Agree Realty Corp

-15.44%

Live  

Agree Realty Corp. is a real estate investment trust (REIT) that specializes in acquiring and developing net-leased retail properties. The company was founded in 1971 and is headquartered in Bloomfield Hills, Michigan. They focus primarily on properties that are anchored by nationally recognized retailers.
Agree Realty owns and manages a diverse portfolio of properties across the United States, including single tenant and multi-tenant properties, as well as ground leases. Their properties are typically occupied by tenants in the retail, banking, and restaurant industries.
The company's mission is to provide stable and growing returns to their shareholders through disciplined portfolio management and a strong balance sheet. They are committed to maintaining a conservative financial profile and to making strategic investments for long-term success.
Agree Realty has a track record of strong financial performance, with consistent growth in funds from operations (FFO) and a solid dividend history. They are also dedicated to sustainability and environmental responsibility, with a focus on reducing energy consumption and enhancing the efficiency of their properties.
Overall, Agree Realty Corp. is a well-established and financially sound company with a strong focus on long-term growth and sustainability in the retail real estate industry.

MS4gRm9jdX Mgb24gU2lu Z2xlLVRlbm FudCBOZXQg TGVhc2UgUH JvcGVydGll czogQWdyZW UgUmVhbHR5 IENvcnAuIG lzIHByaW1h cmlseSBmb2 N1c2VkIG9u IGFjcXVpcm luZyBhbmQg ZGV2ZWxvcG luZyBzaW5n bGUtdGVuYW 50IG5ldCBs ZWFzZSBwcm 9wZXJ0aWVz LCB3aGljaC Bwcm92aWRl IGxvbmctdG VybSBzdGFi bGUgaW5jb2 1lLCB0eXBp Y2FsbHkgd2 l0aCBsb25n LXRlcm0gbG Vhc2VzIGFu ZCBidWlsdC 1pbiByZW50 IGluY3JlYX Nlcy48YnI+ Mi4gRGl2ZX JzaWZpZWQg UG9ydGZvbG lvOiBUaGUg Y29tcGFueS BoYXMgYSBk aXZlcnNlIH BvcnRmb2xp byBvZiBwcm 9wZXJ0aWVz IGFjcm9zcy B2YXJpb3Vz IGluZHVzdH JpZXMsIGlu Y2x1ZGluZy ByZXRhaWws IGF1dG9tb3 RpdmUsIGNv bnZlbmllbm NlIHN0b3Jl cywgYW5kIG hlYWx0aGNh cmUsIHJlZH VjaW5nIGl0 cyByZWxpYW 5jZSBvbiBh