10-Q Filing

AGREE REALTY CORP CIK: 917251 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001144204-14-046439`
Period End Date	20140630
Filing Date	20140801
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	adc-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 108 Income Statement 136 Cash Flow Statement 78 Stockholders Equity 8

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
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$7.01M	USD	Point-in-time
Accumulated amortization, deferred finance costs (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$2.10M	USD	Point-in-time
Land	`Land`	$162.10M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$1.43M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$492.46K	USD	Point-in-time
Land	`Land`	$171.38M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$297.46M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$4.28M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.23M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$321.99M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$60.63M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$64.38M	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, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$428.99M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	28.00M	shares	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$398.93M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	28.00M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$6.96M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	14.96M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$11.88M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	14.88M	shares	Point-in-time
Property held for sale	`RealEstateHeldforsale`	-	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	14.96M	shares	Point-in-time
Property held for sale	`RealEstateHeldforsale`	$4.85M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	14.88M	shares	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
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$440.87M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$410.73M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.54M	USD	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	8.00M	shares	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	8.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at June 30, 2014 and December 31, 2013	`AccountsReceivableNet`	$3.26M	USD	Point-in-time
Excess stock, shares issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at June 30, 2014 and December 31, 2013	`AccountsReceivableNet`	$3.79M	USD	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 $2,103,690 and $7,009,538 at June 30, 2014 and December 31, 2013, respectively	`DeferredFinanceCostsNet`	$2.53M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Financing costs, net of accumulated amortization of $2,103,690 and $7,009,538 at June 30, 2014 and December 31, 2013, respectively	`DeferredFinanceCostsNet`	$2.16M	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 $492,459 and $1,425,186 at June 30, 2014 and December 31, 2013, respectively	`DeferredCostsLeasingNet`	$702.09K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Leasing costs, net of accumulated amortization of $492,459 and $1,425,186 at June 30, 2014 and December 31, 2013, respectively	`DeferredCostsLeasingNet`	$758.04K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Lease intangibles, net of accumulated amortization of $4,280,110 and $3,228,506 at June 30, 2014 and December 31, 2013, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$29.46M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Lease intangibles, net of accumulated amortization of $4,280,110 and $3,228,506 at June 30, 2014 and December 31, 2013, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$27.71M	USD	Point-in-time
Other Assets	`OtherAssets`	$3.22M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$2.55M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Assets	`Assets`	$462.74M	USD	Point-in-time
Total Assets	`Assets`	$481.16M	USD	Point-in-time
Mortgage Notes Payable	`SecuredDebt`	$113.90M	USD	Point-in-time
Mortgage Notes Payable	`SecuredDebt`	$102.93M	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$9.50M	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$43.36M	USD	Point-in-time
Unsecured Term Loan	`LoansPayable`	$35.00M	USD	Point-in-time
Unsecured Term Loan	`LoansPayable`	$35.00M	USD	Point-in-time
Total Notes Payable	`NotesPayable`	$158.40M	USD	Point-in-time
Total Notes Payable	`NotesPayable`	$181.29M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$6.24M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$6.58M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.47M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.24M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$470.86K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$432.69K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$105.28K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$144.07K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.66M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.85M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$1.11M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$204.70K	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`	$40.65K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$39.98K	USD	Point-in-time
Total Liabilities	`Liabilities`	$194.17M	USD	Point-in-time
Total Liabilities	`Liabilities`	$170.53M	USD	Point-in-time
Common stock, $.0001 par value per share, 28,000,000 shares authorized, 14,960,218 and 14,883,314 shares issued and outstanding, respectively	`CommonStockValue`	$1.49K	USD	Point-in-time
Common stock, $.0001 par value per share, 28,000,000 shares authorized, 14,960,218 and 14,883,314 shares issued and outstanding, respectively	`CommonStockValue`	$1.50K	USD	Point-in-time
Excess stock, $.0001 par value per share, 8,000,000 shares authorized, no shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Excess stock, $.0001 par value per share, 8,000,000 shares authorized, no shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Preferred Stock, $.0001 par value per share, 4,000,000 shares authorized Series A junior participating preferred stock, $.0001 par value per share, 200,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $.0001 par value per share, 4,000,000 shares authorized Series A junior participating preferred stock, $.0001 par value per share, 200,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$312.97M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$314.00M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-23.88M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-28.71M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-808.78K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$471.72K	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$284.49M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$289.57M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.51M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.65M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$286.99M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$292.22M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$462.74M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$481.16M	USD	Point-in-time

