Agree Realty Corporation reported significant financial growth in its latest quarterly filing, with total revenues reaching $213.9 million for the three months ended September 30, 2026, compared to $183.2 million for the same period in 2025, marking an increase of 16.8%. Rental income specifically rose to $213.8 million, up from $183.2 million, driven by an expanded portfolio of properties. For the nine-month period, total revenues increased to $619.8 million from $527.9 million, reflecting a 17.4% growth year-over-year. The company’s net income also saw a substantial rise, reaching $68.5 million for the third quarter, a 31% increase from $52.3 million in the prior year.
The company’s total assets grew to approximately $10.95 billion as of September 30, 2026, up from $9.80 billion at the end of 2025. This increase was primarily attributed to the acquisition of additional properties, with the total number of properties owned rising to 2,888, up from 2,674 at the end of the previous fiscal year. The net real estate investments also increased to $9.52 billion, compared to $8.57 billion at the end of 2025. The company completed 68 property acquisitions during the third quarter alone, with a total purchase price of $309.1 million.
Operationally, Agree Realty Corporation reported a weighted average remaining lease term of approximately 7.8 years across its portfolio, which is 99.8% leased. The company’s strategic focus on acquiring properties leased to investment-grade tenants has contributed to its stability and growth. The company also recognized a net gain on the sale of assets of $5.4 million during the third quarter, compared to $0.9 million in the same period last year, indicating a robust disposition strategy.
In terms of financing, the company’s total gross indebtedness stood at $3.75 billion, with a significant portion attributed to senior unsecured notes and unsecured term loans. The company successfully raised $394 million through a public offering of senior unsecured notes due in 2036, which will enhance its liquidity position. As of September 30, 2026, the company had $2 billion in liquidity, including cash and cash equivalents of $91.5 million and availability under its revolving credit facility.
Looking ahead, Agree Realty Corporation remains optimistic about its growth trajectory, driven by its ongoing acquisition strategy and the stability of its tenant base. The company anticipates continued revenue growth from its expanded portfolio and plans to leverage its liquidity for future investments and operational needs. The management emphasized its commitment to maintaining its status as a Real Estate Investment Trust (REIT) while navigating market conditions and potential economic challenges.
About AGREE REALTY CORP
Agree Realty Corporation is a fully integrated real estate investment trust (REIT) focused on acquiring, developing, and managing retail properties net leased to leading national tenants. With a portfolio of 2,370 properties across all 50 states, the company targets sectors resilient to e-commerce and economic downturns. Significant initiatives include a $939.2 million investment in retail real estate and a commitment to sustainability, enhancing its market position and dividend growth.
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