10-Q Filing

AGREE REALTY CORP CIK: 917251 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001558370-23-012736`
Period End Date	20230630
Filing Date	20230801
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	adc-20230630x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 126 Cash Flow Statement 85 Stockholders Equity 43

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Land	`Land`	$1.94B	USD	Point-in-time
Land	`Land`	$2.09B	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$4.48B	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$4.05B	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$321.14M	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$374.92M	USD	Point-in-time
Real estate investments excluding property under development	`RealEstateInvestmentPropertyExcludingPropertyUnderDevelopmentNetOfAccumulatedDepreciation`	$5.68B	USD	Point-in-time
Real estate investments excluding property under development	`RealEstateInvestmentPropertyExcludingPropertyUnderDevelopmentNetOfAccumulatedDepreciation`	$6.19B	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$263.01M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$310.85M	USD	Point-in-time
Below market lease, accumulated amortization (in dollars)	`BelowMarketLeaseAccumulatedAmortization`	$38.95M	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$81.53M	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$65.93M	USD	Point-in-time
Below market lease, accumulated amortization (in dollars)	`BelowMarketLeaseAccumulatedAmortization`	$35.99M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$5.74B	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
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$6.27B	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.07M	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
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.76M	USD	Point-in-time
Cash Held in Escrows	`EscrowDeposit`	$4.18M	USD	Point-in-time
Cash Held in Escrows	`EscrowDeposit`	$1.15M	USD	Point-in-time
Accounts Receivable - Tenants, net	`AccountsReceivableNet`	$70.93M	USD	Point-in-time
Accounts Receivable - Tenants, net	`AccountsReceivableNet`	$65.84M	USD	Point-in-time
Lease Intangibles, net of accumulated amortization of $310,845 and $263,011 at June 30, 2023 and December 31, 2022, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$826.00M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Lease Intangibles, net of accumulated amortization of $310,845 and $263,011 at June 30, 2023 and December 31, 2022, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$799.45M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other Assets, net	`OtherAssets`	$89.17M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	180.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	180.00M	shares	Point-in-time
Other Assets, net	`OtherAssets`	$77.92M	USD	Point-in-time
Total Assets	`Assets`	$6.71B	USD	Point-in-time
Total Assets	`Assets`	$7.27B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	96.27M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	90.17M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	90.17M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	96.27M	shares	Point-in-time
Mortgage Notes Payable, net	`SecuredDebt`	$47.97M	USD	Point-in-time
Mortgage Notes Payable, net	`SecuredDebt`	$47.70M	USD	Point-in-time
Senior Unsecured Notes, net	`SeniorNotes`	$1.79B	USD	Point-in-time
Senior Unsecured Notes, net	`SeniorNotes`	$1.79B	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$303.00M	USD	Point-in-time
Unsecured Revolving Credit Facility	`LineOfCredit`	$100.00M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$22.34M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$24.10M	USD	Point-in-time
Accounts Payable, Accrued Expenses, and Other Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$87.69M	USD	Point-in-time
Accounts Payable, Accrued Expenses, and Other Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$83.72M	USD	Point-in-time
Lease Intangibles, net of accumulated amortization of $38,945 and $35,992 at June 30, 2023 and December 31, 2022, respectively	`BelowMarketLeaseNet`	$36.71M	USD	Point-in-time
Lease Intangibles, net of accumulated amortization of $38,945 and $35,992 at June 30, 2023 and December 31, 2022, respectively	`BelowMarketLeaseNet`	$38.27M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.29B	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.08B	USD	Point-in-time
Preferred stock, $.0001 par value per share, 4,000,000 shares authorized, 7,000 shares Series A outstanding, at stated liquidation value of $25,000 per share, at June 30, 2023 and December 31, 2022	`PreferredStockValue`	$175.00M	USD	Point-in-time
Preferred stock, $.0001 par value per share, 4,000,000 shares authorized, 7,000 shares Series A outstanding, at stated liquidation value of $25,000 per share, at June 30, 2023 and December 31, 2022	`PreferredStockValue`	$175.00M	USD	Point-in-time
Common stock, $.0001 par value, 180,000,000 shares authorized, 96,269,336 and 90,173,424 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Common stock, $.0001 par value, 180,000,000 shares authorized, 96,269,336 and 90,173,424 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$5.06B	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$4.66B	USD	Point-in-time
Dividends in excess of net income	`AccumulatedDistributionsInExcessOfNetIncome`	$228.13M	USD	Point-in-time
Dividends in excess of net income	`AccumulatedDistributionsInExcessOfNetIncome`	$284.00M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$25.62M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$23.55M	USD	Point-in-time
Total Equity - Agree Realty Corporation	`StockholdersEquity`	$4.98B	USD	Point-in-time
Total Equity - Agree Realty Corporation	`StockholdersEquity`	$4.63B	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$1.39M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$1.21M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.97B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.42B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.68B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.63B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.98B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.80B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$6.71B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$7.27B	USD	Point-in-time