Income Statement 136 line items

Line Item	Tag	Value	Unit	Period
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$19.39M	USD	2 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$23.31M	USD	2 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$10.02M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$11.79M	USD	1 Quarter
Percentage rents	`PercentageRent`	-	USD	1 Quarter
Percentage rents	`PercentageRent`	$142.18K	USD	1 Quarter
Percentage rents	`PercentageRent`	$142.18K	USD	2 Qtrs
Percentage rents	`PercentageRent`	$19.36K	USD	2 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$579.53K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$946.61K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.97M	USD	2 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$1.12M	USD	2 Qtrs
Other income	`OtherIncome`	$53.38K	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	2 Qtrs
Other income	`OtherIncome`	$24.33K	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Total Revenues	`Revenues`	$25.48M	USD	2 Qtrs
Total Revenues	`Revenues`	$12.90M	USD	1 Quarter
Total Revenues	`Revenues`	$10.60M	USD	1 Quarter
Total Revenues	`Revenues`	$20.53M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$507.68K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$1.44M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$739.74K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$930.59K	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$956.82K	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$590.62K	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$264.31K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$458.29K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$107.28K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$213.95K	USD	2 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$214.55K	USD	2 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$106.97K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.08M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.21M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.12M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$5.10M	USD	2 Qtrs
Impairment charge	`ImpairmentOfRealEstate`	-	USD	1 Quarter
Impairment charge	`ImpairmentOfRealEstate`	$2.80M	USD	2 Qtrs
Impairment charge	`ImpairmentOfRealEstate`	$2.80M	USD	1 Quarter
Impairment charge	`ImpairmentOfRealEstate`	-	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$13.72M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$4.70M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$8.93M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$8.31M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$11.60M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$5.90M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$4.59M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$11.76M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$3.67M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$1.53M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.87M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$2.97M	USD	2 Qtrs
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.09M	USD	2 Qtrs
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.38M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$8.63M	USD	2 Qtrs
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$2.72M	USD	1 Quarter
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$122.75K	USD	2 Qtrs
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
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$14.57K	USD	2 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	-	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$153.44K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$341.80K	USD	2 Qtrs
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$137.32K	USD	2 Qtrs
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$1.29M	USD	2 Qtrs
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$153.44K	USD	1 Quarter
Net Income	`ProfitLoss`	$4.53M	USD	1 Quarter
Net Income	`ProfitLoss`	$8.23M	USD	2 Qtrs
Net Income	`ProfitLoss`	$2.72M	USD	1 Quarter
Net Income	`ProfitLoss`	$9.92M	USD	2 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$116.87K	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$61.64K	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`	$186.81K	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.41M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$9.66M	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$2.65M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$8.04M	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.18	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.65	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.33	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.54	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.10	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.01	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.01	USD	2 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.55	USD	2 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.75	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.53	USD	2 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.18	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.33	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.65	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.01	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.01	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.10	USD	2 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.54	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`	$0.75	USD	2 Qtrs
Net income	`ProfitLoss`	$4.53M	USD	1 Quarter
Net income	`ProfitLoss`	$8.23M	USD	2 Qtrs
Net income	`ProfitLoss`	$2.72M	USD	1 Quarter
Net income	`ProfitLoss`	$9.92M	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`	$-850.22K	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-1.31M	USD	2 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$1.87M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$11.48M	USD	2 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$6.92M	USD	2 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$5.84M	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$150.45K	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$157.07K	USD	2 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$298.49K	USD	2 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$42.34K	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$6.76M	USD	2 Qtrs
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$1.82M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$5.69M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$11.19M	USD	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.71M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.71M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.82M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.99M	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`	14.78M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.07M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.77M	shares	2 Qtrs

