10-Q Filing

AGREE REALTY CORP CIK: 917251 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001144204-13-026242`
Period End Date	20130331
Filing Date	20130503
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	adc-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 104 Income Statement 65 Cash Flow Statement 70 Stockholders Equity 7

Balance Sheet 104 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`	$134.74M	USD	Point-in-time
Land	`Land`	$135.50M	USD	Point-in-time
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$6.45M	USD	Point-in-time
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$6.27M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$240.20M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$252.16M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$1.31M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$1.34M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$60.10M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.59M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.91M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$58.51M	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$316.44M	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`	$327.57M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.85M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$21.18M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.85M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$18.98M	USD	Point-in-time
Property held for sale	`RealEstateHeldforsale`	$4.54M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	13.24M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	11.44M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	11.44M	shares	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$348.75M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$339.96M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	13.24M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Excess stock, par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$465.32K	USD	Point-in-time
Excess stock, par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	4.00M	shares	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 March 31, 2013 and December 31, 2012	`AccountsReceivableNet`	$2.16M	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at March 31, 2013 and December 31, 2012	`AccountsReceivableNet`	$1.72M	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
Excess stock, shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Financing costs, net of accumulated amortization of $6,451,619 and $6,273,113 at March 31, 2013 and December 31, 2012, respectively	`DeferredFinanceCostsNet`	$2.86M	USD	Point-in-time
Financing costs, net of accumulated amortization of $6,451,619 and $6,273,113 at March 31, 2013 and December 31, 2012, respectively	`DeferredFinanceCostsNet`	$2.71M	USD	Point-in-time
Excess stock, shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Leasing costs, net of accumulated amortization of $1,339,715 and $1,312,085 at March 31, 2013 and December 31, 2012, respectively	`DeferredCostsLeasingNet`	$660.20K	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
Leasing costs, net of accumulated amortization of $1,339,715 and $1,312,085 at March 31, 2013 and December 31, 2012, respectively	`DeferredCostsLeasingNet`	$687.83K	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $1,909,384 and $1,594,815 at March 31, 2013 and December 31, 2012, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$21.34M	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $1,909,384 and $1,594,815 at March 31, 2013 and December 31, 2012, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$23.17M	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$1.99M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$1.81M	USD	Point-in-time
Total Assets	`Assets`	$370.09M	USD	Point-in-time
Total Assets	`Assets`	$380.21M	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`	$116.53M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$117.38M	USD	Point-in-time
Note Payable	`NotesPayable`	$43.53M	USD	Point-in-time
Note Payable	`NotesPayable`	$9.00M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.71M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$5.57M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$4.00M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.93M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.81M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$335.42K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$436.72K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$85.87K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$122.08K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.02M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$1.60M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$1.09M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$1.34M	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`	$61.96K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$64.46K	USD	Point-in-time
Total Liabilities	`Liabilities`	$136.89M	USD	Point-in-time
Total Liabilities	`Liabilities`	$172.13M	USD	Point-in-time
Common stock, $.0001 par value, 15,850,000 shares authorized, 13,241,844 and 11,436,044 shares issued and outstanding, respectively	`CommonStockValue`	$1.14K	USD	Point-in-time
Common stock, $.0001 par value, 15,850,000 shares authorized, 13,241,844 and 11,436,044 shares issued and outstanding, respectively	`CommonStockValue`	$1.32K	USD	Point-in-time
Excess stock, $.0001 par value, 4,000,000 shares authorized, 0 shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Excess stock, $.0001 par value, 4,000,000 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`	$263.05M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$217.77M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-21.34M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-21.17M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.29M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.05M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$240.66M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$195.31M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.66M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.66M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.97M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$243.32M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$370.09M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$380.21M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$9.64M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$1.80M	USD	Annual
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$7.82M	USD	1 Quarter
Percentage rents	`PercentageRent`	$20.06K	USD	1 Quarter
Percentage rents	`PercentageRent`	$15.11K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$591.77K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$536.76K	USD	1 Quarter
Other income	`OtherIncome`	$17.23K	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Total Revenues	`Revenues`	$8.39M	USD	1 Quarter
Total Revenues	`Revenues`	$10.25M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$476.07K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$466.51K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$334.80K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$357.39K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$106.97K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$181.07K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.41M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.48M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$3.88M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$4.37M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$5.88M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$4.51M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.14M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.44M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$3.37M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.44M	USD	1 Quarter