Income Statement 126 line items

Line Item	Tag	Value	Unit	Period
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$203.10M	USD	2 Qtrs
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$256.49M	USD	2 Qtrs
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$104.79M	USD	1 Quarter
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$129.88M	USD	1 Quarter
Other	`RevenueNotFromContractWithCustomerOther`	$113.00K	USD	2 Qtrs
Other	`RevenueNotFromContractWithCustomerOther`	$83.00K	USD	1 Quarter
Other	`RevenueNotFromContractWithCustomerOther`	$33.00K	USD	2 Qtrs
Other	`RevenueNotFromContractWithCustomerOther`	$24.00K	USD	1 Quarter
Total Revenues	`Revenues`	$256.52M	USD	2 Qtrs
Total Revenues	`Revenues`	$129.90M	USD	1 Quarter
Total Revenues	`Revenues`	$104.88M	USD	1 Quarter
Total Revenues	`Revenues`	$203.22M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$9.87M	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$15.59M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$19.30M	USD	2 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$7.98M	USD	1 Quarter
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$5.82M	USD	1 Quarter
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$4.54M	USD	1 Quarter
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$9.02M	USD	2 Qtrs
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$12.60M	USD	2 Qtrs
Land lease expense	`OperatingLeaseExpense`	$410.00K	USD	1 Quarter
Land lease expense	`OperatingLeaseExpense`	$809.00K	USD	2 Qtrs
Land lease expense	`OperatingLeaseExpense`	$840.00K	USD	2 Qtrs
Land lease expense	`OperatingLeaseExpense`	$407.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$15.27M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$8.42M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.24M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$7.65M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$83.40M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$60.51M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$31.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$42.75M	USD	1 Quarter
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.31M	USD	1 Quarter
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	1 Quarter
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.01M	USD	2 Qtrs
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.31M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$102.22M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$68.59M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$134.70M	USD	2 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$52.53M	USD	1 Quarter
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$319.00K	USD	2 Qtrs
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$17.00K	USD	1 Quarter
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$2.33M	USD	2 Qtrs
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$319.00K	USD	1 Quarter
Gain (loss) on involuntary conversion, net	`GainLossOnInvoluntaryConversionOfAssets`	$-25.00K	USD	1 Quarter
Gain (loss) on involuntary conversion, net	`GainLossOnInvoluntaryConversionOfAssets`	$-50.00K	USD	2 Qtrs
Gain (loss) on involuntary conversion, net	`GainLossOnInvoluntaryConversionOfAssets`	-	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$52.34M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$61.63M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$122.14M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$103.28M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$37.95M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$29.44M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$15.51M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$19.95M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$1.49M	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$709.00K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$1.42M	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$698.00K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$43.00K	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other (expense) income	`OtherNonoperatingIncomeExpense`	$91.00K	USD	2 Qtrs
Net Income	`ProfitLoss`	$41.77M	USD	1 Quarter
Net Income	`ProfitLoss`	$41.02M	USD	1 Quarter
Net Income	`ProfitLoss`	$36.13M	USD	1 Quarter
Net Income	`ProfitLoss`	$36.29M	USD	1 Quarter
Net Income	`ProfitLoss`	$72.42M	USD	2 Qtrs
Net Income	`ProfitLoss`	$82.79M	USD	2 Qtrs
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$307.00K	USD	2 Qtrs
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$333.00K	USD	2 Qtrs
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$147.00K	USD	1 Quarter
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$157.00K	USD	1 Quarter
Net income attributable to Agree Realty Corporation	`NetIncomeLoss`	$35.97M	USD	1 Quarter
Net income attributable to Agree Realty Corporation	`NetIncomeLoss`	$40.87M	USD	1 Quarter
Net income attributable to Agree Realty Corporation	`NetIncomeLoss`	$72.09M	USD	2 Qtrs
Net income attributable to Agree Realty Corporation	`NetIncomeLoss`	$82.48M	USD	2 Qtrs
Less Series A preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$3.72M	USD	2 Qtrs
Less Series A preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$3.72M	USD	2 Qtrs
Less Series A preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.86M	USD	1 Quarter
Less Series A preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$1.86M	USD	1 Quarter
Net Income Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$78.76M	USD	2 Qtrs
Net Income Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$68.37M	USD	2 Qtrs
Net Income Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$39.01M	USD	1 Quarter
Net Income Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$34.11M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.86	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.93	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.45	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.86	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.45	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.93	USD	2 Qtrs
Net income	`ProfitLoss`	$41.77M	USD	1 Quarter
Net income	`ProfitLoss`	$41.02M	USD	1 Quarter
Net income	`ProfitLoss`	$36.13M	USD	1 Quarter
Net income	`ProfitLoss`	$36.29M	USD	1 Quarter
Net income	`ProfitLoss`	$72.42M	USD	2 Qtrs
Net income	`ProfitLoss`	$82.79M	USD	2 Qtrs
Amortization of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$82.00K	USD	1 Quarter
Amortization of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$-1.26M	USD	2 Qtrs
Amortization of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$164.00K	USD	2 Qtrs
Amortization of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$-630.00K	USD	1 Quarter
Change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$16.48M	USD	1 Quarter
Change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$3.34M	USD	1 Quarter
Change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$37.06M	USD	2 Qtrs
Change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$3.34M	USD	2 Qtrs
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$109.64M	USD	2 Qtrs
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$43.73M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$84.87M	USD	2 Qtrs
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$52.69M	USD	1 Quarter
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$315.00K	USD	2 Qtrs
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$509.00K	USD	2 Qtrs
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$157.00K	USD	1 Quarter
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$233.00K	USD	1 Quarter
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$109.14M	USD	2 Qtrs
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$43.57M	USD	1 Quarter
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$84.56M	USD	2 Qtrs
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$52.46M	USD	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	93.05M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	91.55M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	73.15M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	75.04M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	91.86M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	73.47M	shares	2 Qtrs
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	75.57M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	93.13M	shares	1 Quarter

