10-Q Filing

AGREE REALTY CORP CIK: 917251 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001144204-12-042859`
Period End Date	20120630
Filing Date	20120803
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	adc-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 106 Income Statement 129 Cash Flow Statement 78 Stockholders Equity 9

Balance Sheet 106 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable (in dollars)	`AllowanceForDoubtfulAccountsReceivable`	$35.00K	USD	Point-in-time
Allowance for doubtful accounts receivable (in dollars)	`AllowanceForDoubtfulAccountsReceivable`	$35.00K	USD	Point-in-time
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$5.96M	USD	Point-in-time
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$5.71M	USD	Point-in-time
Land	`Land`	$117.45M	USD	Point-in-time
Land	`Land`	$108.67M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$1.26M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$1.21M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$221.06M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$229.82M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$65.33M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$569.74K	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$68.59M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.10M	USD	Point-in-time
Common stock, par or stated value per share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$269.90M	USD	Point-in-time
Common stock, par or stated value per share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$273.18M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	13.35M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$1.58M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	13.35M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$7.90M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	11.44M	shares	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$281.08M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	9.85M	shares	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$271.48M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	9.85M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$851.86K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$618.49K	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	11.44M	shares	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalents`	$3.28M	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Excess stock par or stated value per share (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	0.00	shares	Point-in-time
Excess stock par or stated value per share (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	0.00	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at June 30, 2012 and December 31, 2011	`AccountsReceivableNet`	$801.68K	USD	Point-in-time
Excess stock shares authorized	`ExcessStockSharesAuthorized`	6.50M	shares	Point-in-time
Excess stock shares authorized	`ExcessStockSharesAuthorized`	6.50M	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at June 30, 2012 and December 31, 2011	`AccountsReceivableNet`	$761.19K	USD	Point-in-time
Excess stock shares issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Excess stock shares issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Financing costs, net of accumulated amortization of $5,956,187 and $5,707,043 at June 30, 2012 and December 31, 2011, respectively	`DeferredFinanceCostsNet`	$1.80M	USD	Point-in-time
Excess stock shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Financing costs, net of accumulated amortization of $5,956,187 and $5,707,043 at June 30, 2012 and December 31, 2011, respectively	`DeferredFinanceCostsNet`	$1.65M	USD	Point-in-time
Excess stock shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, par or stated value per share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Leasing costs, net of accumulated amortization of $1,257,686 and $1,205,985 at June 30, 2012 and December 31, 2011, respectively	`DeferredCostsLeasingNet`	$737.97K	USD	Point-in-time
Preferred stock, par or stated value per share (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Leasing costs, net of accumulated amortization of $1,257,686 and $1,205,985 at June 30, 2012 and December 31, 2011, respectively	`DeferredCostsLeasingNet`	$700.51K	USD	Point-in-time
Lease intangibles costs, net of accumulated amortization of $1,103,275 and $569,737 at June 30, 2012 and December 31, 2011, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$16.15M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	150,000.00	shares	Point-in-time
Lease intangibles costs, net of accumulated amortization of $1,103,275 and $569,737 at June 30, 2012 and December 31, 2011, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$24.71M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	150,000.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$962.97K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$2.28M	USD	Point-in-time
Total Assets	`Assets`	$293.94M	USD	Point-in-time
Total Assets	`Assets`	$315.08M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Mortgages Payable	`SecuredDebt`	$62.85M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$61.79M	USD	Point-in-time
Notes Payable	`NotesPayable`	$44.43M	USD	Point-in-time
Notes Payable	`NotesPayable`	$56.44M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.07M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.08M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.72M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$4.00M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$2.16M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$2.39M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$734.20K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$481.06K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$35.05K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$424.32K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$3.38M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$1.54M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$629.46K	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$1.16M	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilities`	$705.00K	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilities`	$705.00K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$81.17K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$84.28K	USD	Point-in-time
Total Liabilities	`Liabilities`	$131.72M	USD	Point-in-time
Total Liabilities	`Liabilities`	$117.11M	USD	Point-in-time
Common stock, $.0001 par value, 13,350,000 shares authorized, 11,436,044 and 9,851,914 shares issued and outstanding, respectively	`CommonStockValue`	$1.14K	USD	Point-in-time
Common stock, $.0001 par value, 13,350,000 shares authorized, 11,436,044 and 9,851,914 shares issued and outstanding, respectively	`CommonStockValue`	$985.00	USD	Point-in-time
Excess stock, $.0001 par value, 6,500,000 shares authorized, 0 shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Excess stock, $.0001 par value, 6,500,000 shares authorized, 0 shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Series A junior participating preferred stock, $.0001 par value, 150,000 shares authorized, 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Series A junior participating preferred stock, $.0001 par value, 150,000 shares authorized, 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$216.94M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$181.07M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-20.53M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-20.92M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.12M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-606.57K	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$159.55M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$195.29M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.68M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.68M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.22M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.97M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$315.08M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$293.94M	USD	Point-in-time

