Agree Realty (ADC) Misses Q1 FFO by 1c

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Agree Realty Corporation Reports Operating Results For The First Quarter 2015

April 27, 2015 4:01 PM EDT

BLOOMFIELD HILLS, Mich., April 27, 2015 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) today announced results for the quarter ended March 31, 2015.  All per share amounts included herein are on a diluted per common share basis unless otherwise stated.

First Quarter Financial and Operating Highlights:

Increased rental revenue 26.4% to $14.6 million Increased Funds from Operations (FFO) 26.2% to $10.0 million Increased FFO per share 7.7% to $0.56 from $0.52 Increased Adjusted Funds from Operations (AFFO) 24.1% to $10.1 million Increased AFFO per share 5.6% to $0.57 from $0.54 Acquired 25 retail net lease properties for approximately $59.7 million... More