- Agree Realty (NYSE:ADC) Q2 core FFO per share of 75 cents beats the average analyst estimate of 72 cents and rose from 71 cents in the year-ago quarter.
- Names Simon Leopold, who is currently Taubman Centers' CFO and treasurer, to board.
- Boosts 2019 acquisition guidance to $625M-$675M and disposition guidance to $50M-$75M; had seen year acquisitons of $450M-$500M and dispositions of $25M-$75M.
- Q2 acquisition volume, excluding acquisition and closing costs, was ~$176.1M and included 31 assets net leased.
- Sold four properties for gross proceeds of ~$17.3M during Q2.
- As of June 30, 2019, portfolio was ~99.7% leased, had weighted-average remaining lease term of ~10.1 years.
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Conference call on July 23 at 9:00 AM ET.
- Previously: Agree Realty FFO beats by $0.03, beats on revenue (July 22)