10-Q Filing

AGREE REALTY CORP CIK: 917251 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001144204-13-042771`
Period End Date	20130630
Filing Date	20130802
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	adc-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 95 Income Statement 133 Cash Flow Statement 80 Stockholders Equity 9

Balance Sheet 95 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
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$6.27M	USD	Point-in-time
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$6.63M	USD	Point-in-time
Land	`Land`	$148.81M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$1.31M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$240.20M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$275.78M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$1.37M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$58.51M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.39M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$61.87M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.59M	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`	$362.72M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$12.47M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	28.00M	shares	Point-in-time
Property held for sale	`RealEstateHeldforsale`	$4.54M	USD	Point-in-time
Property held for sale	`RealEstateHeldforsale`	-	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	11.44M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	13.24M	shares	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$375.20M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$339.96M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	11.44M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	13.24M	shares	Point-in-time
Excess stock, par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$618.49K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Excess stock, par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at June 30, 2013 and December 31, 2012	`AccountsReceivableNet`	$1.79M	USD	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	4.00M	shares	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	8.00M	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at June 30, 2013 and December 31, 2012	`AccountsReceivableNet`	$2.16M	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
Excess stock, shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Financing costs, net of accumulated amortization of $6,630,418 and $6,273,113 at June 30, 2013 and December 31, 2012, respectively	`DeferredFinanceCostsNet`	$2.86M	USD	Point-in-time
Financing costs, net of accumulated amortization of $6,630,418 and $6,273,113 at June 30, 2013 and December 31, 2012, respectively	`DeferredFinanceCostsNet`	$2.54M	USD	Point-in-time
Leasing costs, net of accumulated amortization of $1,367,345 and $1,312,085 at June 30, 2013 and December 31, 2012, respectively	`DeferredCostsLeasingNet`	$687.83K	USD	Point-in-time
Leasing costs, net of accumulated amortization of $1,367,345 and $1,312,085 at June 30, 2013 and December 31, 2012, respectively	`DeferredCostsLeasingNet`	$632.57K	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $2,392,654 and $1,594,815 at June 30, 2013 and December 31, 2012, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$26.93M	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $2,392,654 and $1,594,815 at June 30, 2013 and December 31, 2012, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$21.34M	USD	Point-in-time
Other Assets	`OtherAssets`	$2.55M	USD	Point-in-time
Other Assets	`OtherAssets`	$1.81M	USD	Point-in-time
Total Assets	`Assets`	$370.09M	USD	Point-in-time
Total Assets	`Assets`	$410.85M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$117.38M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$115.67M	USD	Point-in-time
Note Payable	`NotesPayable`	$43.53M	USD	Point-in-time
Note Payable	`NotesPayable`	$40.64M	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`	$1.70M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$420.60K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$335.42K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$122.08K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.02M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$1.73M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$1.34M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$331.15K	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`	$56.71K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$64.46K	USD	Point-in-time
Total Liabilities	`Liabilities`	$172.13M	USD	Point-in-time
Total Liabilities	`Liabilities`	$166.82M	USD	Point-in-time
Common stock, $.0001 par value per share, 28,000,000 and 15,850,000 shares authorized,13,237,404 and 11,436,044 shares issued and outstanding, respectively	`CommonStockValue`	$1.32K	USD	Point-in-time
Common stock, $.0001 par value per share, 28,000,000 and 15,850,000 shares authorized,13,237,404 and 11,436,044 shares issued and outstanding, respectively	`CommonStockValue`	$1.14K	USD	Point-in-time
Excess stock, $.0001 par value per share, 8,000,000 and 4,000,000 shares authorized, no shares issued and outstanding, respectively	`ExcessStock`	-	USD	Point-in-time
Excess stock, $.0001 par value per share, 8,000,000 and 4,000,000 shares authorized, no shares issued and outstanding, respectively	`ExcessStock`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$217.77M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$263.50M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-22.36M	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`	$227.78K	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$195.31M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$241.37M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.66M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.67M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$244.03M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.97M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$370.09M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$410.85M	USD	Point-in-time

Income Statement 133 line items

Line Item	Tag	Value	Unit	Period
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$7.99M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$19.90M	USD	2 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$10.26M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$1.70M	USD	Annual
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$15.80M	USD	2 Qtrs
Percentage rents	`PercentageRent`	-	USD	1 Quarter
Percentage rents	`PercentageRent`	$22.73K	USD	2 Qtrs
Percentage rents	`PercentageRent`	$20.06K	USD	2 Qtrs
Percentage rents	`PercentageRent`	$7.62K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$645.52K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$612.17K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.24M	USD	2 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$1.15M	USD	2 Qtrs
Other income	`OtherIncome`	$27.87K	USD	1 Quarter
Other income	`OtherIncome`	$45.10K	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	1 Quarter
Total Revenues	`Revenues`	$8.63M	USD	1 Quarter
Total Revenues	`Revenues`	$17.02M	USD	2 Qtrs
Total Revenues	`Revenues`	$21.16M	USD	2 Qtrs
Total Revenues	`Revenues`	$10.91M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$1.03M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$492.40K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$558.71K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$968.48K	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$556.71K	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$301.98K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$221.91K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$659.37K	USD	2 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$362.15K	USD	2 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$106.97K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$213.95K	USD	2 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$181.07K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.08M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.43M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.84M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$3.15M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.24M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.67M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$7.87M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$9.22M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$4.85M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$4.00M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$6.05M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$9.15M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$11.93M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$4.64M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.53M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.15M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$2.97M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$2.28M	USD	2 Qtrs
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.53M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$3.49M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$6.87M	USD	2 Qtrs
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.97M	USD	2 Qtrs
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$1.16M	USD	1 Quarter
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$946.35K	USD	2 Qtrs
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$2.07M	USD	2 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$438.78K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$897.74K	USD	2 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$7.01K	USD	2 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	-	USD	1 Quarter
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$953.36K	USD	2 Qtrs
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$2.97M	USD	2 Qtrs
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$1.60M	USD	1 Quarter
Net Income	`ProfitLoss`	$9.92M	USD	2 Qtrs
Net Income	`ProfitLoss`	$4.53M	USD	1 Quarter
Net Income	`ProfitLoss`	$9.83M	USD	2 Qtrs
Net Income	`ProfitLoss`	$5.09M	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$258.35K	USD	2 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$295.80K	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`	$116.87K	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.41M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.94M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$9.66M	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$9.54M	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.34	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.30	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.68	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.61	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.14	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.26	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.07	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.44	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.87	USD	2 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.75	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.68	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.34	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.30	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.61	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.07	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.14	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.26	USD	2 Qtrs
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.34	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`	$0.75	USD	2 Qtrs
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.44	USD	1 Quarter
Net income	`ProfitLoss`	$9.92M	USD	2 Qtrs
Net income	`ProfitLoss`	$4.53M	USD	1 Quarter
Net income	`ProfitLoss`	$9.83M	USD	2 Qtrs
Net income	`ProfitLoss`	$5.09M	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-527.14K	USD	2 Qtrs
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.56M	USD	2 Qtrs
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.31M	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-579.94K	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$5.84M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$4.51M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$9.30M	USD	2 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$11.48M	USD	2 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$-280.31K	USD	2 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$-150.45K	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$-133.13K	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$-298.49K	USD	2 Qtrs
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$4.38M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$11.19M	USD	2 Qtrs
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$5.69M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$9.02M	USD	2 Qtrs
Weighted Average Number of Common Share Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.95M	shares	2 Qtrs
Weighted Average Number of Common Share Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.82M	shares	2 Qtrs
Weighted Average Number of Common Share Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.99M	shares	1 Quarter
Weighted Average Number of Common Share Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.18M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.89M	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
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.07M	shares	1 Quarter

