Business Context and Reporting Period
Company: Agree Realty Corporation (AGREE REALTY CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: July 3, 2024
Reporting Period: The filing discloses weighted-average share counts for the three and six months ended June 30, 2024.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity figures. It exclusively details share count calculations for earnings per share (EPS) purposes.
| Metric | Three Months Ended June 30, 2024 |
Six Months Ended June 30, 2024 |
|---|---|---|
| Weighted-average common shares outstanding (Basic) | 100,349,943 | 100,319,591 |
| Weighted-average common shares outstanding (Diluted) | 100,454,703 | 100,415,466 |
| Weighted-average shares and OP Units (Diluted) | 100,802,322 | 100,763,085 |
| Impact of ATM forward equity offerings (Dilutive shares) | 15,178 | 7,590 |
Material Changes
The filing does not provide comparative financial data for prior periods to assess material changes in revenue or profitability. The primary disclosure is the calculation of share counts used for EPS, noting the inclusion of Operating Partnership Units (OP Units) and the dilutive effect of ATM forward equity offerings.
Guidance, Outlook, and Risks
Management Commentary: The Company utilized the treasury stock method to account for potential dilution from forward equity offerings prior to settlement.
Guidance and Risks: The filing text does not provide forward-looking guidance, risk factors, or contingencies beyond the standard disclosure of share count mechanics.
Investor Verification Checklist
- Verify the final EPS figures in the upcoming 10-Q filing to confirm the application of these share counts.
- Review the settlement status of the ATM forward equity offerings mentioned in the dilution calculation.
- Confirm the total number of Operating Partnership Units (OP Units) outstanding remains consistent with prior reports (347,619).