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Agree Reports 2Q FFO, Revenue Increases

FARMINGTON HILLS, MI-The retail owner and developer reports increases in revenues and funds from operations for the second quarter as well as the first six months of the year.

By Robert Carr | Updated on July 26, 2001

FARMINGTON HILLS, MI-Agree Realty Corp. reports second-quarter funds from operations were up 6.1% to $3,198,000 while revenues increased 5.4% to $6,119,000. Net income was $2,014,000, or $0.46 per share on a diluted basis, up from $0.40 per share.

For the six months ended June 30, 2001, funds from operations were up 5.4% to $6,330,000. Total revenues increased 5.89% to $12,301,000 for the comparable period last year.

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