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$908.16K	USD	1 Quarter
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$946.35K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$7.01K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$458.96K	USD	1 Quarter
Net Income	`ProfitLoss`	$5.39M	USD	1 Quarter
Net Income	`ProfitLoss`	$4.74M	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$145.56K	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$141.48K	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.60M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$5.25M	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.31	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.35	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.07	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.12	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.43	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.31	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.34	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.12	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.07	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.41	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.43	USD	1 Quarter
Net income	`ProfitLoss`	$5.39M	USD	1 Quarter
Net income	`ProfitLoss`	$4.74M	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$52.79K	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$250.67K	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$5.64M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$4.79M	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$-148.05K	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$-147.18K	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$4.65M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$5.49M	USD	1 Quarter
Weighted Average Number of Common Shares: Outstanding -Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.72M	shares	1 Quarter
Weighted Average Number of Common Shares: Outstanding -Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.64M	shares	1 Quarter
Weighted Average Number of Common Shares: Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.69M	shares	1 Quarter
Weighted Average Number of Common Shares: Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.75M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$5.39M	USD	1 Quarter
Net income	`ProfitLoss`	$4.74M	USD	1 Quarter
Depreciation	`Depreciation`	$1.45M	USD	1 Quarter
Depreciation	`Depreciation`	$1.61M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$520.71K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$353.72K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$470.11K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$412.00K	USD	1 Quarter
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$908.16K	USD	1 Quarter
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$946.35K	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-197.36K	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-441.79K	USD	1 Quarter
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$288.82K	USD	1 Quarter
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$194.41K	USD	1 Quarter
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.76M	USD	1 Quarter
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-411.44K	USD	1 Quarter
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-115.84K	USD	1 Quarter
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-115.84K	USD	1 Quarter
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-260.68K	USD	1 Quarter
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$101.30K	USD	1 Quarter
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-2.50K	USD	1 Quarter
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-1.40K	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$6.87M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$3.82M	USD	1 Quarter
Acquisition of real estate investments (including capitalized interest of $203,558 in 2013, $0 in 2012)	`PaymentsToAcquireProductiveAssets`	$9.73M	USD	1 Quarter
Acquisition of real estate investments (including capitalized interest of $203,558 in 2013, $0 in 2012)	`PaymentsToAcquireProductiveAssets`	$16.97M	USD	1 Quarter
Payment of leasing costs	`PaymentsForLeasingCosts`	-	USD	1 Quarter
Payment of leasing costs	`PaymentsForLeasingCosts`	$625.00	USD	1 Quarter
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$627.12K	USD	1 Quarter
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$5.46M	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.51M	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.10M	USD	1 Quarter
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$44.81M	USD	1 Quarter
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$45.00M	USD	Point-in-time
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$35.04M	USD	1 Quarter
Note payable borrowings	`ProceedsFromLinesOfCredit`	$17.24M	USD	1 Quarter
Note payable borrowings	`ProceedsFromLinesOfCredit`	$13.94M	USD	1 Quarter
Note payable repayments	`RepaymentsOfLinesOfCredit`	$40.00M	USD	1 Quarter
Note payable repayments	`RepaymentsOfLinesOfCredit`	$51.77M	USD	1 Quarter
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$739.78K	USD	1 Quarter
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$850.03K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$4.57M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$3.94M	USD	1 Quarter
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$139.05K	USD	1 Quarter
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$139.05K	USD	1 Quarter
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$424.32K	USD	1 Quarter
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$122.08K	USD	1 Quarter
Payments for financing costs	`PaymentsOfFinancingCosts`	$27.31K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$3.74M	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$4.57M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.54M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-71.00K	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.20M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$465.32K	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`	$1.20M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$465.32K	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$1.28M	USD	1 Quarter
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$1.15M	USD	1 Quarter
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.26M	USD	1 Quarter
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.17M	USD	1 Quarter
Dividends and limited partners' distributions declared and unpaid	`DividendsDeclaredAndUnpaid`	$4.70M	USD	1 Quarter
Dividends and limited partners' distributions declared and unpaid	`DividendsDeclaredAndUnpaid`	$5.57M	USD	1 Quarter
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$85.87K	USD	1 Quarter
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$54.32K	USD	1 Quarter
Forgiveness of mortgage debt	`DebtInstrumentDecreaseForgiveness`	$9.17M	USD	1 Quarter
Forgiveness of mortgage debt	`DebtInstrumentDecreaseForgiveness`	-	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.97M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$243.32M	USD	Point-in-time
Issuance of common stock, net of issuance costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	1.73M	shares	Point-in-time
Net income for the period January 1, 2013 to March 31, 2013	`ProfitLoss`	$5.39M	USD	1 Quarter
Net income for the period January 1, 2013 to March 31, 2013	`ProfitLoss`	$4.74M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.97M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$243.32M	USD	Point-in-time

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