bnkgc2luZ2 xlIHNlY3Rv ci48YnI+My 4gRW1waGFz aXMgb24gSG lnaC1RdWFs aXR5IFRlbm FudHM6IEFn cmVlIFJlYW x0eSBDb3Jw LiBoYXMgYS BzdHJpY3Qg dGVuYW50IH NlbGVjdGlv biBwcm9jZX NzLCBmb2N1 c2luZyBvbi BoaWdoLXF1 YWxpdHkgYW 5kIGNyZWRp dHdvcnRoeS B0ZW5hbnRz IHRvIHJlZH VjZSB0aGUg cmlzayBvZi BkZWZhdWx0 IGFuZCBlbn N1cmUgY29u c2lzdGVudC ByZW50YWwg aW5jb21lLj xicj40LiBT dHJvbmcgRm luYW5jaWFs IFBlcmZvcm 1hbmNlOiBU aGUgY29tcG FueSBoYXMg YSB0cmFjay ByZWNvcmQg b2Ygc3Ryb2 5nIGZpbmFu Y2lhbCBwZX Jmb3JtYW5j ZSwgd2l0aC Bjb25zaXN0 ZW50IHJldm VudWUgZ3Jv d3RoIGFuZC Bwcm9maXRh YmlsaXR5LC BnaXZpbmcg aW52ZXN0b3 JzIGNvbmZp ZGVuY2UgaW 4gaXRzIHN0 YWJpbGl0eS BhbmQgcG90 ZW50aWFsIG ZvciBmdXR1 cmUgZ3Jvd3 RoLjxicj41 LiBFeHBlcm llbmNlZCBN YW5hZ2VtZW 50IFRlYW06 IFRoZSBjb2 1wYW55J3Mg bWFuYWdlbW VudCB0ZWFt IGhhcyBleH RlbnNpdmUg ZXhwZXJpZW 5jZSBpbiB0 aGUgcmVhbC Blc3RhdGUg YW5kIHJldG FpbCBpbmR1 c3RyaWVzLC Bwcm92aWRp bmcgc3Ryb2 5nIGxlYWRl cnNoaXAgYW 5kIHN0cmF0 ZWdpYyBkZW Npc2lvbi1t YWtpbmcgZm 9yIHRoZSBj b21wYW55Lj xicj42LiBT dXN0YWluYW JsZSBhbmQg UmVzcG9uc2 libGUgUHJh Y3RpY2VzOi BBZ3JlZSBS ZWFsdHkgQ2 9ycC4gaXMg Y29tbWl0dG VkIHRvIHN1 c3RhaW5hYm lsaXR5IGFu ZCByZXNwb2 5zaWJsZSBi dXNpbmVzcy BwcmFjdGlj ZXMuIEl0IG hhcyBpbXBs ZW1lbnRlZC B2YXJpb3Vz IGVuZXJneS 1lZmZpY2ll bnQgYW5kIG Vudmlyb25t ZW50YWxseS BmcmllbmRs eSBtZWFzdX JlcyBpbiBp dHMgcHJvcG VydGllcyBh bmQgaGFzIG JlZW4gcmVj b2duaXplZC Bmb3IgaXRz IGNvbW1pdG 1lbnQgdG8g Y29ycG9yYX RlIHJlc3Bv bnNpYmlsaX R5Ljxicj43 LiBJbnZlc3 Rvci1Gcmll bmRseSBEaX ZpZGVuZCBQ b2xpY3k6IF RoZSBjb21w YW55IGhhcy BhIGhpc3Rv cnkgb2YgaW 5jcmVhc2lu ZyBpdHMgZG l2aWRlbmQg ZWFjaCB5ZW FyLCBwcm92 aWRpbmcgYS BzdGVhZHkg c3RyZWFtIG 9mIGluY29t ZSBmb3IgaW 52ZXN0b3Jz LiBJdCBhbH NvIGhhcyBh IHN0cm9uZy BiYWxhbmNl IHNoZWV0IG FuZCBpcyBj b21taXR0ZW QgdG8gbWFp bnRhaW5pbm cgYSBjb25z ZXJ2YXRpdm UgcGF5b3V0 IHJhdGlvLj xicj44LiBD b25zaXN0ZW 50IEdyb3d0 aCBTdHJhdG VneTogQWdy ZWUgUmVhbH R5IENvcnAu IGhhcyBhIG Rpc2NpcGxp bmVkIGFuZC Bjb25zZXJ2 YXRpdmUgYW NxdWlzaXRp b24gYW5kIG RldmVsb3Bt ZW50IHN0cm F0ZWd5LCBm b2N1c2luZy BvbiBoaWdo LXF1YWxpdH kgcHJvcGVy dGllcyBpbi BzdHJvbmcg bWFya2V0cy