10-Q Filing

AGREE REALTY CORP CIK: 917251 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001144204-12-059198`
Period End Date	20120930
Filing Date	20121102
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	adc-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 106 Income Statement 137 Cash Flow Statement 84 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
Land	`Land`	$108.67M	USD	Point-in-time
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$5.71M	USD	Point-in-time
Land	`Land`	$124.70M	USD	Point-in-time
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$6.11M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$1.28M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$1.21M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$229.82M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$220.08M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$57.40M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.39M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$68.59M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$569.74K	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$269.90M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$287.38M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$13.60M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	13.35M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.85M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$1.58M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$300.98M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	9.85M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	11.44M	shares	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$271.48M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$886.79K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	11.44M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	9.85M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$542.99K	USD	Point-in-time
Excess stock par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Excess stock par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalents`	$3.28M	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalents`	-	USD	Point-in-time
Excess stock shares authorized	`ExcessStockSharesAuthorized`	4.00M	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at September 30, 2012 and December 31, 2011	`AccountsReceivableNet`	$1.39M	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at September 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 issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Excess stock shares issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Excess stock shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Financing costs, net of accumulated amortization of $6,107,125 and $5,707,043 at September 30, 2012 and December 31, 2011, respectively	`DeferredFinanceCostsNet`	$1.55M	USD	Point-in-time
Financing costs, net of accumulated amortization of $6,107,125 and $5,707,043 at September 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
Leasing costs, net of accumulated amortization of $1,283,987 and $1,205,985 at September 30, 2012 and December 31, 2011, respectively	`DeferredCostsLeasingNet`	$737.97K	USD	Point-in-time
Leasing costs, net of accumulated amortization of $1,283,987 and $1,205,985 at September 30, 2012 and December 31, 2011, respectively	`DeferredCostsLeasingNet`	$674.21K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $1,390,275 and $569,737 at September 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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	150,000.00	shares	Point-in-time
Lease intangibles, net of accumulated amortization of $1,390,275 and $569,737 at September 30, 2012 and December 31, 2011, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$21.83M	USD	Point-in-time
Other Assets	`OtherAssets`	$2.43M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$962.97K	USD	Point-in-time
Total Assets	`Assets`	$293.94M	USD	Point-in-time
Total Assets	`Assets`	$332.68M	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`	$69.57M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$62.85M	USD	Point-in-time
Notes Payable	`NotesPayable`	$56.44M	USD	Point-in-time
Notes Payable	`NotesPayable`	$54.84M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.07M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.71M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.07M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$2.39M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$2.05M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$4.00M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$734.20K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$491.93K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$3.96K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$424.32K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$1.39M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$3.38M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$1.33M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$629.46K	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`	$64.46K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$84.28K	USD	Point-in-time
Total Liabilities	`Liabilities`	$135.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$131.72M	USD	Point-in-time
Common stock, $.0001 par value, 15,850,000 and 13,350,000 shares authorized, 11,436,044 and 9,851,914 shares issued and outstanding, respectively	`CommonStockValue`	$985.00	USD	Point-in-time
Common stock, $.0001 par value, 15,850,000 and 13,350,000 shares authorized, 11,436,044 and 9,851,914 shares issued and outstanding, respectively	`CommonStockValue`	$1.14K	USD	Point-in-time
Excess stock, $.0001 par value, 4,000,000 and 6,500,000 shares authorized, 0 shares issued and outstanding, respectively	`ExcessStock`	-	USD	Point-in-time
Excess stock, $.0001 par value, 4,000,000 and 6,500,000 shares authorized, 0 shares issued and outstanding, respectively	`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`	$217.35M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$181.07M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-20.92M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-21.20M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.29M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-606.57K	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$194.86M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$159.55M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.65M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.68M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.52M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.22M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$332.68M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$293.94M	USD	Point-in-time

