10-Q Filing

AGREE REALTY CORP CIK: 917251 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-114717`
Period End Date	20160630
Filing Date	20160727
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	adc-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 108 Cash Flow Statement 86 Stockholders Equity 16

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Land	`Land`	$225.27M	USD	Point-in-time
Land	`Land`	$284.94M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$628.22M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$526.91M	USD	Point-in-time
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 leasing costs, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$553.50K	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$62.94M	USD	Point-in-time
Deferred leasing costs, accumulated amortization (in dollars)	`DeferredCostsLeasingAccumulatedAmortization`	$599.22K	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$56.40M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$14.29M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$10.58M	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$695.78M	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$850.21M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$4.09M	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$3.66M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$699.45M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$854.30M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	20.64M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	23.64M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.03M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.71M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.87M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.40M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	20.64M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	23.64M	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at June 30, 2016 and December 31, 2015	`AccountsReceivableNet`	$9.97M	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 for possible losses at June 30, 2016 and December 31, 2015	`AccountsReceivableNet`	$7.42M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Credit facility finance costs, net of accumulated amortization of $1,636,680 and $1,531,671 at June 30, 2016 and December 31, 2015, respectively	`DeferredFinanceCostsNet`	$542.79K	USD	Point-in-time
Credit facility finance costs, net of accumulated amortization of $1,636,680 and $1,531,671 at June 30, 2016 and December 31, 2015, respectively	`DeferredFinanceCostsNet`	$437.78K	USD	Point-in-time
Leasing costs, net of accumulated amortization of $599,218 and $553,502 at June 30, 2016 and December 31, 2015, respectively	`DeferredCostsLeasingNet`	$1.14M	USD	Point-in-time
Leasing costs, net of accumulated amortization of $599,218 and $553,502 at June 30, 2016 and December 31, 2015, respectively	`DeferredCostsLeasingNet`	$664.57K	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $14,290,255 and $10,577,794 at June 30, 2016 and December 31, 2015, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$100.51M	USD	Point-in-time
Lease intangibles, net of accumulated amortization of $14,290,255 and $10,577,794 at June 30, 2016 and December 31, 2015, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$76.55M	USD	Point-in-time
Accumulated Amortization, Deferred Finance Costs	`AccumulatedAmortizationDeferredFinanceCosts`	$1.53M	USD	Point-in-time
Accumulated Amortization, Deferred Finance Costs	`AccumulatedAmortizationDeferredFinanceCosts`	$1.64M	USD	Point-in-time
Other Assets	`OtherAssets`	$2.70M	USD	Point-in-time
Other Assets	`OtherAssets`	$2.57M	USD	Point-in-time
Total Assets	`Assets`	$973.10M	USD	Point-in-time
Total Assets	`Assets`	$789.91M	USD	Point-in-time
Mortgage Notes Payable	`SecuredDebt`	$100.39M	USD	Point-in-time
Mortgage Notes Payable	`SecuredDebt`	$90.46M	USD	Point-in-time
Unsecured Term Loans	`UnsecuredDebt`	$99.39M	USD	Point-in-time
Unsecured Term Loans	`UnsecuredDebt`	$99.42M	USD	Point-in-time
Senior Unsecured Notes	`SeniorNotes`	$99.20M	USD	Point-in-time
Senior Unsecured Notes	`SeniorNotes`	$99.16M	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$18.00M	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$98.00M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$11.51M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$9.76M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$308.95K	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$540.64K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$962.83K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$878.05K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$289.37K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$122.50K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$5.73M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$3.93M	USD	Point-in-time
Interest Rate Swaps	`InterestRateDerivativeLiabilitiesAtFairValue`	$3.30M	USD	Point-in-time
Interest Rate Swaps	`InterestRateDerivativeLiabilitiesAtFairValue`	$7.82M	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`	$28.61K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$93.72K	USD	Point-in-time
Total Liabilities	`Liabilities`	$336.29M	USD	Point-in-time
Total Liabilities	`Liabilities`	$414.42M	USD	Point-in-time
Common stock, $.0001 par value, 45,000,000 shares authorized, 23,637,843 and 20,637,301 shares issued and outstanding, respectively	`CommonStockValue`	$2.36K	USD	Point-in-time
Common stock, $.0001 par value, 45,000,000 shares authorized, 23,637,843 and 20,637,301 shares issued and outstanding, respectively	`CommonStockValue`	$2.06K	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`	$595.11M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$482.51M	USD	Point-in-time
Dividends in excess of net income	`AccumulatedDistributionsInExcessOfNetIncome`	$31.14M	USD	Point-in-time
Dividends in excess of net income	`AccumulatedDistributionsInExcessOfNetIncome`	$28.26M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.13M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.67M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$556.30M	USD	Point-in-time
Total Stockholders' Equity - Agree Realty Corporation	`StockholdersEquity`	$451.12M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.39M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.50M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$453.62M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$558.69M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$789.91M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$973.10M	USD	Point-in-time

