10-Q Filing

AGREE REALTY CORP CIK: 917251 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001144204-14-064293`
Period End Date	20140930
Filing Date	20141031
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	adc-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 108 Income Statement 140 Cash Flow Statement 82 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`	$2.52M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$527.31K	USD	Point-in-time
Land	`Land`	$176.05M	USD	Point-in-time
Deferred costs, leasing, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$1.43M	USD	Point-in-time
Land	`Land`	$162.10M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$4.95M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$297.46M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$349.84M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.23M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$66.32M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$60.63M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	28.00M	shares	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$459.58M	USD	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
Common stock, shares, issued	`CommonStockSharesIssued`	14.96M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$6.96M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	14.88M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$12.48M	USD	Point-in-time
Property held for sale	`RealEstateHeldforsale`	-	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	14.96M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	14.88M	shares	Point-in-time
Property held for sale	`RealEstateHeldforsale`	$4.85M	USD	Point-in-time
Excess stock, par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Excess stock, par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$472.06M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$410.73M	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`	$1.27M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.40M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.82M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.54M	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at September 30, 2014 and December 31, 2013	`AccountsReceivableNet`	$4.02M	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at September 30, 2014 and December 31, 2013	`AccountsReceivableNet`	$3.26M	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
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Financing costs, net of accumulated amortization of $2,518,986 and $7,009,538 at September 30, 2014 and December 31, 2013, respectively	`DeferredFinanceCostsNet`	$3.17M	USD	Point-in-time
Financing costs, net of accumulated amortization of $2,518,986 and $7,009,538 at September 30, 2014 and December 31, 2013, respectively	`DeferredFinanceCostsNet`	$2.53M	USD	Point-in-time
Leasing costs, net of accumulated amortization of $527,306 and $1,425,186 at September 30, 2014 and December 31, 2013, respectively	`DeferredCostsLeasingNet`	$758.04K	USD	Point-in-time
Leasing costs, net of accumulated amortization of $527,306 and $1,425,186 at September 30, 2014 and December 31, 2013, respectively	`DeferredCostsLeasingNet`	$960.35K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Lease intangibles, net of accumulated amortization of $4,946,853 and $3,228,506 at September 30, 2014 and December 31, 2013, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$27.71M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Lease intangibles, net of accumulated amortization of $4,946,853 and $3,228,506 at September 30, 2014 and December 31, 2013, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$38.31M	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
Other Assets	`OtherAssets`	$3.22M	USD	Point-in-time
Other Assets	`OtherAssets`	$2.91M	USD	Point-in-time
Total Assets	`Assets`	$522.82M	USD	Point-in-time
Total Assets	`Assets`	$462.74M	USD	Point-in-time
Mortgage Notes Payable	`SecuredDebt`	$107.69M	USD	Point-in-time
Mortgage Notes Payable	`SecuredDebt`	$113.90M	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$9.50M	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$16.50M	USD	Point-in-time
Unsecured Term Loans	`LoansPayable`	$35.00M	USD	Point-in-time
Unsecured Term Loans	`LoansPayable`	$100.00M	USD	Point-in-time
Total Notes Payable	`NotesPayable`	$224.19M	USD	Point-in-time
Total Notes Payable	`NotesPayable`	$158.40M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$6.58M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$6.24M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.47M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.12M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$562.77K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$470.86K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$144.07K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.32M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.85M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$204.70K	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$690.19K	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`	$44.45K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$40.65K	USD	Point-in-time
Total Liabilities	`Liabilities`	$236.21M	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`	$314.52M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-23.88M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-30.29M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$471.72K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-98.15K	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$289.57M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$284.13M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.49M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.65M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$286.62M	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`	$522.82M	USD	Point-in-time

