Business Context and Reporting Period
Company: Agree Realty Corporation (AGREE REALTY CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: July 2, 2026
Reporting Period: Three and six months ended June 30, 2026
Event: Disclosure of weighted-average common shares outstanding for earnings per share (EPS) calculations.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity figures. It exclusively details share count metrics used for EPS calculations.
| Metric | Three Months Ended June 30, 2026 |
Six Months Ended June 30, 2026 |
|---|---|---|
| Weighted Average Common Shares Outstanding | 120,204,596 | 120,132,377 |
| Less: Unvested Restricted Shares | (207,652) | (207,652) |
| Basic EPS Shares | 119,996,944 | 119,924,725 |
| Effect of Dilutive Securities (Share-based comp, ATM, Forward Offerings) | 490,312 | 524,414 |
| Diluted EPS Shares (Common Only) | 120,487,256 | 120,449,139 |
| Operating Partnership Units (OP Units) | 347,619 | 347,619 |
| Total Diluted Shares (Common + OP Units) | 120,834,875 | 120,796,758 |
Material Changes and Dilution Impact
- Forward Equity Offerings: The Company utilized the treasury stock method to account for potential dilution from forward equity offerings prior to settlement.
- Incremental Dilution (3 Months): 328,729 weighted-average incremental shares.
- Incremental Dilution (6 Months): 363,582 weighted-average incremental shares.
- Share Count Stability: The weighted average number of common shares outstanding increased slightly from the three-month to the six-month period (120.2M vs 120.1M).
Guidance, Outlook, and Risks
The filing text does not provide guidance, outlook, management commentary on future performance, specific risks, contingencies, or unusual items beyond the standard disclosure of share counts.
Investor Verification Checklist
- Verify the settlement dates and terms of the "ATM Forward Equity Offerings" and "April 2025 Forward Equity Offering" to understand future dilution exposure.
- Confirm the number of unvested restricted shares (207,652) remains consistent with prior filings.
- Review the full quarterly earnings release (10-Q) for the corresponding revenue and net income figures to calculate actual EPS using the share counts provided here.
- Check for any subsequent changes in Operating Partnership Units (OP Units) which were constant at 347,619 in this report.