Agree Realty Corporation will release its second quarter 2026 operating results after the market closes on Thursday, July 30, 2026. The company has scheduled a conference call to discuss these financial results for Friday, July 31, 2026, at 10:00 AM ET. This announcement provides shareholders and interested parties with the timing for accessing the company's performance data for the quarter.

Participants can join the conference call via teleconference or live webcast. The teleconference options include a USA toll-free number and an international line, requiring a specific Conference ID for access. The webcast will be available through a dedicated link and the company's investor relations website.

Conference Call Details

The company advises participants to dial in or log on at least five minutes prior to the scheduled start time. A live webcast of the call will also be accessible through the Investors section of the Agree Realty Corporation website. Following the event, a replay of the conference call webcast will be archived and available online in the same section.

About Agree Realty Corporation

Agree Realty Corporation is a publicly traded real estate investment trust listed on the New York Stock Exchange under the symbol "ADC". As of March 31, 2026, the company owned and operated a portfolio of 2,756 properties located in all 50 states, containing approximately 57.5 million square feet of gross leasable area. The company focuses on the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants.

Agree Realty and Global Net Lease operate in the same sector, owning single-tenant properties on long-term, triple-net leases, yet they offer significantly different yields. Agree Realty provides a yield near 4%, backed by robust financial health, while Global Net Lease offers a yield near 8% as it continues to repair its balance sheet. The disparity highlights how the market prices yield based on underlying credit strength and leverage rather than asset class alone.

Agree Realty grew its adjusted funds from operations (AFFO) by 7.9% to $1.14 per share in Q1 2026. The company maintained occupancy at 99.7% and invested approximately $424 million into 100 properties at a 7% cap rate. It raised its monthly dividend to $0.267, an annualized $3.20, marking its 169th consecutive payout. The dividend is covered by a 69% AFFO payout ratio. The company holds an A-/BBB+ issuer rating and a net debt to recurring EBITDA ratio of 3.2x, with no material debt maturities until 2028.

Global Net Lease reported AFFO of $0.21 per share, down from $0.29, on revenue of $109.3 million, down from $132.4 million. The decline followed asset sales aimed at shrinking the balance sheet. The company pays a quarterly dividend of $0.19 and has reduced its net debt by $1.3 billion year-over-year to about $2.4 billion. Leverage stands at 7.2x against a target range of 6.5x–6.9x. Fitch upgraded the company to BBB- in 2025 after significant balance sheet reduction. Its 2026 AFFO guidance of $0.80–$0.84 covers the dividend by approximately 108%.

Credit and Leverage Comparison

The yield spread between the two companies is largely explained by their credit ratings and leverage profiles. Agree Realty holds solidly mid-investment-grade ratings, while Global Net Lease sits at BBB-, the lowest investment-grade rung. Leverage also diverges sharply, with Agree Realty at 3.2x compared to Global Net Lease's 7.2x.

Portfolio Composition and Strategy

Agree Realty derives more than 65% of its base rent from investment-grade tenants and maintains high occupancy. In contrast, Global Net Lease is transitioning its portfolio, exiting office assets and moving into industrial properties through dispositions and an all-stock acquisition of Modiv Industrial. This shift carries execution risk, which is factored into the higher yield.

Global Net Lease's yield has compressed from nearly 15% in 2024 to 8% as its balance sheet has improved. The remaining spread between the two yields reflects the ongoing differences in leverage, coverage, and portfolio stability. Agree Realty's lower yield represents the price of a fortress balance sheet, while Global Net Lease's higher yield compensates for the risks associated with its continued deleveraging and strategic pivot.