10-Q Filing

AGREE REALTY CORP CIK: 917251 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001558370-21-009247`
Period End Date	20210630
Filing Date	20210726
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	adc-20210630x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 118 Cash Flow Statement 82 Stockholders Equity 40

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$150.44M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$126.00M	USD	Point-in-time
Below market lease, accumulated amortization (in dollars)	`BelowMarketLeaseAccumulatedAmortization`	$26.77M	USD	Point-in-time
Below market lease, accumulated amortization (in dollars)	`BelowMarketLeaseAccumulatedAmortization`	$24.65M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Land	`Land`	$1.35B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Land	`Land`	$1.09B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	180.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	90.00M	shares	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$2.69B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	180.00M	shares	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$2.37B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	90.00M	shares	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$200.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.02M	shares	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$172.58M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	68.91M	shares	Point-in-time
Real estate investments excluding property under development	`RealEstateInvestmentPropertyExcludingPropertyUnderDevelopmentNetOfAccumulatedDepreciation`	$3.85B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	68.91M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	60.02M	shares	Point-in-time
Real estate investments excluding property under development	`RealEstateInvestmentPropertyExcludingPropertyUnderDevelopmentNetOfAccumulatedDepreciation`	$3.29B	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$6.20M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$10.65M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$3.85B	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$3.30B	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Real Estate Held for Sale, net	`RealEstateHeldForSaleNetTotal`	$1.20M	USD	Point-in-time
Real Estate Held for Sale, net	`RealEstateHeldForSaleNetTotal`	$1.25M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.14M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$177.05M	USD	Point-in-time
Cash Held in Escrows	`EscrowDeposit`	$11.34M	USD	Point-in-time
Cash Held in Escrows	`EscrowDeposit`	$1.82M	USD	Point-in-time
Accounts Receivable - Tenants	`AccountsReceivableNet`	$46.88M	USD	Point-in-time
Accounts Receivable - Tenants	`AccountsReceivableNet`	$37.81M	USD	Point-in-time
Lease Intangibles, net of accumulated amortization of $150,435 and $125,995 at June 30, 2021 and December 31, 2020, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$601.54M	USD	Point-in-time
Lease Intangibles, net of accumulated amortization of $150,435 and $125,995 at June 30, 2021 and December 31, 2020, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$473.59M	USD	Point-in-time
Other Assets, net	`OtherAssets`	$72.48M	USD	Point-in-time
Other Assets, net	`OtherAssets`	$61.45M	USD	Point-in-time
Total Assets	`Assets`	$3.89B	USD	Point-in-time
Total Assets	`Assets`	$4.76B	USD	Point-in-time
Mortgage Notes Payable, net	`SecuredDebt`	$33.12M	USD	Point-in-time
Mortgage Notes Payable, net	`SecuredDebt`	$32.78M	USD	Point-in-time
Unsecured Term Loans, net	`UnsecuredDebt`	$237.85M	USD	Point-in-time
Senior Unsecured Notes, net	`SeniorNotes`	$855.33M	USD	Point-in-time
Senior Unsecured Notes, net	`SeniorNotes`	$1.49B	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$92.00M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$15.03M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$34.55M	USD	Point-in-time
Accounts Payable, Accrued Expenses, and Other Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$68.20M	USD	Point-in-time
Accounts Payable, Accrued Expenses, and Other Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$71.39M	USD	Point-in-time
Lease Intangibles, net of accumulated amortization of $26,771 and $24,651 at June 30, 2021 and December 31, 2020, respectively	`BelowMarketLeaseNet`	$33.97M	USD	Point-in-time
Lease Intangibles, net of accumulated amortization of $26,771 and $24,651 at June 30, 2021 and December 31, 2020, respectively	`BelowMarketLeaseNet`	$35.70M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.36B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.64B	USD	Point-in-time
Common stock, $.0001 par value, 180,000,000 and 90,000,000 shares authorized, 68,910,373 and 60,021,483 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	`CommonStockValue`	$7.00K	USD	Point-in-time
Common stock, $.0001 par value, 180,000,000 and 90,000,000 shares authorized, 68,910,373 and 60,021,483 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	`CommonStockValue`	$6.00K	USD	Point-in-time
Preferred Stock, $.0001 par value per share, 4,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $.0001 par value per share, 4,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$2.65B	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$3.25B	USD	Point-in-time
Dividends in excess of net income	`AccumulatedDistributionsInExcessOfNetIncome`	$91.34M	USD	Point-in-time
Dividends in excess of net income	`AccumulatedDistributionsInExcessOfNetIncome`	$121.62M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-36.27M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.26M	USD	Point-in-time
Total Equity - Agree Realty Corporation	`StockholdersEquity`	$2.52B	USD	Point-in-time
Total Equity - Agree Realty Corporation	`StockholdersEquity`	$3.12B	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$1.76M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$1.76M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.53B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.19B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.80B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.69B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.76B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.12B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$4.76B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$3.89B	USD	Point-in-time

