ROYAL
OAK, Mich., Oct. 18,
2023 /PRNewswire/ -- Agree Realty Corporation (NYSE:
ADC) (the "Company") today announced that MSCI, one of the world's
largest providers of indices for tracking companies according to
environmental, social and governance ("ESG") criteria, upgraded
ADC's MSCI ESG Rating from B to BBB. The upgrade of ADC's ESG
Rating is driven by improvements in the Company's governance and
business ethics practices and disclosures.
The upgrade follows the recent improvement in the Company's
GRESB Public Disclosure Score from D to B, as well as the receipt
of Gold Level recognition from Green Lease Leaders earlier this
year.
"I'm very pleased that MSCI has upgraded our ESG Rating," said
Peter Coughenour, Chief Financial
Officer. "This upgrade, along with the recent improvement in our
GRESB Public Disclosure Score and Gold Level recognition from Green
Lease Leaders, is a testament to the significant progress that we
have made on our ESG objectives. I would like to thank the ESG
Steering Committee and our team for their continued efforts to
advance our ESG initiatives. We believe these efforts will create
long-term value for all our stakeholders."
About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate
investment trust that is RETHINKING RETAIL
through the acquisition and development of properties net leased to
industry-leading, omni-channel retail tenants. As of June 30, 2023, the Company owned and operated a
portfolio of 2,004 properties, located in 49 states and containing
approximately 41.7 million square feet of gross leasable area. The
Company's common stock is listed on the New York Stock Exchange
under the symbol "ADC". For additional information on the Company
and RETHINKING RETAIL, please visit
www.agreerealty.com.
Forward-Looking Statements
This press release may contain forward-looking statements,
including statements about the future impact of the Company's
current ESG initiatives, within the meaning of Section 27A of the
Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. The Company intends
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 and includes this
statement for purposes of complying with these safe harbor
provisions. Forward-looking statements are generally identifiable
by use of forward-looking terminology such as "may," "will,"
"should," "potential," "intend," "expect," "seek," "anticipate,"
"estimate," "approximately," "believe," "could," "project,"
"predict," "forecast," "continue," "assume," "plan," "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 or
other forward-looking information.
Although these forward-looking statements are based on good
faith beliefs, reasonable assumptions and the Company's best
judgment reflecting current information, you should not rely on
forward-looking statements since they involve known and unknown
risks, uncertainties and other factors which are, in some cases,
beyond the Company's control and which could materially affect the
Company's results of operations, financial condition, cash flows,
performance or future achievements or events. Such risks and
uncertainties include the risks noted in reports that we file with
the U.S. Securities and Exchange Commission (the "SEC"), including
the Risk Factors identified in our Annual Report on Form 10-K for
the year ended December 31, 2022, as
well as additional factors we may describe from time to time in
other filings with the SEC. Additional important factors, among
others, that may cause the Company's actual results to vary include
the general deterioration in national economic conditions,
weakening of real estate markets, decreases in the availability of
credit, increases in interest rates, adverse changes in the retail
industry and the Company's continuing ability to qualify as a REIT.
The forward-looking statements included in this press release are
made as of the date hereof. Unless legally required, the Company
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events, changes in
the Company's expectations or assumptions or otherwise.
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SOURCE Agree Realty Corporation