Income Statement 140 line items

Line Item	Tag	Value	Unit	Period
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$35.94M	USD	3 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$12.63M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$29.82M	USD	3 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$10.42M	USD	1 Quarter
Percentage rents	`PercentageRent`	$146.88K	USD	3 Qtrs
Percentage rents	`PercentageRent`	$19.36K	USD	3 Qtrs
Percentage rents	`PercentageRent`	$4.70K	USD	1 Quarter
Percentage rents	`PercentageRent`	-	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.01M	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$2.98M	USD	3 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$1.97M	USD	3 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$849.75K	USD	1 Quarter
Other income	`OtherIncome`	$1.55K	USD	3 Qtrs
Other income	`OtherIncome`	$114.46K	USD	1 Quarter
Other income	`OtherIncome`	$1.55K	USD	1 Quarter
Other income	`OtherIncome`	$167.84K	USD	3 Qtrs
Total Revenues	`Revenues`	$39.24M	USD	3 Qtrs
Total Revenues	`Revenues`	$11.27M	USD	1 Quarter
Total Revenues	`Revenues`	$13.76M	USD	1 Quarter
Total Revenues	`Revenues`	$31.80M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$1.54M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$612.27K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$2.21M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$773.65K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$1.29M	USD	3 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$308.97K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$899.60K	USD	3 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$337.81K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$339.88K	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$125.33K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$106.97K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$320.93K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.75M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.67M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.96M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$7.96M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.86M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.23M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.11M	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	$3.02M	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	-	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	$220.00K	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$19.78M	USD	3 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$4.73M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$6.06M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$13.66M	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$7.70M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$6.54M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$18.14M	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$19.45M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$4.60M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$6.11M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$1.63M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$2.44M	USD	1 Quarter
Loss on sale of assets	`GainsLossesOnSalesOfAssets`	-	USD	3 Qtrs
Loss on sale of assets	`GainsLossesOnSalesOfAssets`	$-292.65K	USD	1 Quarter
Loss on sale of assets	`GainsLossesOnSalesOfAssets`	$-292.65K	USD	3 Qtrs
Loss on sale of assets	`GainsLossesOnSalesOfAssets`	-	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.91M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.97M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$13.05M	USD	3 Qtrs
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$13.54M	USD	3 Qtrs
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$122.75K	USD	3 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	3 Qtrs
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	1 Quarter
(Loss) Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	-	USD	1 Quarter
(Loss) Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$77.95K	USD	3 Qtrs
(Loss) Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$-263.84K	USD	1 Quarter
(Loss) Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$14.57K	USD	3 Qtrs
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$1.02M	USD	3 Qtrs
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-263.84K	USD	1 Quarter
Total Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$137.32K	USD	3 Qtrs
Net Income	`ProfitLoss`	$14.57M	USD	3 Qtrs
Net Income	`ProfitLoss`	$13.19M	USD	3 Qtrs
Net Income	`ProfitLoss`	$4.97M	USD	1 Quarter
Net Income	`ProfitLoss`	$4.65M	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$299.58K	USD	3 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$378.69K	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`	$112.76K	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.53M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$14.19M	USD	3 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.85M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$12.89M	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.37	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.87	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$1.02	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.33	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.02	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.08	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.01	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.35	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.88	USD	3 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$1.10	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$1.02	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.33	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.86	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.37	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.01	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.02	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.08	USD	3 Qtrs
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.87	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`	$1.10	USD	3 Qtrs
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Net income	`ProfitLoss`	$14.57M	USD	3 Qtrs
Net income	`ProfitLoss`	$13.19M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.97M	USD	1 Quarter
Net income	`ProfitLoss`	$4.65M	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-549.98K	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$727.13K	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.01M	USD	3 Qtrs
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-583.11K	USD	3 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$15.58M	USD	3 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$5.69M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$4.10M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$12.61M	USD	3 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$286.34K	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`	$129.27K	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$12.32M	USD	3 Qtrs
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$3.99M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$15.17M	USD	3 Qtrs
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$5.56M	USD	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`	14.71M	shares	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`	14.71M	shares	1 Quarter
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`	14.78M	shares	3 Qtrs
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.95M	shares	3 Qtrs
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.06M	shares	1 Quarter