wgd2hpY2gg aGFzIHJlc3 VsdGVkIGlu IGNvbnNpc3 RlbnQgZ3Jv d3RoIG92ZX IgdGhlIHll YXJzLjxicj 45LiBTdHJv bmcgQ29ycG 9yYXRlIEN1 bHR1cmU6IF RoZSBjb21w YW55IGZvY3 VzZXMgb24g YnVpbGRpbm cgYSBzdHJv bmcgY29ycG 9yYXRlIGN1 bHR1cmUsIG VtcGhhc2l6 aW5nIHRlYW 13b3JrLCBp bnRlZ3JpdH ksIGFuZCBl eGNlbGxlbm NlLiBUaGlz IGhhcyByZX N1bHRlZCBp biBoaWdoIG VtcGxveWVl IHNhdGlzZm FjdGlvbiBh bmQgcmV0ZW 50aW9uLCB3 aGljaCB0cm Fuc2xhdGVz IGludG8gZW ZmaWNpZW50 IGFuZCBlZm ZlY3RpdmUg b3BlcmF0aW 9ucy48YnI+ MTAuIENvbW 1pdG1lbnQg dG8gU2hhcm Vob2xkZXIg VmFsdWU6IE FncmVlIFJl YWx0eSBDb3 JwLiBpcyBj b21taXR0ZW QgdG8gY3Jl YXRpbmcgdm FsdWUgZm9y IGl0cyBzaG FyZWhvbGRl cnMuIEl0cy BzdHJvbmcg ZmluYW5jaW FsIHBlcmZv cm1hbmNlLC Bjb25zaXN0 ZW50IGdyb3 d0aCwgYW5k IGF0dHJhY3 RpdmUgZGl2 aWRlbmQgeW llbGQgbWFr ZSBpdCBhbi BhdHRyYWN0 aXZlIGludm VzdG1lbnQg b3B0aW9uIG ZvciBzaGFy ZWhvbGRlcn Mu

VGhlIEFncm VlIFJlYWx0 eSBDb3JwLi Bjb21wYW55 IGlzIGEgcm VhbCBlc3Rh dGUgaW52ZX N0bWVudCB0 cnVzdCAoUk VJVCkgdGhh dCBmb2N1c2 VzIG9uIGFj cXVpcmluZy BhbmQgZGV2 ZWxvcGluZy BzaW5nbGUt dGVuYW50IH JldGFpbCBw cm9wZXJ0aW VzLiBUaGVp ciBidXNpbm VzcyBtb2Rl bCBpcyBiYX NlZCBvbiBn ZW5lcmF0aW 5nIGluY29t ZSB0aHJvdW doIGxvbmct dGVybSwgdH JpcGxlLW5l dCBsZWFzZX Mgd2l0aCBo aWdoLXF1YW xpdHksIGlu dmVzdG1lbn QtZ3JhZGUg dGVuYW50cy 4gVGhleSBh bHNvIGFpbS B0byBwcm92 aWRlIHN0YW JsZSBhbmQg Z3Jvd2luZy ByZXR1cm5z IHRvIHNoYX JlaG9sZGVy cyB0aHJvdW doIHN0cmF0 ZWdpYyBhY3 F1aXNpdGlv bnMsIHByb2 FjdGl2ZSBh c3NldCBtYW 5hZ2VtZW50 LCBhbmQgZG lzY2lwbGlu ZWQgY2FwaX RhbCBhbGxv Y2F0aW9uLi BBZGRpdGlv bmFsbHksIE FncmVlIFJl YWx0eSBDb3 JwLiBzZWVr cyB0byBtYW ludGFpbiBh IGNvbnNlcn ZhdGl2ZSBi YWxhbmNlIH NoZWV0IGFu ZCBzdHJvbm cgY3JlZGl0 IHJhdGluZ3 MgaW4gb3Jk ZXIgdG8gYW NjZXNzIGNh cGl0YWwgYX QgZmF2b3Jh YmxlIHJhdG VzIGZvciBm dXR1cmUgZ3 Jvd3RoIG9w cG9ydHVuaX RpZXMu

Agree Realty Corp is a real estate investment trust (REIT) primarily focused on retail properties. The sensitivity of its earnings, cash flow, and valuation to changes in interest rates can be significant due to several factors inherent to the real estate sector and the nature of REITs.
