10-Q Filing

AGREE REALTY CORP CIK: 917251 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001144204-13-058235`
Period End Date	20130930
Filing Date	20131101
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	adc-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 108 Income Statement 136 Cash Flow Statement 85 Stockholders Equity 9

Balance Sheet 108 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
Land	`Land`	$156.31M	USD	Point-in-time
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$6.81M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$240.20M	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`	$1.40M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$296.40M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$63.59M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.80M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.59M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$58.51M	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$389.12M	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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$18.98M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.85M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$12.84M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	28.00M	shares	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
Property held for sale	`RealEstateHeldforsale`	-	USD	Point-in-time
Property held for sale	`RealEstateHeldforsale`	$4.54M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	11.44M	shares	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$339.96M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$401.96M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	13.24M	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
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.82M	USD	Point-in-time
Excess stock, par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at September 30, 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 September 30, 2013 and December 31, 2012	`AccountsReceivableNet`	$2.36M	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
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 $6,810,953 and $6,273,113 at September 30, 2013 and December 31, 2012, respectively	`DeferredFinanceCostsNet`	$2.86M	USD	Point-in-time
Financing costs, net of accumulated amortization of $6,810,953 and $6,273,113 at September 30, 2013 and December 31, 2012, respectively	`DeferredFinanceCostsNet`	$2.64M	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 $1,395,349 and $1,312,085 at September 30, 2013 and December 31, 2012, respectively	`DeferredCostsLeasingNet`	$687.83K	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 $1,395,349 and $1,312,085 at September 30, 2013 and December 31, 2012, respectively	`DeferredCostsLeasingNet`	$613.51K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Lease intangibles, net of accumulated amortization of $2,801,182 and $1,594,815 at September 30, 2013 and December 31, 2012, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$27.90M	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $2,801,182 and $1,594,815 at September 30, 2013 and December 31, 2012, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$21.34M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	150,000.00	shares	Point-in-time
Other Assets	`OtherAssets`	$1.81M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$2.32M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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
Total Assets	`Assets`	$370.09M	USD	Point-in-time
Total Assets	`Assets`	$443.62M	USD	Point-in-time
Mortgage Notes Payable	`SecuredDebt`	$117.38M	USD	Point-in-time
Mortgage Notes Payable	`SecuredDebt`	$114.79M	USD	Point-in-time
Unsecured Revolving Credit Facility	`UnsecuredRevolvingCreditFacility`	$40.00M	USD	Point-in-time
Unsecured Revolving Credit Facility	`UnsecuredRevolvingCreditFacility`	$43.53M	USD	Point-in-time
Unsecured Term Loan	`UnsecuredTermLoan`	-	USD	Point-in-time
Unsecured Term Loan	`UnsecuredTermLoan`	$35.00M	USD	Point-in-time
Total Notes Payable	`NotesPayable`	$160.91M	USD	Point-in-time
Total Notes Payable	`NotesPayable`	$189.79M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$5.57M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.71M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.58M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.93M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$335.42K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$371.90K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$322.72K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$122.08K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$1.46M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.02M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$734.18K	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`	$51.37K	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`	$200.59M	USD	Point-in-time
Common stock, $.0001 par value per share, 28,000,000 and 15,850,000 shares authorized, 13,240,404 and 11,436,044 shares issued and outstanding, respectively	`CommonStockValue`	$1.14K	USD	Point-in-time
Common stock, $.0001 par value per share, 28,000,000 and 15,850,000 shares authorized, 13,240,404 and 11,436,044 shares issued and outstanding, respectively	`CommonStockValue`	$1.32K	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
Preferred Stock, Value, Issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, Value, Issued	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$217.77M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$263.96M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-21.17M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-23.26M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-308.12K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.29M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$195.31M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$240.39M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.63M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.66M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$243.03M	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`	$443.62M	USD	Point-in-time

