Debt LevelsADC’s net debt compared to recurring earnings before interest, taxes, depreciation, and amortization has increased.
Share DilutionHigher share count dilution due to the treasury stock account on their forward equity balance is likely to mostly offset the lease termination fee impact.
Tenant QualityExposure to investment-grade rated tenants decreased to 67.5%, driven by fewer acquisitions of high-quality tenants.