Cash Flow Statement 85 line items

Line Item	Tag	Value	Unit	Period
Real estate inventory, capitalized interest costs	`RealEstateInventoryCapitalizedInterestCosts`	$262.00K	USD	Point-in-time
Real estate inventory, capitalized interest costs	`RealEstateInventoryCapitalizedInterestCosts`	$1.20M	USD	Point-in-time
Mortgage debt discount	`AmortizationOfDebtDiscountPremium`	$2.55M	USD	2 Qtrs
Net income	`ProfitLoss`	$41.77M	USD	1 Quarter
Net income	`ProfitLoss`	$41.02M	USD	1 Quarter
Net income	`ProfitLoss`	$36.13M	USD	1 Quarter
Net income	`ProfitLoss`	$36.29M	USD	1 Quarter
Net income	`ProfitLoss`	$72.42M	USD	2 Qtrs
Net income	`ProfitLoss`	$82.79M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$83.40M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$60.51M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$31.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$42.75M	USD	1 Quarter
Amortization from above (below) market lease intangibles, net	`AmortizationOfAboveAndBelowMarketLeases`	$17.32M	USD	2 Qtrs
Amortization from above (below) market lease intangibles, net	`AmortizationOfAboveAndBelowMarketLeases`	$16.49M	USD	2 Qtrs
Amortization from financing costs, credit facility costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$2.23M	USD	2 Qtrs
Amortization from financing costs, credit facility costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$1.88M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$3.38M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$4.01M	USD	2 Qtrs
Straight-line accrued rent	`StraightLineRent`	$6.23M	USD	2 Qtrs
Straight-line accrued rent	`StraightLineRent`	$6.15M	USD	2 Qtrs
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.31M	USD	1 Quarter
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	1 Quarter
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.01M	USD	2 Qtrs
Provision for impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$1.31M	USD	2 Qtrs
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$319.00K	USD	2 Qtrs
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$2.33M	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-945.00K	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.56M	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$951.00K	USD	2 Qtrs
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$10.37M	USD	2 Qtrs
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayable`	$8.56M	USD	2 Qtrs
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayable`	$5.46M	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$183.73M	USD	2 Qtrs
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$150.09M	USD	2 Qtrs
Acquisition of real estate investments and other assets	`PaymentsToAcquireRealEstate`	$610.59M	USD	2 Qtrs
Acquisition of real estate investments and other assets	`PaymentsToAcquireRealEstate`	$799.17M	USD	2 Qtrs
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $1,203 in 2023 and $262 in 2022)	`PaymentsToDevelopRealEstateAssets`	$46.10M	USD	2 Qtrs
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $1,203 in 2023 and $262 in 2022)	`PaymentsToDevelopRealEstateAssets`	$55.81M	USD	2 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$36.00K	USD	2 Qtrs
Payment of leasing costs	`PaymentsForLeasingCosts`	$203.00K	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$3.07M	USD	2 Qtrs
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$23.92M	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-821.55M	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-663.37M	USD	2 Qtrs
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$400.24M	USD	2 Qtrs
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$550.79M	USD	2 Qtrs
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$1.82M	USD	2 Qtrs
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$2.62M	USD	2 Qtrs
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$680.00M	USD	2 Qtrs
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$636.00M	USD	2 Qtrs
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	$470.00M	USD	2 Qtrs
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	$433.00M	USD	2 Qtrs
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$445.00K	USD	2 Qtrs
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$418.00K	USD	2 Qtrs
Payment of Series A preferred dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$3.72M	USD	2 Qtrs
Payment of Series A preferred dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$3.72M	USD	2 Qtrs
Payment of common stock dividends	`PaymentsOfDividendsCommonStock`	$101.02M	USD	2 Qtrs
Payment of common stock dividends	`PaymentsOfDividendsCommonStock`	$133.11M	USD	2 Qtrs
Distributions to non-controlling interest	`PaymentsToMinorityShareholders`	$266.00K	USD	2 Qtrs
Distributions to non-controlling interest	`PaymentsToMinorityShareholders`	$478.00K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$23.00K	USD	2 Qtrs
Payments for financing costs	`PaymentsOfFinancingCosts`	$98.00K	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$462.98M	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$653.32M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-18.14M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-16.66M	USD	2 Qtrs
Cash and cash equivalents and cash held in escrow, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.91M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.25M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.11M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$45.25M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.91M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.25M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.11M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$45.25M	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$28.50M	USD	2 Qtrs
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$47.05M	USD	2 Qtrs
Cash paid for income tax	`IncomeTaxesPaidNet`	$3.02M	USD	2 Qtrs
Cash paid for income tax	`IncomeTaxesPaidNet`	$2.33M	USD	2 Qtrs
Mortgage note payable assumed, net of $2,548 mortgage debt discount	`NotesAssumed1`	$39.70M	USD	2 Qtrs
Mortgage note payable assumed, net of $2,548 mortgage debt discount	`NotesAssumed1`	-	USD	2 Qtrs
Dividends declared and unpaid	`DividendsPayableCurrentAndNoncurrent`	$22.34M	USD	Point-in-time
Dividends declared and unpaid	`DividendsPayableCurrentAndNoncurrent`	$24.10M	USD	Point-in-time
Change in accrual of development, construction and other real estate investment costs	`AccrualOfDevelopmentConstructionAndOtherRealEstateInvestmentCosts`	$-341.00K	USD	2 Qtrs
Change in accrual of development, construction and other real estate investment costs	`AccrualOfDevelopmentConstructionAndOtherRealEstateInvestmentCosts`	$-4.59M	USD	2 Qtrs