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$4.53M	USD	1 Quarter
Net income	`ProfitLoss`	$8.23M	USD	2 Qtrs
Net income	`ProfitLoss`	$2.72M	USD	1 Quarter
Net income	`ProfitLoss`	$9.92M	USD	2 Qtrs
Interest Capitalized For Real Estate Under Development	`InterestCapitalizedForRealEstateUnderDevelopment`	$113.55K	USD	2 Qtrs
Interest Capitalized For Real Estate Under Development	`InterestCapitalizedForRealEstateUnderDevelopment`	$328.34K	USD	2 Qtrs
Depreciation	`Depreciation`	$3.99M	USD	2 Qtrs
Depreciation	`Depreciation`	$3.39M	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$1.48M	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$1.21M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.04M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$924.99K	USD	2 Qtrs
Impairment charge	`AssetImpairmentCharges`	$2.80M	USD	2 Qtrs
Impairment charge	`AssetImpairmentCharges`	-	USD	2 Qtrs
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$122.75K	USD	2 Qtrs
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
Gain on sale of assets	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$946.35K	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-373.58K	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$530.92K	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-236.27K	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$210.33K	USD	2 Qtrs
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-285.05K	USD	2 Qtrs
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-190.81K	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`	$-38.18K	USD	2 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$85.18K	USD	2 Qtrs
Decrease in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-7.75K	USD	2 Qtrs
Decrease in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-667.00	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$14.23M	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$16.66M	USD	2 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireProductiveAssets`	$43.06M	USD	2 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireProductiveAssets`	$35.11M	USD	2 Qtrs
Development of real estate investments (including capitalized interest of $113,547 in 2014, and $328,336 in 2013)	`PaymentsForDevelopmentOfRealEstateInvestmentsAndOtherIncludingCapitalizedInterest`	$6.44M	USD	2 Qtrs
Development of real estate investments (including capitalized interest of $113,547 in 2014, and $328,336 in 2013)	`PaymentsForDevelopmentOfRealEstateInvestmentsAndOtherIncludingCapitalizedInterest`	$9.34M	USD	2 Qtrs
Payments of leasing costs	`PaymentsForLeasingCosts`	$9.36K	USD	2 Qtrs
Payments of leasing costs	`PaymentsForLeasingCosts`	-	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$4.97M	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$5.46M	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-44.04M	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-39.48M	USD	2 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$-14.53K	USD	2 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$44.80M	USD	2 Qtrs
Note payable borrowings	`ProceedsFromLinesOfCredit`	$46.89M	USD	2 Qtrs
Note payable borrowings	`ProceedsFromLinesOfCredit`	$54.31M	USD	2 Qtrs
Note payable repayments	`RepaymentsOfLinesOfCredit`	$57.20M	USD	2 Qtrs
Note payable repayments	`RepaymentsOfLinesOfCredit`	$13.02M	USD	2 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$10.97M	USD	2 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$1.71M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$10.00M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$12.54M	USD	2 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$292.00K	USD	2 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$281.57K	USD	2 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$122.08K	USD	2 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$144.07K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	-	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`	$9.91M	USD	2 Qtrs
Net Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-12.91M	USD	2 Qtrs
Net Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-44.83K	USD	2 Qtrs
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.54M	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`	$1.27M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.54M	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`	$3.40M	USD	2 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.33M	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`	$6.58M	USD	2 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$105.28K	USD	2 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	2 Qtrs

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$286.99M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$292.22M	USD	Point-in-time
Net income for the period January 1, 2014 to June 30, 2014	`ProfitLoss`	$4.53M	USD	1 Quarter
Net income for the period January 1, 2014 to June 30, 2014	`ProfitLoss`	$8.23M	USD	2 Qtrs
Net income for the period January 1, 2014 to June 30, 2014	`ProfitLoss`	$2.72M	USD	1 Quarter
Net income for the period January 1, 2014 to June 30, 2014	`ProfitLoss`	$9.92M	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$286.99M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$292.22M	USD	Point-in-time

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