Cash Flow Statement 80 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$9.92M	USD	2 Qtrs
Net income	`ProfitLoss`	$4.53M	USD	1 Quarter
Net income	`ProfitLoss`	$9.83M	USD	2 Qtrs
Net income	`ProfitLoss`	$5.09M	USD	1 Quarter
Interest Capitalized For Real Estate Under Development	`InterestCapitalizedForReaLestateUnderDevelopment`	-	USD	2 Qtrs
Interest Capitalized For Real Estate Under Development	`InterestCapitalizedForReaLestateUnderDevelopment`	$328.34K	USD	2 Qtrs
Depreciation	`Depreciation`	$2.91M	USD	2 Qtrs
Depreciation	`Depreciation`	$3.39M	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$849.66K	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$1.21M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$824.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$924.99K	USD	2 Qtrs
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$1.16M	USD	1 Quarter
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$946.35K	USD	2 Qtrs
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$2.07M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-373.58K	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-40.49K	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$210.33K	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`	$-285.05K	USD	2 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-231.69K	USD	2 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-231.69K	USD	2 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$85.18K	USD	2 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-253.14K	USD	2 Qtrs
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-7.75K	USD	2 Qtrs
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-3.10K	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$14.23M	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$8.76M	USD	2 Qtrs
Acquisition of real estate investments (including capitalized interest of $328,336 in 2013, $0 in 2012)	`PaymentsToAcquireProductiveAssets`	$25.57M	USD	2 Qtrs
Acquisition of real estate investments (including capitalized interest of $328,336 in 2013, $0 in 2012)	`PaymentsToAcquireProductiveAssets`	$49.50M	USD	2 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$14.24K	USD	2 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	-	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$6.54M	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$5.46M	USD	2 Qtrs
Increase in restricted cash	`IncreaseDecreaseInRestrictedCash`	$3.28M	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.33M	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-44.04M	USD	2 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$35.04M	USD	2 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$45.00M	USD	Point-in-time
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$44.80M	USD	2 Qtrs
Note payable borrowings	`ProceedsFromLinesOfCredit`	$35.06M	USD	2 Qtrs
Note payable borrowings	`ProceedsFromLinesOfCredit`	$54.31M	USD	2 Qtrs
Note payable repayments	`RepaymentsOfLinesOfCredit`	$47.07M	USD	2 Qtrs
Note payable repayments	`RepaymentsOfLinesOfCredit`	$57.20M	USD	2 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$1.71M	USD	2 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$1.53M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$8.51M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$10.00M	USD	2 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$281.57K	USD	2 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$278.10K	USD	2 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$424.32K	USD	2 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$122.08K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$105.40K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$31.28K	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$29.77M	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$12.18M	USD	2 Qtrs
Net (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-44.83K	USD	2 Qtrs
Net (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.38M	USD	2 Qtrs
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$618.49K	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`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$618.49K	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`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$2.82M	USD	2 Qtrs
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$2.27M	USD	2 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.18M	USD	2 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.30M	USD	2 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsDeclaredAndUnpaid`	$5.57M	USD	2 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsDeclaredAndUnpaid`	$4.72M	USD	2 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$35.05K	USD	2 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	2 Qtrs
Forgiveness of mortgage debt	`DebtInstrumentDecreaseForgiveness`	-	USD	2 Qtrs
Forgiveness of mortgage debt	`DebtInstrumentDecreaseForgiveness`	$9.17M	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`	$244.03M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$197.97M	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 June 30, 2013	`ProfitLoss`	$9.92M	USD	2 Qtrs
Net income for the period January 1, 2013 to June 30, 2013	`ProfitLoss`	$4.53M	USD	1 Quarter
Net income for the period January 1, 2013 to June 30, 2013	`ProfitLoss`	$9.83M	USD	2 Qtrs
Net income for the period January 1, 2013 to June 30, 2013	`ProfitLoss`	$5.09M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$244.03M	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.