Agree Realty Corporation (ADC) 2022年年度报告「NYSE」.pdf

1、ANNUALREPORT2022Agree Realty Corporation(NYSE:ADC)is a fully-integrated,self-administered,and self-managed real estate investment trust(REIT)whose mission is to RETHINK RETAIL through the acquisition and development of properties net leased to industry-leading,omni-channel retail tenants throughout

2、the United States.Building upon the foundation of excellence established throughout the past five decades,Agree Realty continues to be a market leader in the net lease space.As of December 31,2022,our growing portfolio consisted of 1,839 assets in all 48 continental states,containing approximately 3

3、8.1 million square feet of gross leasable area.ANNUAL REPORTfor the year endedDECEMBER 31,2022 Dear Fellow Shareholders,This past year was yet another record year for our Company.We invested or committed$1.7 billion in 465 retail net lease properties,the eleventh consecutive year of record investmen

4、t volume.Our record investment volume drove strong AFFO per share growth of 9.2%in 2022 and almost 19%on a two-year stacked basis.Simultaneously,we further strengthened our fortress balance sheet,raising approximately$1.7 billion of capital and positioning ourselves for continued growth.This consist

5、ent growth and conservative balance sheet management has driven tremendous total returns for our shareholders.As of year-end,we delivered a 10-year total shareholder return of almost 315%,which is in the top 10 of all equity REITs and nearly 50%higher than any other retail or net lease REIT.Once aga

6、in,with the current volatile economic environment and uncertainty driven by geopolitical events,our best-in-class portfolio and balance sheet are positioned to deliver stable,growing,and predictable returns to our shareholders.We coupled our record performance last year with an ALL IN commitment to