Income Statement 137 line items

Line Item	Tag	Value	Unit	Period
Other comprehensive income, net	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$-5.22K	USD	1 Quarter
Other comprehensive income, net	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$-20.71K	USD	3 Qtrs
Other comprehensive income, net	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$739.00	USD	1 Quarter
Other comprehensive income, net	`OtherComprehensiveIncomeLossTaxPortionAttributableToNoncontrollingInterest`	$1.16K	USD	3 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$8.72M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$24.70M	USD	3 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$7.13M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$21.20M	USD	3 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$2.00M	USD	1 Quarter
Percentage rents	`PercentageRent`	-	USD	1 Quarter
Percentage rents	`PercentageRent`	$564.00	USD	1 Quarter
Percentage rents	`PercentageRent`	$22.73K	USD	3 Qtrs
Percentage rents	`PercentageRent`	$21.97K	USD	3 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$1.69M	USD	3 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$569.55K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.69M	USD	3 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$542.27K	USD	1 Quarter
Development fee income	`ConstructionRevenue`	$894.69K	USD	3 Qtrs
Development fee income	`ConstructionRevenue`	-	USD	3 Qtrs
Development fee income	`ConstructionRevenue`	-	USD	1 Quarter
Development fee income	`ConstructionRevenue`	-	USD	1 Quarter
Other income	`OtherIncome`	$111.68K	USD	3 Qtrs
Other income	`OtherIncome`	$59.99K	USD	3 Qtrs
Other income	`OtherIncome`	$14.89K	USD	1 Quarter
Other income	`OtherIncome`	$28.13K	USD	1 Quarter
Total Revenues	`Revenues`	$23.92M	USD	3 Qtrs
Total Revenues	`Revenues`	$26.47M	USD	3 Qtrs
Total Revenues	`Revenues`	$7.73M	USD	1 Quarter
Total Revenues	`Revenues`	$9.28M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$478.46K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$1.43M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$1.36M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$395.03K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$253.88K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$305.09K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$810.58K	USD	3 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$909.68K	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$540.23K	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$468.23K	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$106.08K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$181.07K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.15M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.32M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.05M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.09M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.66M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.10M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.84M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.55M	USD	1 Quarter
Impairment charge	`ImpairmentOfRealEstate`	$600.00K	USD	3 Qtrs
Impairment charge	`ImpairmentOfRealEstate`	$600.00K	USD	1 Quarter
Impairment charge	`ImpairmentOfRealEstate`	-	USD	1 Quarter
Impairment charge	`ImpairmentOfRealEstate`	-	USD	3 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$4.21M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$3.73M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$11.64M	USD	3 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$11.63M	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$3.52M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$12.29M	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$5.55M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$14.83M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$-1.34M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$-2.88M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$-3.63M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$-970.05K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.36M	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.36M	USD	3 Qtrs
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.20M	USD	1 Quarter
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.91M	USD	1 Quarter
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$11.77M	USD	3 Qtrs
Income Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$11.21M	USD	3 Qtrs
Gain (Loss) on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	3 Qtrs
Gain (Loss) on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$1.75M	USD	3 Qtrs
Gain (Loss) on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Gain (Loss) on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-320.72K	USD	1 Quarter
Income (Loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$142.09K	USD	1 Quarter
Income (Loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$-5.10M	USD	3 Qtrs
Income (Loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$904.78K	USD	3 Qtrs
Income (Loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$-6.77M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$13.86M	USD	3 Qtrs
Net Income (Loss)	`ProfitLoss`	$4.03M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$6.67M	USD	3 Qtrs
Net Income (Loss)	`ProfitLoss`	$-1.86M	USD	1 Quarter
Less Net Income (Loss) Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$414.12K	USD	3 Qtrs
Less Net Income (Loss) Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$118.32K	USD	1 Quarter
Less Net Income (Loss) Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$228.63K	USD	3 Qtrs
Less Net Income (Loss) Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-61.82K	USD	1 Quarter
Net Income (Loss) Attributable to Agree Realty Corporation	`NetIncomeLoss`	$-1.79M	USD	1 Quarter
Net Income (Loss) Attributable to Agree Realty Corporation	`NetIncomeLoss`	$6.44M	USD	3 Qtrs
Net Income (Loss) Attributable to Agree Realty Corporation	`NetIncomeLoss`	$3.91M	USD	1 Quarter
Net Income (Loss) Attributable to Agree Realty Corporation	`NetIncomeLoss`	$13.44M	USD	3 Qtrs
Other comprehensive (income) loss, net of ($5,222), $739, ($20,709) and $1,160 attributable to non-controlling interest, respectively	`OtherComprehensiveIncomeLossNetOfTax`	$-683.45K	USD	3 Qtrs
Other comprehensive (income) loss, net of ($5,222), $739, ($20,709) and $1,160 attributable to non-controlling interest, respectively	`OtherComprehensiveIncomeLossNetOfTax`	$-171.79K	USD	1 Quarter
Other comprehensive (income) loss, net of ($5,222), $739, ($20,709) and $1,160 attributable to non-controlling interest, respectively	`OtherComprehensiveIncomeLossNetOfTax`	$32.85K	USD	3 Qtrs
Other comprehensive (income) loss, net of ($5,222), $739, ($20,709) and $1,160 attributable to non-controlling interest, respectively	`OtherComprehensiveIncomeLossNetOfTax`	$20.93K	USD	1 Quarter
Total Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$6.47M	USD	3 Qtrs
Total Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$12.76M	USD	3 Qtrs
Total Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$3.73M	USD	1 Quarter
Total Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$-1.77M	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.99	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.37	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$1.18	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.49	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.68	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.51	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.23	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.02	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.35	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.67	USD	3 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$1.22	USD	3 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.19	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$1.18	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.98	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.49	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.37	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.02	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.68	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.51	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.23	USD	3 Qtrs
Earnings Per Share (in dollars per share)	`EarningsPerShareDiluted`	$-0.19	USD	1 Quarter
Earnings Per Share (in dollars per share)	`EarningsPerShareDiluted`	$1.21	USD	3 Qtrs
Earnings Per Share (in dollars per share)	`EarningsPerShareDiluted`	$0.35	USD	1 Quarter
Earnings Per Share (in dollars per share)	`EarningsPerShareDiluted`	$0.67	USD	3 Qtrs
Dividends Declared Per Share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$1.20	USD	3 Qtrs
Dividends Declared Per Share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.40	USD	1 Quarter
Dividends Declared Per Share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$1.20	USD	3 Qtrs
Dividends Declared Per Share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.40	USD	1 Quarter
Weighted Average Number of Common Shares: Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.63M	shares	3 Qtrs
Weighted Average Number of Common Shares: Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.64M	shares	1 Quarter
Weighted Average Number of Common Shares: Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.03M	shares	3 Qtrs
Weighted Average Number of Common Shares: Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.19M	shares	1 Quarter
Weighted Average Number of Common Shares: Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.67M	shares	3 Qtrs
Weighted Average Number of Common Shares: Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.67M	shares	1 Quarter
Weighted Average Number of Common Shares: Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.24M	shares	1 Quarter
Weighted Average Number of Common Shares: Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.08M	shares	3 Qtrs