Income Statement 108 line items

Line Item	Tag	Value	Unit	Period
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$15.97M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$19.91M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$30.53M	USD	2 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$38.40M	USD	2 Qtrs
Percentage rents	`PercentageRent`	$150.83K	USD	2 Qtrs
Percentage rents	`PercentageRent`	$141.02K	USD	1 Quarter
Percentage rents	`PercentageRent`	$189.85K	USD	2 Qtrs
Percentage rents	`PercentageRent`	$6.51K	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$3.52M	USD	2 Qtrs
Operating cost reimbursement	`TenantReimbursements`	$1.93M	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$1.10M	USD	1 Quarter
Operating cost reimbursement	`TenantReimbursements`	$2.28M	USD	2 Qtrs
Other income	`OtherIncome`	$-48.30K	USD	2 Qtrs
Other income	`OtherIncome`	$-8.71K	USD	1 Quarter
Other income	`OtherIncome`	$8.33K	USD	1 Quarter
Other income	`OtherIncome`	$9.54K	USD	2 Qtrs
Total Revenues	`Revenues`	$21.84M	USD	1 Quarter
Total Revenues	`Revenues`	$42.07M	USD	2 Qtrs
Total Revenues	`Revenues`	$32.96M	USD	2 Qtrs
Total Revenues	`Revenues`	$17.22M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$863.36K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$2.56M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$1.63M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$1.44M	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$415.71K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$987.10K	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$1.50M	USD	2 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$928.39K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$163.28K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$269.14K	USD	2 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$137.28K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$326.55K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.41M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.09M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.04M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.74M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$10.75M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$7.67M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$5.66M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$19.23M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$10.24M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$7.28M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$13.96M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$9.94M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$11.61M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$22.84M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$19.00M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$2.93M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$7.15M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$3.50M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$5.39M	USD	2 Qtrs
Gain (loss) on sale of assets	`GainsLossesOnSalesOfAssets`	$2.72M	USD	1 Quarter
Gain (loss) on sale of assets	`GainsLossesOnSalesOfAssets`	$3.54M	USD	2 Qtrs
Gain (loss) on sale of assets	`GainsLossesOnSalesOfAssets`	$3.46M	USD	1 Quarter
Gain (loss) on sale of assets	`GainsLossesOnSalesOfAssets`	$2.72M	USD	2 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-179.87K	USD	2 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Net Income	`ProfitLoss`	$16.96M	USD	2 Qtrs
Net Income	`ProfitLoss`	$10.83M	USD	1 Quarter
Net Income	`ProfitLoss`	$18.41M	USD	2 Qtrs
Net Income	`ProfitLoss`	$10.46M	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$292.49K	USD	2 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$327.05K	USD	2 Qtrs
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$201.24K	USD	1 Quarter
Less Net Income Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$167.00K	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$10.26M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$18.12M	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$16.63M	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$10.66M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.95	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.85	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.48	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.59	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.85	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.95	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.48	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.58	USD	1 Quarter
Net income	`ProfitLoss`	$16.96M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.83M	USD	1 Quarter
Net income	`ProfitLoss`	$18.41M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.46M	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-1.68M	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.62M	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-390.65K	USD	2 Qtrs
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-4.61M	USD	2 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$16.57M	USD	2 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$13.80M	USD	2 Qtrs
Total Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$9.15M	USD	1 Quarter
Total Comprehensive Income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$12.09M	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$319.52K	USD	2 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$232.03K	USD	1 Quarter
Comprehensive Income Attributable to Non-Controlling Interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$219.58K	USD	2 Qtrs
Comprehensive Income Attributable to Non-Controlling Interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$139.80K	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$9.01M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$11.85M	USD	1 Quarter
Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$16.25M	USD	2 Qtrs
Comprehensive Income Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$13.58M	USD	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic: (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.19M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic: (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.46M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic: (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.32M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic: (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	17.54M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted: (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.39M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Diluted: (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.51M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Diluted: (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.59M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted: (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.27M	shares	1 Quarter

