10-Q Filing

AGREE REALTY CORP CIK: 917251 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001144204-15-061900`
Period End Date	20150930
Filing Date	20151030
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	adc-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 140 Cash Flow Statement 88 Stockholders Equity 14

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Land	`Land`	$209.69M	USD	Point-in-time
Land	`Land`	$195.09M	USD	Point-in-time
Allowance for doubtful accounts receivable (in dollars)	`AllowanceForDoubtfulAccountsReceivable`	$35.00K	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$489.57M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$393.83M	USD	Point-in-time
Allowance for doubtful accounts receivable (in dollars)	`AllowanceForDoubtfulAccountsReceivable`	$35.00K	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$59.09M	USD	Point-in-time
Deferred financing costs, accumulated amortization (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$2.69M	USD	Point-in-time
Deferred financing costs, accumulated amortization (in dollars)	`AccumulatedAmortizationDeferredFinanceCosts`	$3.25M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$53.87M	USD	Point-in-time
Deferred leasing costs, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$529.87K	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$645.39M	USD	Point-in-time
Deferred leasing costs, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$543.96K	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$529.83M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.72M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$9.53M	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$4.92M	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$229.24K	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$530.06M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$650.31M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	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`	$1.40M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	28.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.38M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	28.00M	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at September 30, 2015 and December 31, 2014	`AccountsReceivableNet`	$6.14M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	18.89M	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at September 30, 2015 and December 31, 2014	`AccountsReceivableNet`	$4.51M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	17.54M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	18.89M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	17.54M	shares	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 $3,251,313 and $2,690,005 at September 30, 2015 and December 31, 2014, respectively	`DeferredFinanceCostsNet`	$3.01M	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 $3,251,313 and $2,690,005 at September 30, 2015 and December 31, 2014, respectively	`DeferredFinanceCostsNet`	$3.33M	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
Leasing costs, net of accumulated amortization of $529,866 and $543,957 at September 30, 2015 and December 31, 2014, respectively	`DeferredCostsLeasingNet`	$688.20K	USD	Point-in-time
Leasing costs, net of accumulated amortization of $529,866 and $543,957 at September 30, 2015 and December 31, 2014, respectively	`DeferredCostsLeasingNet`	$783.34K	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $9,531,410 and $5,719,085 at September 30, 2015 and December 31, 2014, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$65.57M	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $9,531,410 and $5,719,085 at September 30, 2015 and December 31, 2014, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$47.48M	USD	Point-in-time
Other Assets	`OtherAssets`	$2.35M	USD	Point-in-time
Other Assets	`OtherAssets`	$1.82M	USD	Point-in-time
Total Assets	`Assets`	$749.24M	USD	Point-in-time
Total Assets	`Assets`	$593.58M	USD	Point-in-time
Mortgage Notes Payable	`SecuredDebt`	$102.30M	USD	Point-in-time
Mortgage 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
Senior Unsecured Notes	`SeniorNotes`	$100.00M	USD	Point-in-time
Senior Unsecured Notes	`SeniorNotes`	-	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$15.00M	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$27.00M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$8.94M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$8.05M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$656.49K	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.00M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$1.97M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$721.46K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$200.30K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$2.20K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.91M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$2.68M	USD	Point-in-time
Interest Rate Swaps	`InterestRateDerivativeLiabilitiesAtFairValue`	$5.04M	USD	Point-in-time
Interest Rate Swaps	`InterestRateDerivativeLiabilitiesAtFairValue`	$2.38M	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`	$28.61K	USD	Point-in-time
Total Liabilities	`Liabilities`	$237.55M	USD	Point-in-time
Total Liabilities	`Liabilities`	$349.55M	USD	Point-in-time
Common stock, $.0001 par value, 28,000,000 shares authorized, 18,888,412 and 17,539,946 shares issued and outstanding, respectively	`CommonStockValue`	$1.75K	USD	Point-in-time
Common stock, $.0001 par value, 28,000,000 shares authorized, 18,888,412 and 17,539,946 shares issued and outstanding, respectively	`CommonStockValue`	$1.89K	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`	$388.26M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$428.58M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-32.58M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-26.45M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.93M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.06M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$397.20M	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`	$2.49M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$399.68M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$356.04M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$593.58M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$749.24M	USD	Point-in-time

