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Agree Realty lifts full-year acquisition guidance after inline quarter

Published 10/23/2017, 04:54 PM
© Reuters.  Agree Realty lifts full-year acquisition guidance after inline quarter
ADC
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  • Q3 adjusted FFO of $19.9M or $0.69 per share vs. $15.8M and $0.66 a year ago. Dividend is $0.505.
  • Portfolio of 425 properties in 43 states totaling 8.3M square feet; 99.7% leased with weighted-average remaining lease term of 10.5 years. About 45.2% of annualized base rent comes from investment grade retail tenants.
  • Q3 acquisitions of 14 assets for $54.9M; weighted-average cap rate of 7.4%. Four properties sold for $7.8M.
  • Full-year acquisition guidance upped to $300M-$325M.
  • Conference call tomorrow at 9 ET
  • Previously: Agree Realty FFO in-line, beats on revenue (Oct. 23)
  • ADC flat after hours
  • Now read: Don't Throw Outfront Media Under The Bus


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