Income Statement 129 line items

Line Item	Tag	Value	Unit	Period
Other comprehensive income, net	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$-15.49K	USD	2 Qtrs
Other comprehensive income, net	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$-17.11K	USD	1 Quarter
Other comprehensive income, net	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$421.00	USD	2 Qtrs
Other comprehensive income, net	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$-3.73K	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$7.29M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$2.20M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$15.04M	USD	2 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$8.50M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$16.82M	USD	2 Qtrs
Percentage rents	`PercentageRent`	$21.41K	USD	2 Qtrs
Percentage rents	`PercentageRent`	$7.62K	USD	1 Quarter
Percentage rents	`PercentageRent`	$5.35K	USD	1 Quarter
Percentage rents	`PercentageRent`	$22.73K	USD	2 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$673.43K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.35M	USD	2 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$703.19K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.38M	USD	2 Qtrs
Development fee income	`ConstructionRevenue`	-	USD	2 Qtrs
Development fee income	`ConstructionRevenue`	$483.27K	USD	1 Quarter
Development fee income	`ConstructionRevenue`	$894.69K	USD	2 Qtrs
Development fee income	`ConstructionRevenue`	-	USD	1 Quarter
Other income	`OtherIncome`	$27.88K	USD	1 Quarter
Other income	`OtherIncome`	$61.06K	USD	1 Quarter
Other income	`OtherIncome`	$83.55K	USD	2 Qtrs
Other income	`OtherIncome`	$45.10K	USD	2 Qtrs
Total Revenues	`Revenues`	$8.52M	USD	1 Quarter
Total Revenues	`Revenues`	$17.42M	USD	2 Qtrs
Total Revenues	`Revenues`	$18.24M	USD	2 Qtrs
Total Revenues	`Revenues`	$9.24M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$1.16M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$589.96K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$1.18M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$601.65K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$344.40K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$741.77K	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$285.57K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$692.20K	USD	2 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$181.07K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$362.15K	USD	2 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$181.07K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$359.15K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.52M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.43M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.84M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.96M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.80M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.83M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.41M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.40M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$4.29M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$8.47M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$4.05M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$8.05M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$4.94M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$9.77M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$9.37M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$4.47M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$-1.15M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$-2.28M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$-1.06M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$-2.07M	USD	2 Qtrs
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$7.30M	USD	2 Qtrs
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$3.41M	USD	1 Quarter
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$3.80M	USD	1 Quarter
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$7.49M	USD	2 Qtrs
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$1.16M	USD	1 Quarter
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	2 Qtrs
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$2.07M	USD	2 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$415.15K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$1.23M	USD	2 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$132.98K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$271.25K	USD	2 Qtrs
Net Income	`ProfitLoss`	$8.52M	USD	2 Qtrs
Net Income	`ProfitLoss`	$5.09M	USD	1 Quarter
Net Income	`ProfitLoss`	$3.82M	USD	1 Quarter
Net Income	`ProfitLoss`	$9.83M	USD	2 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$150.24K	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$295.80K	USD	2 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$130.21K	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$290.45K	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$9.54M	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.94M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$8.23M	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$3.69M	USD	1 Quarter
Other comprehensive income, net of $(17,108), $(3,733), $(15,487) and $421 attributable to non-controlling interest, respectively	`OtherComprehensiveIncomeLossNetOfTax`	$-562.83K	USD	1 Quarter
Other comprehensive income, net of $(17,108), $(3,733), $(15,487) and $421 attributable to non-controlling interest, respectively	`OtherComprehensiveIncomeLossNetOfTax`	$-511.66K	USD	2 Qtrs
Other comprehensive income, net of $(17,108), $(3,733), $(15,487) and $421 attributable to non-controlling interest, respectively	`OtherComprehensiveIncomeLossNetOfTax`	$11.92K	USD	2 Qtrs
Other comprehensive income, net of $(17,108), $(3,733), $(15,487) and $421 attributable to non-controlling interest, respectively	`OtherComprehensiveIncomeLossNetOfTax`	$-105.73K	USD	1 Quarter
Total Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$4.38M	USD	1 Quarter
Total Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$8.24M	USD	2 Qtrs
Total Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$3.59M	USD	1 Quarter
Total Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$9.02M	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.34	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.66	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.74	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.33	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.11	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.04	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.12	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.21	USD	2 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.86	USD	2 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.87	USD	2 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.44	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.33	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.34	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.66	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.73	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.04	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.11	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.21	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.12	USD	2 Qtrs
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.87	USD	2 Qtrs
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.85	USD	2 Qtrs
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.44	USD	1 Quarter
Dividends Declared Per Share	`CommonStockDividendsPerShareDeclared`	$0.80	USD	2 Qtrs
Dividends Declared Per Share	`CommonStockDividendsPerShareDeclared`	$0.80	USD	2 Qtrs
Dividends Declared Per Share	`CommonStockDividendsPerShareDeclared`	$0.40	USD	1 Quarter
Dividends Declared Per Share	`CommonStockDividendsPerShareDeclared`	$0.40	USD	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.18M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.63M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.63M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.95M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.66M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.66M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.21M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.99M	shares	2 Qtrs