Income Statement 140 line items

Line Item	Tag	Value	Unit	Period
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$12.63M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$35.94M	USD	3 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$47.26M	USD	3 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$16.74M	USD	1 Quarter
Percentage rents	`PercentageRent`	$188.75K	USD	3 Qtrs
Percentage rents	`PercentageRent`	$146.88K	USD	3 Qtrs
Percentage rents	`PercentageRent`	$4.70K	USD	1 Quarter
Percentage rents	`PercentageRent`	$37.92K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$2.98M	USD	3 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$970.55K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.01M	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$3.25M	USD	3 Qtrs
Other income	`OtherIncome`	$114.46K	USD	1 Quarter
Other income	`OtherIncome`	$115.24K	USD	3 Qtrs
Other income	`OtherIncome`	$105.70K	USD	1 Quarter
Other income	`OtherIncome`	$167.84K	USD	3 Qtrs
Total Revenues	`Revenues`	$13.76M	USD	1 Quarter
Total Revenues	`Revenues`	$50.81M	USD	3 Qtrs
Total Revenues	`Revenues`	$39.24M	USD	3 Qtrs
Total Revenues	`Revenues`	$17.85M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$2.21M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$2.34M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$773.65K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$715.68K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$424.30K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$1.29M	USD	3 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$337.81K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$1.41M	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$442.86K	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$125.33K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$173.71K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$339.88K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$5.18M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.77M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.75M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.96M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$13.20M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$7.96M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$5.53M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.86M	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	-	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	$220.00K	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	$3.02M	USD	3 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$19.78M	USD	3 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$6.06M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$8.61M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$22.57M	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$7.70M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$9.24M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$19.45M	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$28.24M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$8.36M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$2.44M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$2.96M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$6.11M	USD	3 Qtrs
Gain (Loss) on sale of assets	`GainsLossesOnSalesOfAssets`	$12.13M	USD	3 Qtrs
Gain (Loss) on sale of assets	`GainsLossesOnSalesOfAssets`	$8.60M	USD	1 Quarter
Gain (Loss) on sale of assets	`GainsLossesOnSalesOfAssets`	$-292.65K	USD	1 Quarter
Gain (Loss) on sale of assets	`GainsLossesOnSalesOfAssets`	$-292.65K	USD	3 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-179.87K	USD	3 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$31.84M	USD	3 Qtrs
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.97M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$14.88M	USD	1 Quarter
Income From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$13.05M	USD	3 Qtrs
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	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	3 Qtrs
Gain on sale of assets from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	3 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	-	USD	3 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	-	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$14.57K	USD	3 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	-	USD	1 Quarter
Net Income	`ProfitLoss`	$31.84M	USD	3 Qtrs
Net Income	`ProfitLoss`	$13.19M	USD	3 Qtrs
Net Income	`ProfitLoss`	$4.97M	USD	1 Quarter
Net Income	`ProfitLoss`	$14.88M	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`	$112.76K	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$607.85K	USD	3 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$280.80K	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$12.89M	USD	3 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$31.23M	USD	3 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$14.60M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.85M	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.87	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.81	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.33	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$1.77	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.01	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	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`	$1.77	USD	3 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.88	USD	3 Qtrs
Earnings Per Share, Basic (in dollars per share)	`EarningsPerShareBasic`	$0.81	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.86	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.33	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$1.76	USD	3 Qtrs
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.81	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.01	USD	3 Qtrs
Discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	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`	$0.33	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.81	USD	1 Quarter
Earnings Per Share, Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.76	USD	3 Qtrs
Net income	`ProfitLoss`	$31.84M	USD	3 Qtrs
Net income	`ProfitLoss`	$13.19M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.97M	USD	1 Quarter
Net income	`ProfitLoss`	$14.88M	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-2.54M	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-583.11K	USD	3 Qtrs
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-2.93M	USD	3 Qtrs
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$727.13K	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$5.69M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$28.91M	USD	3 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$12.61M	USD	3 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$12.34M	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$231.07K	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$552.11K	USD	3 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$129.27K	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest`	$286.34K	USD	3 Qtrs
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$28.35M	USD	3 Qtrs
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$12.32M	USD	3 Qtrs
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$12.11M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$5.56M	USD	1 Quarter
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`	17.65M	shares	3 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`	18.01M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.72M	shares	3 Qtrs
Weighted Average Number of Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.06M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.78M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.78M	shares	3 Qtrs

