Agree Realty Raises 2025 AFFO Guidance Despite EPS Miss

Agree Realty reported Q3 net income of $50.26 million ($0.45/share), missing the Street EPS consensus of $0.47, while revenue rose 18.7% to $183.22 million. Adjusted FFO was $1.10 per share, beating the Zacks consensus of $1.08 and up from $1.03 a year earlier. After the quarter the REIT raised full‑year AFFO guidance to $4.31–$4.33 per share (midpoint $4.32) and lifted its projected investment volume, including guidance for $1.65 billion of investments, while projecting roughly 4.4% AFFO growth. Management attributed the improvement to strong investment activity, though the EPS miss and forthcoming management commentary may affect whether the stock reverses its year‑to‑date underperformance versus the S&P 500.