1. Earnings: The company’s earnings can be affected by interest rates through financing costs. If interest rates rise, the cost of borrowing increases, impacting the expenses associated with property acquisitions and development. This could lead to reduced net income if the additional costs cannot be passed on to tenants or if they negatively affect occupancy rates.
2. Cash Flow: Cash flow is crucial for REITs, as they are required to distribute a significant portion of their income to shareholders in the form of dividends. Higher interest rates can lead to increased borrowing costs and can also affect tenant sales and rent payments if rising rates slow down economic growth. Conversely, if rates rise significantly, it could lead to depreciation in property values, affecting cash flows from asset sales or refinancing opportunities.
3. Valuation: The valuation of Agree Realty can be heavily influenced by interest rates through the capitalization rate used in property valuation. Higher interest rates typically lead to higher cap rates, which generally decrease the market value of properties. Investors may demand higher returns on investment in a higher interest rate environment, which can negatively impact the stock price and overall market valuation of the REIT.
Overall, while Agree Realty may be well-positioned due to its focus on essential retail and strong tenant relationships, changes in interest rates could have material effects on its earnings, cash flow, and market valuation. Monitoring interest rate trends is essential for assessing the potential impact on the company’s financial performance.

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvdT JCUmFPVGNu aVN5dlFWMW s5V3Yud2Vi cCIgYWx0PS JBZ3JlZSBS ZWFsdHkgQ2 9ycCIgdGl0 bGU9IkFncm VlIFJlYWx0 eSBDb3JwIi AgY2xhc3M9 ImltZy1mbH VpZCIgaGVp Z2h0PTkwIH dpZHRoPTkw IGxvYWRpbm c9J2xhenkn IHN0eWxlPS dib3JkZXIt cmFkaXVzOi A2cHg7Jz4K CiAgICAgIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nZmxleD ogMTsgdGV4 dC1hbGlnbj ogY2VudGVy OyBtYXJnaW 4tbGVmdDog NXB4Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IDxwIHN0eW xlPSdmb250 LXNpemU6ID I2cHg7IGNv bG9yOiAjMz MzOyBtYXJn aW4tYm90dG 9tOiAxNXB4 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICDwn5OIIF dhbnQgdG8g cmVhZCBtb3 JlIGFib3V0 IEFncmVlIF JlYWx0eSBD b3JwPwogIC AgICAgICAg ICAgICAgIC AgICAgICA8 L3A+CgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 YSBocmVmPS dpbmRleC5w aHA/cGFnZT 1zaWdudXAn IHN0eWxlPS cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG JhY2tncm91 bmQtY29sb3 I6ICMwMDdC RkY7CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBjb2xvcj ogI2ZmZjsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIHBh ZGRpbmc6ID EwcHggMjBw eDsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGJvcmRlci 1yYWRpdXM6 IDVweDsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIHRleH QtZGVjb3Jh dGlvbjogbm 9uZTsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGZvbnQt d2VpZ2h0Oi Bib2xkOwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgbWFy Z2luLXJpZ2 h0OiAxMHB4 OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg dHJhbnNpdG lvbjogYmFj a2dyb3VuZC 1jb2xvciAw LjNzIGVhc2 U7JwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Agb25tb3Vz ZW92ZXI9J3 RoaXMuc3R5 bGUuYmFja2 dyb3VuZENv bG9yPSIjMD A1NmIzIicK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIG9u bW91c2VvdX Q9J3RoaXMu c3R5bGUuYm Fja2dyb3Vu ZENvbG9yPS IjMDA3QkZG Iic+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBTaWduIH VwIGZvciBm cmVlCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv YT4KCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxz cGFuIHN0eW xlPSdtYXJn aW46IDAgOH B4OyBjb2xv cjogIzU1NT snPm9yPC9z cGFuPgoKIC AgICAgICAg ICAgICAgIC AgICAgICAg PGEgaHJlZj 0naW5kZXgu cGhwP3BhZ2 U9bG9naW4n IHN0eWxlPS cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG NvbG9yOiAj MDA3QkZGOw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgdG V4dC1kZWNv cmF0aW9uOi B1bmRlcmxp bmU7CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBmb250LX dlaWdodDog NTAwOyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBsb2 cgaW4KICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9hPgoKCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xwIHN0eWxl PSdtYXJnaW 4tdG9wOiAx NXB4OyBmb2 50LXNpemU6 IDEzcHg7IG ZvbnQtd2Vp Z2h0OiBib2 xkOyBjb2xv cjogI2QzMm YyZjsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAg4pyN 77iPIFNpZ2 4gdXAgdG8g Z2V0IDxpPi JUaGUgQ2hl Y2tsaXN0IF ZhbHVlIElu dmVzdG9yIO KAlCBBIFNt YXJ0ZXIgV2 F5IHRvIFBp Y2sgU3RvY2 tzIjwvaT4g Zm9yIGZyZW UKICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9wPg oKICAgICAg ICAgICAgIC AgICAgICAg ICAgPCEtLQ ogICAgICAg ICAgICAgIC AgICAgICAg ICA8ZGl2IH N0eWxlPSdt YXJnaW4tdG 9wOiAxMnB4 OyBmb250LX NpemU6IDEz cHg7IGNvbG 9yOiAjNDQ0 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBTaWduIH VwIG5vdyBh bmQgZ2V0IG 91ciBmcmVl IGVCb29rIA ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgPG I+VGhlIENo ZWNrbGlzdC BWYWx1ZSBJ bnZlc3Rvci DigJQgQSBT bWFydGVyIF dheSB0byBQ aWNrIFN0b2 NrczwvYj4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9kaXY+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIC0tPgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8IS0tCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xkaXYgc3R5 bGU9J21hcm dpbi10b3A6 IDE2cHg7IG ZvbnQtc2l6 ZTogMTRweD sgY29sb3I6 ICM0NDQ7IG ZvbnQtZmFt aWx5OiAtYX BwbGUtc3lz dGVtLCBCbG lua01hY1N5 c3RlbUZvbn QsIFNlZ29l IFVJLCBSb2 JvdG8sIEhl bHZldGljYS BOZXVlLCBz YW5zLXNlcm lmOyBsaW5l LWhlaWdodD ogMS42Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBI YXZlIHlvdS BoZWFyZCBh Ym91dCBvdX Igc2hvcnQg PHN0cm9uZy BzdHlsZT0n Zm9udC13ZW lnaHQ6IDYw MDsnPkRhaW x5IFZpZGVv IE5ld3NsZX R0ZXI8L3N0 cm9uZz4/Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICA8YS BocmVmPSdo dHRwczovL3 d3dy5pbnNp Z2h0ZnVsdm FsdWUuY29t L25ld3NsZX R0ZXIucGhw JyB0YXJnZX Q9J19ibGFu aycgc3R5bG U9J2NvbG9y OiAjMDA3Qk ZGOyB0ZXh0 LWRlY29yYX Rpb246IG5v bmU7IGZvbn Qtd2VpZ2h0 OiA1MDA7IG 1hcmdpbi1s ZWZ0OiA2cH g7Jz4KICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBG aW5kIG91dC Btb3JlCiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICA8L2E+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvZGl2 PgogICAgIC AgICAgICAg ICAgICAgIC AgICAtLT4K ICAgICAgIC AgICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICA8L2Rpdj 4KICAgICAg ICAgICAgCi AgICAgICAg CiAgICAgIC AgPHNwYW4g Y2xhc3M9J2 JsdXJyZWQt dGV4dCc+Ci AgICAgICAg ICAgIE1TNG dRV2R5Wlcg VWdVbVZoYk hSNSBJRU52 Y25BdUlHIG x6SUdFZ2Nt VmggYkNCbG MzUmhkRyBV Z2FXNTJaWE 4wIGJXVnVk Q0IwY24gVn pkQ0FvVWtW SiBWQ2tnZE doaGRDIEJ6 Y0dWamFXRn MgYVhwbGN5 QnBiaSBCaF kzRjFhWEpw IGJtY2dZVz VrSUcgUmxk bVZzYjNCcC BibWNnY21W MFlXIGxzSU hCeWIzQmwg Y25ScFpYTX VQRyBKeVBq SXVJRlJvIF pTQmpiMjF3 WVcgNTVJSG RoY3lCbSBi M1Z1WkdWa0 lHIGx1SURF NU56RWcgWV c1a0lHbHpJ RyBobFlXUn hkV0Z5IGRH VnlaV1FnYV cgNGdRbXh2 YjIxbSBhV1 ZzWkNCSWFX IHhzY3l3Z1 RXbGogYUds bllXNHVQRy BKeVBqTXVJ RUZuIGNtVm xJRkpsWVcg eDBlU0JEYj NKdyBMaUJq ZFhKeVpXID UwYkhrZ2Iz ZHUgY3lCaG JtUWdiMyBC bGNtRjBaWE 1nIFlTQndi M0owWm0gOX NhVzhnYjJZ ZyBiM1psY2 lBeExEIEF3 TUNCd2NtOX cgWlhKMGFX VnpMQyBCd2 NtbHRZWEpw IGJIa2djMm x1WjIgeGxM WFJsYm1GdS BkQ0J5WlhS aGFXIHdnY0 hKdmNHVnkg ZEdsbGN5Qn NiMiBOaGRH VmtJR2x1IE lEUTFJSE4w WVggUmxjeT Q4WW5JKyBO QzRnVkdobE lHIE52YlhC aGJubmkgZ0 pseklHTnZj bSBVZ2NHaH BiRzl6IGIz Qm9lU0JwY3 kgQjBieUJo WTNGMSBhWE psSUhCeWIz IEJsY25ScF pYTWcgZEdo aGRDQmhjbS BVZ2RtbDBZ V3dnIGRHOG dkR2hsSUcg UmhhV3g1SU d4cCBkbVZ6 SUc5bUlHIE 52Ym5OMWJX