Income Statement 136 line items

Line Item	Tag	Value	Unit	Period
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$10.68M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$24.44M	USD	3 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$8.64M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$30.58M	USD	3 Qtrs
Percentage rents	`PercentageRent`	$22.73K	USD	3 Qtrs
Percentage rents	`PercentageRent`	$20.06K	USD	3 Qtrs
Percentage rents	`PercentageRent`	-	USD	1 Quarter
Percentage rents	`PercentageRent`	-	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$901.26K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$542.27K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.69M	USD	3 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$2.14M	USD	3 Qtrs
Other income	`OtherIncome`	$14.89K	USD	1 Quarter
Other income	`OtherIncome`	$1.55K	USD	3 Qtrs
Other income	`OtherIncome`	$1.55K	USD	1 Quarter
Other income	`OtherIncome`	$59.99K	USD	3 Qtrs
Total Revenues	`Revenues`	$11.59M	USD	1 Quarter
Total Revenues	`Revenues`	$26.21M	USD	3 Qtrs
Total Revenues	`Revenues`	$32.74M	USD	3 Qtrs
Total Revenues	`Revenues`	$9.19M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$1.69M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$1.36M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$660.05K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$395.03K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$326.04K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$810.58K	USD	3 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$985.41K	USD	3 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$253.88K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$106.08K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$320.93K	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$468.23K	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$106.97K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.67M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.32M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.15M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.64M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.42M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.18M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.79M	USD	3 Qtrs
Impairment charge	`ImpairmentOfRealEstate`	-	USD	1 Quarter
Impairment charge	`ImpairmentOfRealEstate`	-	USD	3 Qtrs
Impairment charge	`ImpairmentOfRealEstate`	$450.00K	USD	1 Quarter
Impairment charge	`ImpairmentOfRealEstate`	$450.00K	USD	3 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$5.31M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$3.71M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$14.53M	USD	3 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$11.58M	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$18.21M	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$6.28M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$5.48M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$14.63M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$1.63M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$4.60M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$3.63M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$1.34M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$11.00M	USD	3 Qtrs
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.14M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$13.61M	USD	3 Qtrs
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.65M	USD	1 Quarter
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`	$946.35K	USD	3 Qtrs
Gain(Loss) on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-320.72K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$7.01K	USD	3 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$1.11M	USD	3 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	-	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$209.62K	USD	1 Quarter
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-111.10K	USD	1 Quarter
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$953.36K	USD	3 Qtrs
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$2.85M	USD	3 Qtrs
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Net Income	`ProfitLoss`	$4.03M	USD	1 Quarter
Net Income	`ProfitLoss`	$14.57M	USD	3 Qtrs
Net Income	`ProfitLoss`	$4.65M	USD	1 Quarter
Net Income	`ProfitLoss`	$13.86M	USD	3 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$414.12K	USD	3 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$117.62K	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$378.69K	USD	3 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$118.32K	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$13.44M	USD	3 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$14.19M	USD	3 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$3.91M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.53M	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$1.03	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.36	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.35	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.97	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.25	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.07	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.01	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`	$1.22	USD	3 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$1.10	USD	3 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.35	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$1.03	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.35	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.36	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.96	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.25	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.07	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.01	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.10	USD	3 Qtrs
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.35	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.21	USD	3 Qtrs
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.35	USD	1 Quarter
Net income	`ProfitLoss`	$4.03M	USD	1 Quarter
Net income	`ProfitLoss`	$14.57M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.65M	USD	1 Quarter
Net income	`ProfitLoss`	$13.86M	USD	3 Qtrs
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-177.01K	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-549.98K	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.01M	USD	3 Qtrs
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-704.15K	USD	3 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$15.58M	USD	3 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$3.85M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$4.10M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$13.15M	USD	3 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$-404.75K	USD	3 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$-103.54K	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$-393.41K	USD	3 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$-113.10K	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$15.17M	USD	3 Qtrs
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$3.99M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$3.73M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$12.76M	USD	3 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.98M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.87M	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 - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.03M	shares	3 Qtrs
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.06M	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
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.95M	shares	3 Qtrs

