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10-Q Filing

AGREE REALTY CORP CIK: 917251 Q3 2023
Filing Information
Form Type 10-Q
Accession Number 0001558370-23-016665
Period End Date 20230930
Filing Date 20231024
Fiscal Year 2023
Fiscal Period Q3
XBRL Instance adc-20230930x10q_htm.xml
Filing Contents
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Land Land $2.23B USD Point-in-time
Land Land $1.94B USD Point-in-time
Buildings InvestmentBuildingAndBuildingImprovements $4.05B USD Point-in-time
Buildings InvestmentBuildingAndBuildingImprovements $4.75B USD Point-in-time
Less accumulated depreciation RealEstateInvestmentPropertyAccumulatedDepreciation $403.50M USD Point-in-time
Less accumulated depreciation RealEstateInvestmentPropertyAccumulatedDepreciation $321.14M USD Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars) FiniteLivedIntangibleAssetsAccumulatedAmortization $263.01M 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 $6.58B USD Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars) FiniteLivedIntangibleAssetsAccumulatedAmortization $335.07M USD Point-in-time
Below market lease, accumulated amortization (in dollars) BelowMarketLeaseAccumulatedAmortization $40.67M 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
Property under development DevelopmentInProcess $36.11M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Net Real Estate Investments RealEstateInvestmentPropertyNet $5.74B USD Point-in-time
Net Real Estate Investments RealEstateInvestmentPropertyNet $6.61B 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
Real Estate Held for Sale, net RealEstateHeldForSaleNetTotal $3.20M USD Point-in-time
Cash and Cash Equivalents CashAndCashEquivalentsAtCarryingValue $6.38M USD Point-in-time
Cash and Cash Equivalents CashAndCashEquivalentsAtCarryingValue $27.76M USD Point-in-time
Cash Held in Escrows EscrowDeposit $1.15M USD Point-in-time
Cash Held in Escrows EscrowDeposit $3.00K USD Point-in-time
Accounts Receivable - Tenants, net AccountsReceivableNet $65.84M USD Point-in-time
Accounts Receivable - Tenants, net AccountsReceivableNet $77.75M 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
Common stock, shares authorized CommonStockSharesAuthorized 180.00M shares Point-in-time
Lease Intangibles, net of accumulated amortization of $335,073 and $263,011 at September 30, 2023 and December 31, 2022, respectively FiniteLivedIntangibleAssetAcquiredInPlaceLeases $849.19M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 180.00M shares Point-in-time
Lease Intangibles, net of accumulated amortization of $335,073 and $263,011 at September 30, 2023 and December 31, 2022, respectively FiniteLivedIntangibleAssetAcquiredInPlaceLeases $799.45M USD Point-in-time
Other Assets, net OtherAssets $77.92M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 100.52M shares Point-in-time
Other Assets, net OtherAssets $96.27M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 90.17M shares Point-in-time
Total Assets Assets $7.65B USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 90.17M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 100.52M shares Point-in-time
Total Assets Assets $6.71B USD Point-in-time
Mortgage Notes Payable, net SecuredDebt $47.97M USD Point-in-time
Mortgage Notes Payable, net SecuredDebt $42.95M USD Point-in-time
Unsecured Term Loan, net UnsecuredDebt $346.64M 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 $100.00M USD Point-in-time
Unsecured Revolving Credit Facility LineOfCredit $49.00M USD Point-in-time
Dividends and Distributions Payable DividendsPayableCurrentAndNoncurrent $25.13M USD Point-in-time
Dividends and Distributions Payable DividendsPayableCurrentAndNoncurrent $22.34M USD Point-in-time
Accounts Payable, Accrued Expenses, and Other Liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $83.72M USD Point-in-time
Accounts Payable, Accrued Expenses, and Other Liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $106.75M USD Point-in-time
Lease Intangibles, net of accumulated amortization of $40,667 and $35,992 at September 30, 2023 and December 31, 2022, respectively BelowMarketLeaseNet $37.46M USD Point-in-time
Lease Intangibles, net of accumulated amortization of $40,667 and $35,992 at September 30, 2023 and December 31, 2022, respectively BelowMarketLeaseNet $36.71M USD Point-in-time
Total Liabilities Liabilities $2.40B 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 September 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 September 30, 2023 and December 31, 2022 PreferredStockValue $175.00M USD Point-in-time
Common stock, $.0001 par value, 180,000,000 shares authorized, 100,519,717 and 90,173,424 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively CommonStockValue $10.00K USD Point-in-time