Cash Flow Statement 84 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$13.86M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.03M	USD	1 Quarter
Net income	`ProfitLoss`	$6.67M	USD	3 Qtrs
Net income	`ProfitLoss`	$-1.86M	USD	1 Quarter
Depreciation	`Depreciation`	$4.54M	USD	3 Qtrs
Depreciation	`Depreciation`	$4.32M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$811.29K	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$1.31M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.24M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.04M	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	$13.50M	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	-	USD	3 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.36M	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.36M	USD	3 Qtrs
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	3 Qtrs
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$1.75M	USD	3 Qtrs
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-320.72K	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$592.06K	USD	3 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.34M	USD	3 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.46M	USD	3 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-81.06K	USD	3 Qtrs
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$205.45K	USD	3 Qtrs
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.98M	USD	3 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-6.84M	USD	3 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-347.54K	USD	3 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$253.28K	USD	3 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-242.27K	USD	3 Qtrs
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-19.81K	USD	3 Qtrs
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$12.83K	USD	3 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$16.58M	USD	3 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$14.34M	USD	3 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireProductiveAssets`	$20.53M	USD	3 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireProductiveAssets`	$44.85M	USD	3 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$150.60K	USD	3 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$14.24K	USD	3 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$6.52M	USD	3 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$15.33M	USD	3 Qtrs
Increase in restricted cash	`IncreaseDecreaseInRestrictedCash`	$3.28M	USD	3 Qtrs
Increase in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.15M	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-32.81M	USD	3 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$35.04M	USD	3 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$35.00M	USD	Point-in-time
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$45.11M	USD	3 Qtrs
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$59.06M	USD	3 Qtrs
Line-of-credit repayments	`RepaymentsOfLinesOfCredit`	$30.10M	USD	3 Qtrs
Line-of-credit repayments	`RepaymentsOfLinesOfCredit`	$60.67M	USD	3 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$3.46M	USD	3 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$2.33M	USD	3 Qtrs
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$13.32M	USD	3 Qtrs
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$13.51M	USD	3 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$286.08K	USD	3 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$424.32K	USD	3 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$70.78K	USD	3 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$164.85K	USD	3 Qtrs
Net Cash Provided by (Used In) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.13M	USD	3 Qtrs
Net Cash Provided by (Used In) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$17.01M	USD	3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$293.51K	USD	3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.46M	USD	3 Qtrs
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$886.79K	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`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$542.99K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$886.79K	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`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$542.99K	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$3.45M	USD	3 Qtrs
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$3.41M	USD	3 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.31M	USD	3 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.18M	USD	3 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`	$4.71M	USD	Point-in-time
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableCurrentAndNoncurrent`	$4.07M	USD	Point-in-time
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$35.05K	USD	3 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$54.32K	USD	3 Qtrs
Forgiveness of mortgage debt	`DebtInstrumentDecreaseForgiveness`	$9.17M	USD	3 Qtrs
Forgiveness of mortgage debt	`DebtInstrumentDecreaseForgiveness`	-	USD	3 Qtrs
Real estate acquisitions financed with debt assumption	`RealEstateAcquisitionsFinancedWithDebtAssumption`	$18.22M	USD	3 Qtrs
Real estate acquisitions financed with debt assumption	`RealEstateAcquisitionsFinancedWithDebtAssumption`	-	USD	3 Qtrs

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.52M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.22M	USD	Point-in-time
Issuance of common stock, net of issuance costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	1.30M	shares	Point-in-time
Net income for the period January 1, 2012 to September 30, 2012	`ProfitLoss`	$13.86M	USD	3 Qtrs
Net income for the period January 1, 2012 to September 30, 2012	`ProfitLoss`	$4.03M	USD	1 Quarter
Net income for the period January 1, 2012 to September 30, 2012	`ProfitLoss`	$6.67M	USD	3 Qtrs
Net income for the period January 1, 2012 to September 30, 2012	`ProfitLoss`	$-1.86M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.52M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.22M	USD	Point-in-time

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