10-Q Filing

AGREE REALTY CORP CIK: 917251 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001144204-15-027025`
Period End Date	20150331
Filing Date	20150501
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	adc-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 100 Income Statement 67 Cash Flow Statement 67 Stockholders Equity 13

Balance Sheet 100 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
Deferred financing costs, accumulated amortization (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$2.89M	USD	Point-in-time
Deferred financing costs, accumulated amortization (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$2.69M	USD	Point-in-time
Deferred leasing costs, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$543.96K	USD	Point-in-time
Land	`Land`	$203.98M	USD	Point-in-time
Deferred leasing costs, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$573.31K	USD	Point-in-time
Land	`Land`	$195.09M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.72M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$393.83M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$6.67M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$434.29M	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
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$61.64M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$59.09M	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$576.63M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	28.00M	shares	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$529.83M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	28.00M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$229.24K	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	17.60M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	17.54M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$294.36K	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	17.54M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	17.60M	shares	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$530.06M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$576.93M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.40M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.54M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.92M	USD	Point-in-time
Excess stock, par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$826.22K	USD	Point-in-time
Excess stock, par value (in dollars per share)	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	8.00M	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at March 31, 2015 and December 31, 2014	`AccountsReceivableNet`	$4.92M	USD	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	8.00M	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at March 31, 2015 and December 31, 2014	`AccountsReceivableNet`	$4.51M	USD	Point-in-time
Excess stock, shares issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Excess stock, shares issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Excess stock, shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Financing costs, net of accumulated amortization of $2,887,984 and $2,690,005 at March 31, 2015 and December 31, 2014, respectively	`DeferredFinanceCostsNet`	$3.01M	USD	Point-in-time
Excess stock, shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Financing costs, net of accumulated amortization of $2,887,984 and $2,690,005 at March 31, 2015 and December 31, 2014, respectively	`DeferredFinanceCostsNet`	$2.81M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Leasing costs, net of accumulated amortization of $573,311 and $543,957 at March 31, 2015 and December 31, 2014, respectively	`DeferredCostsLeasingNet`	$753.99K	USD	Point-in-time
Leasing costs, net of accumulated amortization of $573,311 and $543,957 at March 31, 2015 and December 31, 2014, respectively	`DeferredCostsLeasingNet`	$783.34K	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 $6,671,752 and $5,719,085 at March 31, 2015 and December 31, 2014, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$56.52M	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $6,671,752 and $5,719,085 at March 31, 2015 and December 31, 2014, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$47.48M	USD	Point-in-time
Other Assets	`OtherAssets`	$3.19M	USD	Point-in-time
Other Assets	`OtherAssets`	$2.35M	USD	Point-in-time
Total Assets	`Assets`	$653.05M	USD	Point-in-time
Total Assets	`Assets`	$593.58M	USD	Point-in-time
Mortgages Notes Payable	`SecuredDebt`	$103.68M	USD	Point-in-time
Mortgages Notes Payable	`SecuredDebt`	$106.76M	USD	Point-in-time
Unsecured Term Loans	`UnsecuredDebt`	$100.00M	USD	Point-in-time
Unsecured Term Loans	`UnsecuredDebt`	$100.00M	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$79.50M	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$15.00M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$8.07M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$8.05M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$888.18K	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.00M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$721.46K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$632.08K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$24.45K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$200.30K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.46M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.68M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$2.38M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$4.19M	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`	$36.16K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$36.16K	USD	Point-in-time
Total Liabilities	`Liabilities`	$300.18M	USD	Point-in-time
Total Liabilities	`Liabilities`	$237.55M	USD	Point-in-time
Common stock, $.0001 par value, 28,000,000 shares authorized, 17,602,615 and 17,539,946 shares issued and outstanding, respectively	`CommonStockValue`	$1.76K	USD	Point-in-time
Common stock, $.0001 par value, 28,000,000 shares authorized, 17,602,615 and 17,539,946 shares issued and outstanding, respectively	`CommonStockValue`	$1.75K	USD	Point-in-time
Excess stock, $.0001 par value, 8,000,000 shares authorized, no shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Excess stock, $.0001 par value, 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, 200,000 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, 200,000 authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$388.69M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$388.26M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-32.58M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-34.14M	USD	Point-in-time
Accumulated other comprehensive (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.06M	USD	Point-in-time
Accumulated other comprehensive (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.03M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$350.52M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$353.62M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.42M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.35M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$352.87M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$356.04M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$653.05M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$593.58M	USD	Point-in-time