VnkgY3l3Z2 MzVmphQyBC aGN5Qm5jbT lqIFpYSjVJ SE4wYjMgSm xjeXdnY0do aCBjbTFoWT JsbGN5IHdn WVc1a0lHOT AgYUdWeUlH VnpjMiBWdW RHbGhiQ0J5 IFpYUmhhV3 dnYzIgVnlk bWxqWlhNdS BQR0p5UGpV dUlFIEZuY2 1WbElGSmwg WVd4MGVTQk RiMyBKd0x1 S0FtWE1nIG NISnZjR1Z5 ZEcgbGxjeU JoY21VZyBi R1ZoYzJWa0 lIIFJ2SUdF Z1pHbDIgWl hKelpTQm5j bSA5MWNDQn ZaaUJvIGFX ZG9MWEYxWV cgeHBkSGtn ZEdWdSBZVz UwY3l3Z2FX IDVqYkhWa2 FXNW4gSUcx aGFtOXlJSC BKbGRHRnBi R1Z5IGN5Qn pkV05vSUcg RnpJRmRoYk cxaCBjblFz SUZSaGNtIG RsZEN3Z1lX NWsgSUVOV1 V5NDhZbiBJ K05pNGdTVz RnIE1qQXhN aXdnUVcgZH laV1VnVW1W aCBiSFI1SU VOdmNuIEF1 SUdKbFkyRn QgWlNCaElI QjFZbSB4cF kyeDVMWFJ5 IFlXUmxaQ0 JqYjIgMXdZ VzU1SUdGdS BaQ0JwY3lC c2FYIE4wWl dRZ2IyNGcg ZEdobElFNW xkeSBCWmIz SnJJRk4wIG IyTnJJRVY0 WTIgaGhibW RsSUhWdSBa R1Z5SUhSb1 pTIEIwYVdO clpYSWcgYz NsdFltOXNJ RSBGRVF5ND hZbkkrIE55 NGdWR2hsSU cgTnZiWEJo Ym5rZyBhR0 Z6SUdFZ2JH IDl1WnlCMG NtRmogYXlC eVpXTnZjbS BRZ2IyWWdh VzVqIGNtVm hjMmx1Wnkg QmthWFpwWk dWdSBaSE1z SUhkcGRHIG dnTWpBeU1T QnQgWVhKcm FXNW5JSCBS b1pTQmpiMj F3IFlXNTU0 b0NaY3kgQX hNblJvSUdO diBibk5sWT NWMGFYIFps SUhsbFlYSW cgYjJZZ1pH bDJhVyBSbG JtUWdhVzVq IGNtVmhjMl Z6TGogeGlj ajQ0TGlCQi BaM0psWlNC U1pXIEZzZE hrZ1EyOXkg Y0M0Z2FHRn pJRyBFZ2Mz UnliMjVuIE lHTnZiVzFw ZEcgMWxibl FnZEc4ZyBj M1Z6ZEdGcG JtIEZpYVd4 cGRIa2cgWV c1a0lHaGhj eSBCeVpXTm xhWFpsIFpD QnRkV3gwYV ggQnNaU0Jo ZDJGeSBaSE 1nWm05eUlH IGwwY3lCbG JuWnAgY205 dWJXVnVkRy BGc2JIa3Ra bkpwIFpXNW tiSGtnY0gg SmhZM1JwWT JWeiBJR2x1 SUhSb1pTIE J5WldGc0lH VnogZEdGMF pTQnBibSBS MWMzUnllUz Q4IFluSStP UzRnVkcgaG xJR052YlhC aCBibmtnYU dGeklHIE52 Ym5OcGMzUm wgYm5Sc2VT QmlaVyBWdU lISmxZMjlu IGJtbDZaV1 FnWm0gOXlJ R2wwY3lCdy BaWEptYjNK dFlXIDVqWl NCaGJtUWcg YjNCbGNtRj BhVyA5dWN5 d2daMkZ5IG JtVnlhVzVu SUcgRmpZMj lzWVdSbCBj eUJ6ZFdOb0 lHIEZ6SUdK bGFXNW4gSU c1aGJXVmtJ RyA5dVpTQn ZaaUJHIGIz SmlaWFBpZ0 oga2dNakF5 TVNCQyBaWE 4wSUZOdFlX IHhzSUVOdm JYQmggYm1s bGN5d2dZVy A1a0lISmxZ MlZwIGRtbH VaeUJoYmkg Qk9RVkpGU1 ZRZyBNakF5 TVNCTVpXIE ZrWlhJZ2FX NGcgZEdobE lFeHBaMiBo MElFRjNZWE prIElHWnZj aUJwZEggTW djM1Z6ZEdG cCBibUZpYV d4cGRIIGtn YVc1cGRHbG ggZEdsMlpY TXVQRyBKeV BqRXdMaUJK IGJpQmhaR1 JwZEcgbHZi aUIwYnlCcC BkSE1nY21W MFlXIGxzSU hCdmNuUm0g YjJ4cGJ5d2 dRVyBkeVpX VWdVbVZoIG JIUjVJRU52 Y24gQXVJR2 hoY3lCaCBi SE52SUdWNG NHIEZ1WkdW a0lHbHUgZE c4Z2IzUm9a WCBJZ2MyVm pkRzl5IGN5 d2dhVzVqYk ggVmthVzVu SUdsdSBaSF Z6ZEhKcFlX IHdnY0hKdm NHVnkgZEds bGN5QmhibS BRZ2JXbDRa V1F0IGRYTm xJR1JsZG0g VnNiM0J0Wl c1MCBjeTQ9 CiAgICAgIC AgPC9zcGFu PgogICAgIC AgIAogICAg ICAgIA==
See Company Q&A