Business Context and Reporting Period
Company: Agree Realty Corporation (AGREE REALTY CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: April 2, 2026
Reporting Period: Three months ended March 31, 2026
Event: Announcement of weighted-average number of common shares outstanding for the period.
Key Financial Metrics
This filing focuses exclusively on share count calculations for earnings per share (EPS) purposes. It does not report revenue, profit, cash flow, margins, debt, or liquidity figures.
| Metric | Value |
|---|---|
| Weighted average common shares outstanding | 120,059,357 |
| Less: Unvested restricted shares | (202,939) |
| Basic EPS shares | 119,856,418 |
| Dilutive securities (Share-based comp, ATM, Forward Offerings) | 519,215 |
| Diluted EPS shares (Common only) | 120,375,633 |
| Operating Partnership Units (OP Units) | 347,619 |
| Total diluted shares (Common + OP Units) | 120,723,252 |
Material Changes
The filing does not provide comparative data for the prior period to assess material changes in share counts or financial performance.
Guidance, Outlook, and Risks
Methodology: The Company utilized the treasury stock method to account for potential dilution from forward equity offerings prior to settlement.
Dilution Impact: Forward equity offerings contributed 398,432 weighted-average incremental shares to the diluted share count for the three months ended March 31, 2026.
Outlook/Risks: No specific guidance, management commentary, risks, or contingencies are disclosed in this filing.
Investor Verification Checklist
- Verify the settlement dates and terms of the ATM Forward Equity Offerings and the April 2025 Forward Equity Offering to confirm future dilution.
- Review the full Q1 2026 earnings release for corresponding revenue, FFO, and EPS figures to contextualize the share count data.
- Confirm the status of unvested restricted shares and potential future vesting schedules.
- Check for any subsequent filings regarding the conversion of Operating Partnership Units (OP Units) into common stock.