Agree Realty (ADC): Q4 FFO Surpasses Estimates, EPS 47 Cents

Agree Realty Corp. (ADC) reported fourth-quarter funds from operations of $128 million, or $1.11 per share, topping Zacks analyst estimates of $1.10 and outperforming net income of $54.2 million, or 47 cents per share. Revenue reached $190.5 million, exceeding forecasts of $186.8 million. Year-over-year FFO was $482.8 million, or $4.33 per share, with full-year guidance of $4.54 to $4.58 per share. The company’s shares rose 6% YTD and closed at $76.51 on Tuesday, reflecting 5% gains in the last 12 months.