Income Statement 67 line items

Line Item	Tag	Value	Unit	Period
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$14.55M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$11.52M	USD	1 Quarter
Percentage rents	`PercentageRent`	$9.81K	USD	1 Quarter
Percentage rents	`PercentageRent`	-	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.18M	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.02M	USD	1 Quarter
Other income	`OtherIncome`	$29.04K	USD	1 Quarter
Other income	`OtherIncome`	$1.21K	USD	1 Quarter
Total Revenues	`Revenues`	$12.58M	USD	1 Quarter
Total Revenues	`Revenues`	$15.74M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$762.92K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$697.23K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$498.53K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$571.39K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$131.86K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$107.28K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.67M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.55M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.51M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$6.69M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$5.41M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$7.17M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$9.06M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.79M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$2.46M	USD	1 Quarter
Gain on sale of assets	`GainsLossesOnSalesOfAssets`	-	USD	1 Quarter
Gain on sale of assets	`GainsLossesOnSalesOfAssets`	$79.10K	USD	1 Quarter
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-179.87K	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$6.49M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$5.37M	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	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$14.57K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	-	USD	1 Quarter
Net Income	`ProfitLoss`	$6.49M	USD	1 Quarter
Net Income	`ProfitLoss`	$5.51M	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$125.17K	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$125.82K	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$6.37M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$5.38M	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.36	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.37	USD	1 Quarter
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`	$0.37	USD	1 Quarter
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.37	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.37	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.36	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.01	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.37	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.37	USD	1 Quarter
Net income	`ProfitLoss`	$6.49M	USD	1 Quarter
Net income	`ProfitLoss`	$5.51M	USD	1 Quarter
Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-2.01M	USD	1 Quarter
Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-460.03K	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$4.48M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$5.05M	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$86.83K	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$114.73K	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$4.93M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$4.40M	USD	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.70M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.37M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.42M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.75M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$6.49M	USD	1 Quarter
Net income	`ProfitLoss`	$5.51M	USD	1 Quarter
Real Estate Inventory, Capitalized Interest Costs	`RealEstateInventoryCapitalizedInterestCosts`	$55.18K	USD	Point-in-time
Real Estate Inventory, Capitalized Interest Costs	`RealEstateInventoryCapitalizedInterestCosts`	$1.00K	USD	Point-in-time
Depreciation	`Depreciation`	$1.97M	USD	1 Quarter
Depreciation	`Depreciation`	$2.57M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$1.15M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$728.83K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$527.71K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$523.96K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-179.87K	USD	1 Quarter
Debt extinguishment costs	`PaymentsOfDebtExtinguishmentCosts`	$150.08K	USD	1 Quarter
Debt extinguishment costs	`PaymentsOfDebtExtinguishmentCosts`	-	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	$79.10K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	$122.75K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$415.40K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$42.30K	USD	1 Quarter
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$826.91K	USD	1 Quarter
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-845.58K	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-236.71K	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.12M	USD	1 Quarter
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-115.84K	USD	1 Quarter
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-115.84K	USD	1 Quarter
Decrease in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-89.38K	USD	1 Quarter
Decrease in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-10.84K	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$9.01M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$8.17M	USD	1 Quarter
Acquisition of real estate investments	`PaymentsToAcquireRealEstate`	$21.96M	USD	1 Quarter
Acquisition of real estate investments	`PaymentsToAcquireRealEstate`	$60.26M	USD	1 Quarter
Development of real estate investments and other (including capitalized interest of $1,001 in 2015 and $55,182 in 2014)	`PaymentsToDevelopRealEstateAssets`	$4.07M	USD	1 Quarter
Development of real estate investments and other (including capitalized interest of $1,001 in 2015 and $55,182 in 2014)	`PaymentsToDevelopRealEstateAssets`	$272.32K	USD	1 Quarter
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$4.97M	USD	1 Quarter
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$975.64K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.06M	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-59.56M	USD	1 Quarter
Proceeds from common stock offering, net	`PaymentForIssuanceOfCommonStockNetOfProceeds`	$14.53K	USD	1 Quarter
Proceeds from common stock offering, net	`PaymentForIssuanceOfCommonStockNetOfProceeds`	$94.63K	USD	1 Quarter
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$64.50M	USD	1 Quarter
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$16.38M	USD	1 Quarter
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	$9.89M	USD	1 Quarter
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$3.08M	USD	1 Quarter
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$906.23K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$6.10M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$7.89M	USD	1 Quarter
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$156.43K	USD	1 Quarter
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$142.52K	USD	1 Quarter
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$144.07K	USD	1 Quarter
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$200.30K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-821.25K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$53.07M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.71M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.52M	USD	1 Quarter
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.40M	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`	$7.92M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$826.22K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.40M	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`	$7.92M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$826.22K	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$2.37M	USD	1 Quarter
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$1.63M	USD	1 Quarter
Shares issued under equity incentive plans	`StockIssued1`	$2.33M	USD	1 Quarter
Shares issued under equity incentive plans	`StockIssued1`	$2.46M	USD	1 Quarter
Dividends and limited partners' distributions declared and unpaid	`Dividends`	$8.08M	USD	1 Quarter
Dividends and limited partners' distributions declared and unpaid	`Dividends`	$6.58M	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$352.87M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$356.04M	USD	Point-in-time
Issuance of common stock, net of issuance costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$94.63K	USD	1 Quarter
Issuance of restricted stock under the Omnibus Incentive Plan	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$7.00	USD	1 Quarter
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	$1.00	USD	1 Quarter
Vesting of restricted stock	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$523.96K	USD	1 Quarter
Dividends and distributions declared for the period	`Dividends`	$8.08M	USD	1 Quarter
Dividends and distributions declared for the period	`Dividends`	$6.58M	USD	1 Quarter
Other comprehensive income (loss) - change in fair value of interest rate swaps	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-2.01M	USD	1 Quarter
Net income	`ProfitLoss`	$6.49M	USD	1 Quarter
Net income	`ProfitLoss`	$5.51M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$352.87M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$356.04M	USD	Point-in-time

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