Agree Realty Maintaining Acquisition Discipline During Period of Price Discovery

Joey Agree, president and CEO of Agree Realty Corp. (NYSE: ADC), participated in a video interview at Nareit’s REITweek: 2023 Investor Conference, held in New York June 6-8.

Agree commented on the acquisition landscape in which the REIT is operating today, the evolution of Agree Realty’s three external growth platforms and how it positions the company, as well as broader macro trends Agree will be paying closest attention to for the remainder of 2023.

• Although the market is in a period of price discovery right now, Agree Realty is finding transactions “that fit within our sandbox” and is maintaining acquisition discipline. “It’s a large fragmented space today but we’re seeing movement.”
• Agree Realty’s three external growth platforms—development, acquisitions, and Partner Capital Solutions—all focus on the same tenants that the REIT targets, namely the top 30-35 retailers in the country.
• For the remainder of the year, the focus will be on gaining “clarity and transparency” in terms of where the interest rate environment and the macroeconomy settle.