BLOOMFIELD HILLS, Mich.,
May 11, 2016 /PRNewswire/
-- Agree Realty Corporation (NYSE: ADC) (the "Company") today
announced that it has raised its 2016 acquisition guidance to a new
range of $250 million to $275 million
of high-quality retail net lease properties. The Company's
outlook for acquisition volume in 2016, which assumes continued
growth in economic activity, positive business trends and other
significant assumptions, is being increased from a previous range
of $175 million to $200 million.
"We are pleased to announce we are raising our 2016 acquisition
guidance to reflect increasing confidence in our ability to execute
on our robust acquisition pipeline," said Joey Agree, President and
Chief Executive Officer of Agree Realty Corporation. "Our
pipeline includes a number of exciting opportunities to invest in
terrific real estate that is leased to leading super-regional and
national retailers operating in sectors that we believe are largely
e-commerce and recession resistant."
About Agree Realty Corporation
Agree Realty Corporation is primarily engaged in the acquisition
and development of properties net leased to industry-leading retail
tenants. The Company currently owns and operates a portfolio
of 302 properties, located in 42 states and containing
approximately 5.5 million square feet of gross leasable
space. The common stock of Agree Realty Corporation is listed
on the New York Stock Exchange under the symbol "ADC". For
additional information, visit the Company's home page at
www.agreerealty.com.
Forward-Looking Statements
This press release may contain certain "forward-looking
statements" made pursuant to the safe harbor provisions of the
Private Securities Reform Act of 1995. Forward-looking statements
are generally identifiable by use of forward-looking terminology
such as "may," "will," "should," "potential," "intend," "expect,"
"anticipate," "estimate," "approximately," "believe," "could,"
"project," "predict," "forecast," "continue," "assume," "plan,"
references to "outlook" or other similar words or expressions.
Forward-looking statements are based on certain assumptions and can
include future expectations, future plans and strategies, financial
and operating projections and forecasts and other forward-looking
information and estimates. These forward-looking statements are
subject to various risks and uncertainties, many of which are
beyond the Company's control, which could cause actual results to
differ materially from such statements. These risks and
uncertainties are described in greater detail in the Company's
filings with the Securities and Exchange Commission, including,
without limitation, the Company's Annual Report on Form 10-K for
the year ended December 31, 2015 and
in subsequent quarterly reports. Except as required by law, the
Company disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
For further information about the Company's business and
financial results, please refer to the "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and
"Risk Factors" sections of the Company's SEC filings, including,
but not limited to, its Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, copies of which may be obtained at the Invest
section of the Company's website at
www.agreerealty.com.
All information in this press release is as of May 10, 2016. The Company undertakes no duty to
update the statements in this press release to conform the
statements to actual results or changes in the Company's
expectations.
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SOURCE Agree Realty Corporation