Income Statement 118 line items

Line Item	Tag	Value	Unit	Period
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$82.49M	USD	1 Quarter
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$57.48M	USD	1 Quarter
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$113.26M	USD	2 Qtrs
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$160.25M	USD	2 Qtrs
Other	`RevenueNotFromContractWithCustomerOther`	$85.00K	USD	2 Qtrs
Other	`RevenueNotFromContractWithCustomerOther`	$52.00K	USD	1 Quarter
Other	`RevenueNotFromContractWithCustomerOther`	$59.00K	USD	1 Quarter
Other	`RevenueNotFromContractWithCustomerOther`	$121.00K	USD	2 Qtrs
Total Revenues	`Revenues`	$57.53M	USD	1 Quarter
Total Revenues	`Revenues`	$113.34M	USD	2 Qtrs
Total Revenues	`Revenues`	$82.55M	USD	1 Quarter
Total Revenues	`Revenues`	$160.37M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$4.84M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$6.16M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$11.86M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$9.54M	USD	2 Qtrs
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$1.86M	USD	1 Quarter
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$6.75M	USD	2 Qtrs
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$4.20M	USD	2 Qtrs
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$3.21M	USD	1 Quarter
Land lease expense	`OperatingLeaseExpense`	$736.00K	USD	2 Qtrs
Land lease expense	`OperatingLeaseExpense`	$389.00K	USD	1 Quarter
Land lease expense	`OperatingLeaseExpense`	$652.00K	USD	2 Qtrs
Land lease expense	`OperatingLeaseExpense`	$325.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$13.12M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$9.24M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$6.24M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$15.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$44.68M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$23.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$29.74M	USD	2 Qtrs
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	1 Quarter
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.13M	USD	2 Qtrs
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	2 Qtrs
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.13M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$77.14M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$39.19M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$28.35M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$54.50M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$29.19M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$83.23M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$43.36M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$58.84M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$12.55M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$18.15M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$24.20M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$8.48M	USD	1 Quarter
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$6.77M	USD	1 Quarter
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$9.71M	USD	2 Qtrs
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$6.60M	USD	2 Qtrs
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$4.95M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$260.00K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$1.49M	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$520.00K	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$485.00K	USD	1 Quarter
Gain (loss) on early extinguishment of term loans and settlement of related interest rate swaps	`GainLossOnEarlyExtinguishmentOfDebtAndSettlementOfRelatedInterestRateSwaps`	$-14.61M	USD	2 Qtrs
Gain (loss) on early extinguishment of term loans and settlement of related interest rate swaps	`GainLossOnEarlyExtinguishmentOfDebtAndSettlementOfRelatedInterestRateSwaps`	$-14.61M	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$103.00K	USD	2 Qtrs
Other (expense) income	`OtherNonoperatingIncomeExpense`	$23.00K	USD	2 Qtrs
Other (expense) income	`OtherNonoperatingIncomeExpense`	$-14.00K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$23.00K	USD	1 Quarter
Net Income	`ProfitLoss`	$52.74M	USD	2 Qtrs
Net Income	`ProfitLoss`	$22.46M	USD	1 Quarter
Net Income	`ProfitLoss`	$30.28M	USD	1 Quarter
Net Income	`ProfitLoss`	$46.79M	USD	2 Qtrs
Net Income	`ProfitLoss`	$21.37M	USD	1 Quarter
Net Income	`ProfitLoss`	$25.42M	USD	1 Quarter
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$280.00K	USD	2 Qtrs
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$166.00K	USD	1 Quarter
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$308.00K	USD	2 Qtrs
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$114.00K	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$46.49M	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$22.35M	USD	1 Quarter
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$52.46M	USD	2 Qtrs
Net Income Attributable to Agree Realty Corporation	`NetIncomeLoss`	$25.26M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.82	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.47	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.94	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.93	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.34	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.82	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.47	USD	1 Quarter
Net income	`ProfitLoss`	$52.74M	USD	2 Qtrs
Net income	`ProfitLoss`	$22.46M	USD	1 Quarter
Net income	`ProfitLoss`	$30.28M	USD	1 Quarter
Net income	`ProfitLoss`	$46.79M	USD	2 Qtrs
Net income	`ProfitLoss`	$21.37M	USD	1 Quarter
Net income	`ProfitLoss`	$25.42M	USD	1 Quarter
Realized gain (loss) on settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$-17.00K	USD	1 Quarter
Realized gain (loss) on settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$787.00K	USD	2 Qtrs
Realized gain (loss) on settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$287.00K	USD	1 Quarter
Realized gain (loss) on settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$-33.00K	USD	2 Qtrs
Other comprehensive income (loss) - change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$27.38M	USD	2 Qtrs
Other comprehensive income (loss) - change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-35.27M	USD	2 Qtrs
Other comprehensive income (loss) - change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$2.23M	USD	1 Quarter
Other comprehensive income (loss) - change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-2.24M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$24.98M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$80.90M	USD	2 Qtrs
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$11.49M	USD	2 Qtrs
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$23.16M	USD	1 Quarter
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$151.00K	USD	1 Quarter
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$42.00K	USD	2 Qtrs
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$128.00K	USD	1 Quarter
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$294.00K	USD	2 Qtrs
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$23.01M	USD	1 Quarter
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$24.85M	USD	1 Quarter
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$80.61M	USD	2 Qtrs
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$11.45M	USD	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	64.84M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	49.08M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	63.84M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	52.73M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	64.08M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	53.27M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.42M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	65.19M	shares	1 Quarter