Cash Flow Statement 88 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$31.84M	USD	3 Qtrs
Net income	`ProfitLoss`	$13.19M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.97M	USD	1 Quarter
Net income	`ProfitLoss`	$14.88M	USD	1 Quarter
Real Estate Inventory, Capitalized Interest Costs	`RealEstateInventoryCapitalizedInterestCosts`	$16.69K	USD	Point-in-time
Real Estate Inventory, Capitalized Interest Costs	`RealEstateInventoryCapitalizedInterestCosts`	$221.41K	USD	Point-in-time
Depreciation	`Depreciation`	$6.15M	USD	3 Qtrs
Depreciation	`Depreciation`	$8.76M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$2.59M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$4.42M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.52M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.56M	USD	3 Qtrs
Impairment charge	`ImpairmentOfRealEstate`	-	USD	3 Qtrs
Impairment charge	`ImpairmentOfRealEstate`	$3.02M	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-179.87K	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Debt extinguishment costs	`PaymentsOfDebtExtinguishmentCosts`	$150.08K	USD	3 Qtrs
Debt extinguishment costs	`PaymentsOfDebtExtinguishmentCosts`	-	USD	3 Qtrs
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	$-169.91K	USD	3 Qtrs
Gain (loss) on sale of assets	`GainLossOnDispositionOfAssets1`	$12.12M	USD	3 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$755.78K	USD	3 Qtrs
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.63M	USD	3 Qtrs
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-170.06K	USD	3 Qtrs
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-471.34K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-533.63K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$229.07K	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`	$1.25M	USD	3 Qtrs
Increase in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$91.91K	USD	3 Qtrs
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-7.55K	USD	3 Qtrs
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$3.80K	USD	3 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$34.41M	USD	3 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$25.31M	USD	3 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireRealEstate`	$161.69M	USD	3 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireRealEstate`	$70.95M	USD	3 Qtrs
Development of real estate investments and other (including capitalized interest of $16,694 in 2015 and $221,410 in 2014)	`PaymentsToDevelopRealEstateAssets`	$13.10M	USD	3 Qtrs
Development of real estate investments and other (including capitalized interest of $16,694 in 2015 and $221,410 in 2014)	`PaymentsToDevelopRealEstateAssets`	$5.35M	USD	3 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$302.47K	USD	3 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$66.41K	USD	3 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$6.74M	USD	3 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$28.12M	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-138.99M	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-77.61M	USD	3 Qtrs
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$-14.53K	USD	3 Qtrs
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$38.80M	USD	3 Qtrs
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$95.62M	USD	3 Qtrs
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$128.00M	USD	3 Qtrs
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	$116.00M	USD	3 Qtrs
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	$88.62M	USD	3 Qtrs
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$11.84M	USD	3 Qtrs
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$4.47M	USD	3 Qtrs
Term loan payable proceeds	`ProceedsFromIssuanceOfUnsecuredDebt`	-	USD	3 Qtrs
Term loan payable proceeds	`ProceedsFromIssuanceOfUnsecuredDebt`	$65.00M	USD	3 Qtrs
Senior unsecured notes proceeds	`ProceedsFromUnsecuredNotesPayable`	-	USD	3 Qtrs
Senior unsecured notes proceeds	`ProceedsFromUnsecuredNotesPayable`	$100.00M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$24.21M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$18.97M	USD	3 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$441.48K	USD	3 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$474.50K	USD	3 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$200.30K	USD	3 Qtrs
Repayments of payables for capital expenditures	`RepaymentsOfOtherDebt`	$144.07K	USD	3 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$886.40K	USD	3 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$1.42M	USD	3 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$39.17M	USD	3 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$120.56M	USD	3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.13M	USD	3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$15.98M	USD	3 Qtrs
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`	$1.40M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.38M	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`	$1.40M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.38M	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$9.14M	USD	3 Qtrs
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$5.38M	USD	3 Qtrs
Shares issued under equity incentive plans	`StockIssued1`	$2.46M	USD	3 Qtrs
Shares issued under equity incentive plans	`StockIssued1`	$2.33M	USD	3 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsCommonStock`	$6.58M	USD	3 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsCommonStock`	$8.94M	USD	3 Qtrs
Real estate acquisitions financed with debt assumption	`RealEstateAcquisitionsFinancedWithDebtAssumption`	-	USD	3 Qtrs
Real estate acquisitions financed with debt assumption	`RealEstateAcquisitionsFinancedWithDebtAssumption`	$5.63M	USD	3 Qtrs
Real estate investment financed with accounts payable	`RealEstateInvestmentFinancedWithAccountsPayable`	-	USD	3 Qtrs
Real estate investment financed with accounts payable	`RealEstateInvestmentFinancedWithAccountsPayable`	$2.20K	USD	3 Qtrs

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$399.68M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$356.04M	USD	Point-in-time
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$38.80M	USD	3 Qtrs
Issuance of restricted stock under the Omnibus Incentive Plan	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$7.00	USD	3 Qtrs
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	$2.00	USD	3 Qtrs
Vesting of restricted stock	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$1.52M	USD	3 Qtrs
Dividends and distributions declared for the period	`Dividends`	$25.57M	USD	3 Qtrs
Other comprehensive income (loss) - change in fair value of interest rate swaps	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-2.93M	USD	3 Qtrs
Net income	`ProfitLoss`	$31.84M	USD	3 Qtrs
Net income	`ProfitLoss`	$13.19M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.97M	USD	1 Quarter
Net income	`ProfitLoss`	$14.88M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$399.68M	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.