Cash Flow Statement 82 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$14.57M	USD	3 Qtrs
Net income	`ProfitLoss`	$13.19M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.97M	USD	1 Quarter
Net income	`ProfitLoss`	$4.65M	USD	1 Quarter
Real Estate Inventory, Capitalized Interest Costs	`RealEstateInventoryCapitalizedInterestCosts`	$438.84K	USD	Point-in-time
Real Estate Inventory, Capitalized Interest Costs	`RealEstateInventoryCapitalizedInterestCosts`	$221.41K	USD	Point-in-time
Depreciation	`Depreciation`	$5.13M	USD	3 Qtrs
Depreciation	`Depreciation`	$6.15M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$2.59M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$1.83M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.39M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.56M	USD	3 Qtrs
Impairment charge	`ImpairmentOfRealEstate`	$450.00K	USD	3 Qtrs
Impairment charge	`ImpairmentOfRealEstate`	$220.00K	USD	1 Quarter
Impairment charge	`ImpairmentOfRealEstate`	$450.00K	USD	1 Quarter
Impairment charge	`ImpairmentOfRealEstate`	$3.02M	USD	3 Qtrs
Loss (Gain) on sale of assets	`GainLossOnDispositionOfAssets1`	$-169.91K	USD	3 Qtrs
Loss (Gain) on sale of assets	`GainLossOnDispositionOfAssets1`	$946.35K	USD	3 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$201.05K	USD	3 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$755.78K	USD	3 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-170.06K	USD	3 Qtrs
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$130.96K	USD	3 Qtrs
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-549.02K	USD	3 Qtrs
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-533.63K	USD	3 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-347.54K	USD	3 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-347.54K	USD	3 Qtrs
Increase in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$91.91K	USD	3 Qtrs
Increase in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$36.48K	USD	3 Qtrs
Decrease (increase) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-13.09K	USD	3 Qtrs
Decrease (increase) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$3.80K	USD	3 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$21.22M	USD	3 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$25.31M	USD	3 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireRealEstate`	$70.21M	USD	3 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireRealEstate`	$70.95M	USD	3 Qtrs
Development of real estate investments (including capitalized interest of $221,410 in 2014, and $438,843 in 2013)	`PaymentsToDevelopRealEstateAssets`	$13.10M	USD	3 Qtrs
Development of real estate investments (including capitalized interest of $221,410 in 2014, and $438,843 in 2013)	`PaymentsToDevelopRealEstateAssets`	$9.30M	USD	3 Qtrs
Payments of leasing costs	`PaymentsForLeasingCosts`	$302.47K	USD	3 Qtrs
Payments of leasing costs	`PaymentsForLeasingCosts`	$8.95K	USD	3 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$6.74M	USD	3 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$5.46M	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-74.06M	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-77.61M	USD	3 Qtrs
Proceeds from common stock offering, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$44.80M	USD	3 Qtrs
Proceeds from common stock offering, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$-14.53K	USD	3 Qtrs
Note payable borrowings	`ProceedsFromLinesOfCredit`	$95.62M	USD	3 Qtrs
Note payable borrowings	`ProceedsFromLinesOfCredit`	$86.89M	USD	3 Qtrs
Note payable repayments	`RepaymentsOfLinesOfCredit`	$90.42M	USD	3 Qtrs
Note payable repayments	`RepaymentsOfLinesOfCredit`	$88.62M	USD	3 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$2.59M	USD	3 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$11.84M	USD	3 Qtrs
Unsecured term loan proceeds	`ProceedsFromIssuanceOfUnsecuredDebt`	$65.00M	USD	3 Qtrs
Unsecured term loan proceeds	`ProceedsFromIssuanceOfUnsecuredDebt`	$35.00M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$15.43M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$18.97M	USD	3 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$441.48K	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`	$144.07K	USD	3 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$1.42M	USD	3 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$311.52K	USD	3 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$57.40M	USD	3 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$39.17M	USD	3 Qtrs
Net Decrease (Increase) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.55M	USD	3 Qtrs
Net Decrease (Increase) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.13M	USD	3 Qtrs
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.40M	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`	$14.54M	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`	$1.40M	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`	$14.54M	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`	$5.38M	USD	3 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.39M	USD	3 Qtrs
Shares issued under Stock Incentive Plan	`StockIssued1`	$2.33M	USD	3 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsDeclaredAndUnpaid`	$6.58M	USD	3 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsDeclaredAndUnpaid`	$5.57M	USD	3 Qtrs
Real estate acquisitions financed with debt assumption	`RealEstateAcquisitionsFinancedWithDebtAssumption`	$5.63M	USD	3 Qtrs
Real estate acquisitions financed with debt assumption	`RealEstateAcquisitionsFinancedWithDebtAssumption`	-	USD	3 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$322.72K	USD	3 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	3 Qtrs

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$286.62M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$292.22M	USD	Point-in-time
Net income for the period January 1, 2014 to September 30, 2014	`ProfitLoss`	$14.57M	USD	3 Qtrs
Net income for the period January 1, 2014 to September 30, 2014	`ProfitLoss`	$13.19M	USD	3 Qtrs
Net income for the period January 1, 2014 to September 30, 2014	`ProfitLoss`	$4.97M	USD	1 Quarter
Net income for the period January 1, 2014 to September 30, 2014	`ProfitLoss`	$4.65M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$286.62M	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.