Cash Flow Statement 86 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$16.96M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.83M	USD	1 Quarter
Net income	`ProfitLoss`	$18.41M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.46M	USD	1 Quarter
Real Estate Inventory, Capitalized Interest Costs	`RealEstateInventoryCapitalizedInterestCosts`	$2.51K	USD	Point-in-time
Real Estate Inventory, Capitalized Interest Costs	`RealEstateInventoryCapitalizedInterestCosts`	$13.66K	USD	Point-in-time
Depreciation	`Depreciation`	$5.51M	USD	2 Qtrs
Depreciation	`Depreciation`	$6.99M	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$3.76M	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$2.39M	USD	2 Qtrs
Amortization from financing and credit facility costs	`AmortizationOfFinancingCostsAndDiscounts`	$117.56K	USD	2 Qtrs
Amortization from financing and credit facility costs	`AmortizationOfFinancingCostsAndDiscounts`	$344.35K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.04M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.22M	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-179.87K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$2.72M	USD	2 Qtrs
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$2.80M	USD	1 Quarter
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$3.54M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.56M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.19M	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$238.23K	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$190.07K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.68M	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-23.93K	USD	2 Qtrs
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-231.69K	USD	2 Qtrs
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-231.69K	USD	2 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$167.60K	USD	2 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-84.77K	USD	2 Qtrs
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$65.12K	USD	2 Qtrs
Increase (decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$5.29K	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$21.16M	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$26.70M	USD	2 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireRealEstate`	$124.41M	USD	2 Qtrs
Acquisition of real estate investments	`PaymentsToAcquireRealEstate`	$185.44M	USD	2 Qtrs
Development of real estate investments and other (including capitalized interest of $13,659 in 2016 and $2,512 in 2015)	`PaymentsToDevelopRealEstateAssets`	$8.14M	USD	2 Qtrs
Development of real estate investments and other (including capitalized interest of $13,659 in 2016 and $2,512 in 2015)	`PaymentsToDevelopRealEstateAssets`	$725.01K	USD	2 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$65.41K	USD	2 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$520.73K	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$7.03M	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$8.80M	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-116.40M	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-187.07M	USD	2 Qtrs
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$109.70M	USD	Point-in-time
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$13.61M	USD	2 Qtrs
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$112.08M	USD	2 Qtrs
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$703.05K	USD	2 Qtrs
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$180.00M	USD	2 Qtrs
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$111.50M	USD	2 Qtrs
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	$100.00M	USD	2 Qtrs
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	$111.50M	USD	2 Qtrs
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$10.03M	USD	2 Qtrs
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$3.77M	USD	2 Qtrs
Senior unsecured notes proceeds	`ProceedsFromUnsecuredNotesPayable`	-	USD	2 Qtrs
Senior unsecured notes proceeds	`ProceedsFromUnsecuredNotesPayable`	$100.00M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$19.25M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$15.81M	USD	2 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$312.86K	USD	2 Qtrs
Limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$323.29K	USD	2 Qtrs
Debt extinguishment costs	`PaymentsOfDebtExtinguishmentCosts`	-	USD	2 Qtrs
Debt extinguishment costs	`PaymentsOfDebtExtinguishmentCosts`	$150.08K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$73.51K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$845.65K	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$161.70M	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$92.72M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.53M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.32M	USD	2 Qtrs
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.03M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.71M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.87M	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.40M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.03M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.71M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.87M	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.40M	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$6.93M	USD	2 Qtrs
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$4.86M	USD	2 Qtrs
Shares issued under equity incentive plans	`StockIssued1`	$2.46M	USD	2 Qtrs
Shares issued under equity incentive plans	`StockIssued1`	$3.06M	USD	2 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsCommonStock`	$8.56M	USD	2 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsCommonStock`	$11.51M	USD	2 Qtrs
Real estate investment financed with accounts payable	`RealEstateInvestmentFinancedWithAccountsPayable`	$27.84K	USD	2 Qtrs
Real estate investment financed with accounts payable	`RealEstateInvestmentFinancedWithAccountsPayable`	$289.37K	USD	2 Qtrs

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$453.62M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$558.69M	USD	Point-in-time
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$112.08M	USD	2 Qtrs
Issuance of common stock, net of issuance costs (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	2.88M	shares	Point-in-time
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$703.05K	USD	2 Qtrs
Issuance of restricted stock under the Omnibus Incentive Plan	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$8.00	USD	2 Qtrs
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	$1.00	USD	2 Qtrs
Vesting of restricted stock	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$1.22M	USD	2 Qtrs
Dividends and distributions declared for the period	`Dividends`	$21.33M	USD	2 Qtrs
Other comprehensive income (loss) - change in fair value of interest rate swaps	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-4.61M	USD	2 Qtrs
Net income	`ProfitLoss`	$16.96M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.83M	USD	1 Quarter
Net income	`ProfitLoss`	$18.41M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.46M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$453.62M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$558.69M	USD	Point-in-time

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