• Agree Realty first-quarter 2026 earnings call transcript detailed results discussed by President and CEO Joey Agree, CFO Peter Coughenour, Senior Director of Corporate Finance Reuben Treatman; analysts from Bank of America, UBS, Citi, Wells Fargo, KeyBanc, Barclays, Jefferies, BMO, Morgan Stanley participated.
• Quarter investment totaled nearly $425 million across 100 properties; acquisitions were $403 million at 7.1% weighted average cap rate.
• Balance sheet actions included sale of 8,700,000 shares of forward equity for anticipated net proceeds of about $658 million; outstanding forward equity totaled 18,400,000 shares for about $1.4 billion on settlement.
• Guidance held as AFFO per share $4.54-$4.58; treasury stock method dilution expected to reduce full-year AFFO per share by $0.02-$0.04.
• Management flagged no anticipated store closures in portfolio; credit and occupancy loss ran 14 basis points in Q1 versus full-year assumption of 25-50 basis points.

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