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$8.52M	USD	2 Qtrs
Net income	`ProfitLoss`	$5.09M	USD	1 Quarter
Net income	`ProfitLoss`	$3.82M	USD	1 Quarter
Net income	`ProfitLoss`	$9.83M	USD	2 Qtrs
Depreciation	`Depreciation`	$2.91M	USD	2 Qtrs
Depreciation	`Depreciation`	$2.99M	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$849.66K	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$387.32K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$718.71K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$824.00K	USD	2 Qtrs
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$1.16M	USD	1 Quarter
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	2 Qtrs
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$2.07M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.34M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$40.49K	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$109.00K	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.32M	USD	2 Qtrs
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.83M	USD	2 Qtrs
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$211.56K	USD	2 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-231.69K	USD	2 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-344.77K	USD	2 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-253.14K	USD	2 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$52.06K	USD	2 Qtrs
Decrease in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-3.10K	USD	2 Qtrs
Decrease in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$3.17K	USD	2 Qtrs
Net Cash Provided by (Used In) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$11.31M	USD	2 Qtrs
Net Cash Provided by (Used In) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$8.76M	USD	2 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireProductiveAssets`	$25.57M	USD	2 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireProductiveAssets`	$4.22M	USD	2 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$14.24K	USD	2 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$36.76K	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$6.52M	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$6.54M	USD	2 Qtrs
Increase in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	2 Qtrs
Increase in restricted cash	`IncreaseDecreaseInRestrictedCash`	$3.28M	USD	2 Qtrs
Net Cash Provided by (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$2.26M	USD	2 Qtrs
Net Cash Provided by (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.33M	USD	2 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$35.04M	USD	2 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$35.00M	USD	1 Quarter
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$16.91M	USD	2 Qtrs
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$35.06M	USD	2 Qtrs
Line-of-credit repayments	`RepaymentsOfLinesOfCredit`	$47.07M	USD	2 Qtrs
Line-of-credit repayments	`RepaymentsOfLinesOfCredit`	$17.96M	USD	2 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$2.73M	USD	2 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$1.53M	USD	2 Qtrs
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$9.24M	USD	2 Qtrs
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$8.79M	USD	2 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$424.32K	USD	2 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$286.08K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$105.40K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$11.03K	USD	2 Qtrs
Net Cash Provided by (Used In) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.31M	USD	2 Qtrs
Net Cash Provided by (Used In) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$12.18M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.38M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$258.58K	USD	2 Qtrs
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$851.86K	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$618.49K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$851.86K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$618.49K	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$2.27M	USD	2 Qtrs
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$2.33M	USD	2 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.17M	USD	2 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.18M	USD	2 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableCurrentAndNoncurrent`	$4.07M	USD	Point-in-time
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableCurrentAndNoncurrent`	$4.08M	USD	Point-in-time
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableCurrentAndNoncurrent`	$4.72M	USD	Point-in-time
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$35.05K	USD	2 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$456.16K	USD	2 Qtrs
Forgiveness of mortgage debt	`DebtInstrumentDecreaseForgiveness`	$9.17M	USD	2 Qtrs
Forgiveness of mortgage debt	`DebtInstrumentDecreaseForgiveness`	-	USD	2 Qtrs
Real estate acquisitions financed with debt assumption	`RealEstateAcquisitionsFinancedWithDebtAssumption`	-	USD	2 Qtrs
Real estate acquisitions financed with debt assumption	`RealEstateAcquisitionsFinancedWithDebtAssumption`	$9.64M	USD	2 Qtrs

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.22M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.97M	USD	Point-in-time
Issuance of common stock, net of issuance costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	1.30M	shares	1 Quarter
Net income for the period January 1, 2012 to June 30, 2012	`ProfitLoss`	$8.52M	USD	2 Qtrs
Net income for the period January 1, 2012 to June 30, 2012	`ProfitLoss`	$5.09M	USD	1 Quarter
Net income for the period January 1, 2012 to June 30, 2012	`ProfitLoss`	$3.82M	USD	1 Quarter
Net income for the period January 1, 2012 to June 30, 2012	`ProfitLoss`	$9.83M	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.22M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.97M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.