Cash Flow Statement 85 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$4.03M	USD	1 Quarter
Net income	`ProfitLoss`	$14.57M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.65M	USD	1 Quarter
Net income	`ProfitLoss`	$13.86M	USD	3 Qtrs
Interest Capitalized For Real Estate Under Development	`InterestCapitalizedForReaLestateUnderDevelopment`	$104.25K	USD	3 Qtrs
Interest Capitalized For Real Estate Under Development	`InterestCapitalizedForReaLestateUnderDevelopment`	$438.84K	USD	3 Qtrs
Depreciation	`Depreciation`	$5.13M	USD	3 Qtrs
Depreciation	`Depreciation`	$4.32M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$1.31M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$1.83M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.39M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.24M	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	-	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	$450.00K	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`	$946.35K	USD	3 Qtrs
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`	$201.05K	USD	3 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.46M	USD	3 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$130.96K	USD	3 Qtrs
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.98M	USD	3 Qtrs
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-549.02K	USD	3 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-347.54K	USD	3 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-347.54K	USD	3 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$36.48K	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`	$-13.09K	USD	3 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$14.34M	USD	3 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$21.22M	USD	3 Qtrs
Acquisition of real estate investments (including capitalized interest of $438,843 in 2013, $104,254 in 2012)	`PaymentsToAcquireProductiveAssets`	$44.85M	USD	3 Qtrs
Acquisition of real estate investments (including capitalized interest of $438,843 in 2013, $104,254 in 2012)	`PaymentsToAcquireProductiveAssets`	$79.51M	USD	3 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$14.24K	USD	3 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$8.95K	USD	3 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$15.33M	USD	3 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$5.46M	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`	$-32.81M	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-74.06M	USD	3 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$35.04M	USD	3 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$45.00M	USD	Point-in-time
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$44.80M	USD	3 Qtrs
Note payable borrowings	`ProceedsFromLinesOfCredit`	$86.89M	USD	3 Qtrs
Note payable borrowings	`ProceedsFromLinesOfCredit`	$59.06M	USD	3 Qtrs
Note payable repayments	`RepaymentsOfLinesOfCredit`	$60.67M	USD	3 Qtrs
Note payable repayments	`RepaymentsOfLinesOfCredit`	$90.42M	USD	3 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$2.59M	USD	3 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$2.33M	USD	3 Qtrs
Term loan payable proceeds	`ProceedsFromShortTermDebt`	$35.00M	USD	3 Qtrs
Term loan payable proceeds	`ProceedsFromShortTermDebt`	-	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$15.43M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$13.09M	USD	3 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$417.14K	USD	3 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$424.10K	USD	3 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$122.08K	USD	3 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$424.32K	USD	3 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$311.52K	USD	3 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$164.85K	USD	3 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$57.40M	USD	3 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$17.01M	USD	3 Qtrs
Net (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.55M	USD	3 Qtrs
Net (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.46M	USD	3 Qtrs
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$542.99K	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`	$5.82M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$542.99K	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`	$5.82M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$4.46M	USD	3 Qtrs
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$3.41M	USD	3 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.18M	USD	3 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.39M	USD	3 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsDeclaredAndUnpaid`	$5.57M	USD	3 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsDeclaredAndUnpaid`	$4.71M	USD	3 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$35.05K	USD	3 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$322.72K	USD	3 Qtrs
Forgiveness of mortgage debt	`DebtInstrumentDecreaseForgiveness`	-	USD	3 Qtrs
Forgiveness of mortgage debt	`DebtInstrumentDecreaseForgiveness`	$9.17M	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`	$243.03M	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 September 30, 2013	`ProfitLoss`	$4.03M	USD	1 Quarter
Net income for the period January 1, 2013 to September 30, 2013	`ProfitLoss`	$14.57M	USD	3 Qtrs
Net income for the period January 1, 2013 to September 30, 2013	`ProfitLoss`	$4.65M	USD	1 Quarter
Net income for the period January 1, 2013 to September 30, 2013	`ProfitLoss`	$13.86M	USD	3 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$243.03M	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.