Cash Flow Statement 82 line items

Line Item	Tag	Value	Unit	Period
Real estate inventory, capitalized interest costs	`RealEstateInventoryCapitalizedInterestCosts`	$163.00K	USD	Point-in-time
Real estate inventory, capitalized interest costs	`RealEstateInventoryCapitalizedInterestCosts`	$55.00K	USD	Point-in-time
Net income	`ProfitLoss`	$52.74M	USD	2 Qtrs
Net income	`ProfitLoss`	$22.46M	USD	1 Quarter
Net income	`ProfitLoss`	$30.28M	USD	1 Quarter
Net income	`ProfitLoss`	$46.79M	USD	2 Qtrs
Net income	`ProfitLoss`	$21.37M	USD	1 Quarter
Net income	`ProfitLoss`	$25.42M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$15.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$44.68M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$23.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$29.74M	USD	2 Qtrs
Amortization from above (below) market lease intangibles, net	`AmortizationOfAboveAndBelowMarketLeases`	$10.02M	USD	2 Qtrs
Amortization from above (below) market lease intangibles, net	`AmortizationOfAboveAndBelowMarketLeases`	$7.59M	USD	2 Qtrs
Amortization from financing and credit facility costs	`AmortizationOfFinancingCostsAndDiscounts`	$948.00K	USD	2 Qtrs
Amortization from financing and credit facility costs	`AmortizationOfFinancingCostsAndDiscounts`	$647.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.24M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.97M	USD	2 Qtrs
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	1 Quarter
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.13M	USD	2 Qtrs
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	2 Qtrs
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.13M	USD	1 Quarter
(Gain) loss on settlement of interest rate swaps	`GainLossOnSettlementOfInterestRateSwaps`	$33.00K	USD	2 Qtrs
(Gain) loss on settlement of interest rate swaps	`GainLossOnSettlementOfInterestRateSwaps`	$-16.75M	USD	2 Qtrs
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$9.71M	USD	2 Qtrs
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$6.60M	USD	2 Qtrs
Write-off of unamortized finance costs upon debt extinguishment	`WriteOffOfDeferredDebtIssuanceCost`	$1.25M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.12M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.38M	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$435.00K	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.11M	USD	2 Qtrs
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayable`	$5.58M	USD	2 Qtrs
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayable`	$-5.17M	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$67.78M	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$117.95M	USD	2 Qtrs
Acquisition of real estate investments and other assets	`PaymentsToAcquireRealEstate`	$504.39M	USD	2 Qtrs
Acquisition of real estate investments and other assets	`PaymentsToAcquireRealEstate`	$741.35M	USD	2 Qtrs
Development of real estate investments, net of reimbursements (including capitalized interest of $163 in 2021, $55 in 2020)	`PaymentsForProceedsFromDevelopRealEstateAssets`	$6.96M	USD	2 Qtrs
Development of real estate investments, net of reimbursements (including capitalized interest of $163 in 2021, $55 in 2020)	`PaymentsForProceedsFromDevelopRealEstateAssets`	$28.75M	USD	2 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$388.00K	USD	2 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$296.00K	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$35.38M	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$42.60M	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-735.02M	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-469.14M	USD	2 Qtrs
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$594.98M	USD	2 Qtrs
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$541.72M	USD	2 Qtrs
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$1.63M	USD	2 Qtrs
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$1.78M	USD	2 Qtrs
Unsecured revolving credit facility borrowings (repayments), net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-92.00M	USD	2 Qtrs
Unsecured revolving credit facility borrowings (repayments), net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-89.00M	USD	2 Qtrs
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$3.24M	USD	2 Qtrs
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$393.00K	USD	2 Qtrs
Payments of unsecured term loans	`RepaymentsOfUnsecuredDebt`	$240.00M	USD	2 Qtrs
Senior unsecured notes proceeds	`ProceedsFromUnsecuredNotesPayable`	$640.62M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$102.11M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$51.49M	USD	2 Qtrs
Distributions to non-controlling interest	`PaymentsToMinorityShareholders`	$582.00K	USD	2 Qtrs
Distributions to non-controlling interest	`PaymentsToMinorityShareholders`	$407.00K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$1.24M	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$364.00K	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$797.50M	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$395.59M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$180.43M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-5.77M	USD	2 Qtrs
Cash and cash equivalents and cash held in escrow, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.38M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.16M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.96M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$188.38M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.38M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.16M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.96M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$188.38M	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$17.93M	USD	2 Qtrs
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$18.82M	USD	2 Qtrs
Cash paid for income tax	`IncomeTaxesPaidNet`	$841.00K	USD	2 Qtrs
Cash paid for income tax	`IncomeTaxesPaidNet`	$1.79M	USD	2 Qtrs
Additional operating lease right of use assets added under new ground leases after January 1, 2019	`AdditionalRightOfUseAssetsAddedUnderNewGroundLeases`	$6.30M	USD	2 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsCommonStock`	$32.52M	USD	2 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsCommonStock`	$15.03M	USD	2 Qtrs
Accrual of development, construction and other real estate investment costs	`AccrualOfDevelopmentConstructionAndOtherRealEstateInvestmentCosts`	$-1.82M	USD	2 Qtrs
Accrual of development, construction and other real estate investment costs	`AccrualOfDevelopmentConstructionAndOtherRealEstateInvestmentCosts`	$1.79M	USD	2 Qtrs

