0.52; net income was $47.3 million, down 10.5%.
Q2 2025 Core FFO per share increased 1.3% to $1.05, and AFFO per share increased 1.7% to $1.06.
2025 AFFO per share guidance raised to $4.29 to $4.32; 2025 investment volume guidance raised to $1.4 billion to $1.6 billion.
Monthly dividend of $0.256 per share declared for June, a 2.4% year-over-year increase; the July dividend is payable August 14, 2025.
Agree Limited Partnership, a subsidiary of Agree Realty Corporation, completed an underwritten public offering of $400 million of 5.600% senior unsecured notes due June 15, 2035, guaranteed by the parent. The offering closed May 23, 2025, with net proceeds to the parent guarantor of approximately $393.6 million after the underwriting discount and estimated expenses.
Notes: $400 million principal, 5.600% interest, maturing June 15, 2035; interest paid June 15 and December 15 starting December 15, 2025
Underwriters paid 98.647% of principal for the notes
Net proceeds to the parent guarantor of approximately $393.6 million
Indenture includes limits on additional indebtedness and a requirement to maintain a pool of unencumbered assets
Agree Realty reported first-quarter 2025 net income per share down 2.0% to $0.42, while Core FFO per share rose 3.1% to $1.04 and AFFO per share rose 3.0% to $1.06. The company raised its full-year 2025 investment volume guidance to $1.3 billion to $1.5 billion and its AFFO per share guidance to $4.27 to $4.30. For shareholders, the higher AFFO guidance points to a higher expected cash earnings per share, although GAAP net income per share fell slightly.
Q1 2025 total revenues were $169.2 million, compared with $149.5 million in Q1 2024.
Net income attributable to common stockholders rose 5.0% to $45.1 million, but net income per diluted share fell to $0.42 from $0.43.
2025 AFFO per share guidance was revised to $4.27 to $4.30 from $4.26 to $4.30.
2025 investment volume guidance was raised to $1.3 billion to $1.5 billion from $1.1 billion to $1.3 billion.
Agree Realty reported fourth quarter and full year 2024 results on February 11, 2025, and gave initial 2025 AFFO per share guidance of $4.26 to $4.30. Quarterly Core FFO and AFFO per share rose, while fourth quarter net income per share fell 5.7%, so shareholders see mixed quarterly earnings alongside higher funds from operations.
Q4 2024 net income per share fell 5.7% to $0.41, while full year net income per share rose 4.8% to $1.78
Q4 2024 Core FFO per share rose 3.5% to $1.02 and AFFO per share rose 4.7% to $1.04
2025 guidance: AFFO per share of $4.26 to $4.30 and investment volume of $1.1 to $1.3 billion
Year-end liquidity was over $2.0 billion, including about $1.1 billion of Credit Facility availability
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Agree Realty filing is on SEC EDGAR ↗. 8-K briefs of other companies →