Stockholders Equity 43 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.97B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.42B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.68B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.63B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.98B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.80B	USD	Point-in-time
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$205.10M	USD	1 Quarter
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$195.13M	USD	1 Quarter
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$250.68M	USD	1 Quarter
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$300.11M	USD	1 Quarter
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$1.75M	USD	1 Quarter
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$2.61M	USD	1 Quarter
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$76.00K	USD	1 Quarter
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$8.00K	USD	1 Quarter
Issuance of restricted stock under the Omnibus Incentive Plan	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$648.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.83M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.64M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.18M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.74M	USD	1 Quarter
Series A preferred dividends declared for the period	`DividendsPreferredStock`	$1.86M	USD	1 Quarter
Series A preferred dividends declared for the period	`DividendsPreferredStock`	$1.86M	USD	1 Quarter
Series A preferred dividends declared for the period	`DividendsPreferredStock`	$1.86M	USD	1 Quarter
Series A preferred dividends declared for the period	`DividendsPreferredStock`	$1.86M	USD	1 Quarter
Dividends and distributions declared for the period	`DividendsCommonStock`	$68.94M	USD	1 Quarter
Dividends and distributions declared for the period	`DividendsCommonStock`	$66.19M	USD	1 Quarter
Dividends and distributions declared for the period	`DividendsCommonStock`	$54.11M	USD	1 Quarter
Dividends and distributions declared for the period	`DividendsCommonStock`	$49.89M	USD	1 Quarter
Amortization, changes in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$16.56M	USD	1 Quarter
Amortization, changes in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$20.66M	USD	1 Quarter
Amortization, changes in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$2.71M	USD	1 Quarter
Amortization, changes in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$-629.00K	USD	1 Quarter
Net income	`ProfitLoss`	$41.77M	USD	1 Quarter
Net income	`ProfitLoss`	$41.02M	USD	1 Quarter
Net income	`ProfitLoss`	$36.13M	USD	1 Quarter
Net income	`ProfitLoss`	$36.29M	USD	1 Quarter
Net income	`ProfitLoss`	$72.42M	USD	2 Qtrs
Net income	`ProfitLoss`	$82.79M	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.97B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.42B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.68B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.63B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.98B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.80B	USD	Point-in-time

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