Stockholders Equity 40 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.53B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.19B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.80B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.69B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.76B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.12B	USD	Point-in-time
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$258.11M	USD	1 Quarter
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$336.88M	USD	1 Quarter
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$437.10M	USD	1 Quarter
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$104.61M	USD	1 Quarter
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$1.78M	USD	1 Quarter
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$3.00K	USD	1 Quarter
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$1.63M	USD	1 Quarter
Issuance of restricted stock under the Omnibus Incentive Plan	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$298.00K	USD	1 Quarter
Issuance of stock under the Omnibus Incentive Plan	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$22.00K	USD	1 Quarter
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	$92.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.45M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.29M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.22M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.01M	USD	1 Quarter
Dividends and distributions declared for the period	`Dividends`	$32.52M	USD	1 Quarter
Dividends and distributions declared for the period	`Dividends`	$43.05M	USD	1 Quarter
Dividends and distributions declared for the period	`Dividends`	$40.12M	USD	1 Quarter
Dividends and distributions declared for the period	`Dividends`	$26.88M	USD	1 Quarter
Other comprehensive income (loss) - change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$2.52M	USD	1 Quarter
Other comprehensive income (loss) - change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$25.65M	USD	1 Quarter
Other comprehensive income (loss) - change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$-2.26M	USD	1 Quarter
Other comprehensive income (loss) - change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$-33.04M	USD	1 Quarter
Net income	`ProfitLoss`	$52.74M	USD	2 Qtrs
Net income	`ProfitLoss`	$22.46M	USD	1 Quarter
Net income	`ProfitLoss`	$30.28M	USD	1 Quarter
Net income	`ProfitLoss`	$46.79M	USD	2 Qtrs
Net income	`ProfitLoss`	$21.37M	USD	1 Quarter
Net income	`ProfitLoss`	$25.42M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.53B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.19B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.80B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.69B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.76B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.12B	USD	Point-in-time

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