Common stock, $.0001 par value, 180,000,000 shares authorized, 100,519,717 and 90,173,424 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively CommonStockValue $9.00K USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapital $5.35B 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 $316.08M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $33.29M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $23.55M USD Point-in-time
Total Equity - Agree Realty Corporation StockholdersEquity $4.63B USD Point-in-time
Total Equity - Agree Realty Corporation StockholdersEquity $5.24B USD Point-in-time
Non-controlling interest MinorityInterest $1.11M USD Point-in-time
Non-controlling interest MinorityInterest $1.39M USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.42B USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.63B USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.25B USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.80B USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.97B USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.68B USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.55B USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.98B USD Point-in-time
Total Liabilities and Equity LiabilitiesAndStockholdersEquity $7.65B USD Point-in-time
Total Liabilities and Equity LiabilitiesAndStockholdersEquity $6.71B USD Point-in-time
Income Statement 131 line items
Line Item Tag Value Unit Period
Rental income RevenueFromContractWithCustomerIncludingAssessedTax $393.26M USD 3 Qtrs
Rental income RevenueFromContractWithCustomerIncludingAssessedTax $313.14M USD 3 Qtrs
Rental income RevenueFromContractWithCustomerIncludingAssessedTax $110.03M USD 1 Quarter
Rental income RevenueFromContractWithCustomerIncludingAssessedTax $136.77M USD 1 Quarter
Other RevenueNotFromContractWithCustomerOther $147.00K USD 3 Qtrs
Other RevenueNotFromContractWithCustomerOther $71.00K USD 3 Qtrs
Other RevenueNotFromContractWithCustomerOther $38.00K USD 1 Quarter
Other RevenueNotFromContractWithCustomerOther $34.00K USD 1 Quarter
Total Revenues Revenues $393.33M USD 3 Qtrs
Total Revenues Revenues $110.06M USD 1 Quarter
Total Revenues Revenues $136.81M USD 1 Quarter
Total Revenues Revenues $313.28M USD 3 Qtrs
Real estate taxes RealEstateTaxExpense $24.12M USD 3 Qtrs
Real estate taxes RealEstateTaxExpense $29.43M USD 3 Qtrs
Real estate taxes RealEstateTaxExpense $10.12M USD 1 Quarter
Real estate taxes RealEstateTaxExpense $8.53M USD 1 Quarter
Property operating expenses OperatingLeaseInitialDirectCostExpenseOverTerm $5.52M USD 1 Quarter
Property operating expenses OperatingLeaseInitialDirectCostExpenseOverTerm $18.12M USD 3 Qtrs
Property operating expenses OperatingLeaseInitialDirectCostExpenseOverTerm $13.57M USD 3 Qtrs
Property operating expenses OperatingLeaseInitialDirectCostExpenseOverTerm $4.56M USD 1 Quarter
Land lease expense OperatingLeaseExpense $404.00K USD 1 Quarter
Land lease expense OperatingLeaseExpense $1.21M USD 3 Qtrs
Land lease expense OperatingLeaseExpense $411.00K USD 1 Quarter
Land lease expense OperatingLeaseExpense $1.25M USD 3 Qtrs
General and administrative GeneralAndAdministrativeExpense $26.09M USD 3 Qtrs
General and administrative GeneralAndAdministrativeExpense $6.99M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $22.27M USD 3 Qtrs
General and administrative GeneralAndAdministrativeExpense $8.84M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $95.67M USD 3 Qtrs
Depreciation and amortization DepreciationAndAmortization $45.62M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $129.02M USD 3 Qtrs
Depreciation and amortization DepreciationAndAmortization $35.16M USD 1 Quarter
Provision for impairment ImpairmentOfLongLivedAssetsHeldForUse $4.51M USD 3 Qtrs
Provision for impairment ImpairmentOfLongLivedAssetsHeldForUse $3.19M USD 1 Quarter
Provision for impairment ImpairmentOfLongLivedAssetsHeldForUse $1.01M USD 3 Qtrs
Provision for impairment ImpairmentOfLongLivedAssetsHeldForUse - USD 1 Quarter
Total Operating Expenses CostsAndExpenses $55.64M USD 1 Quarter
Total Operating Expenses CostsAndExpenses $157.85M USD 3 Qtrs
Total Operating Expenses CostsAndExpenses $208.42M USD 3 Qtrs
Total Operating Expenses CostsAndExpenses $73.72M USD 1 Quarter
Gain (loss) on sale of assets, net GainsLossesOnSalesOfAssets $5.33M USD 3 Qtrs
Gain (loss) on sale of assets, net GainsLossesOnSalesOfAssets $3.00M USD 1 Quarter
Gain (loss) on sale of assets, net GainsLossesOnSalesOfAssets $-20.00K USD 1 Quarter
Gain (loss) on sale of assets, net GainsLossesOnSalesOfAssets $299.00K USD 3 Qtrs
Gain (loss) on involuntary conversion, net GainLossOnInvoluntaryConversionOfAssets $-115.00K USD 1 Quarter
Gain (loss) on involuntary conversion, net GainLossOnInvoluntaryConversionOfAssets $-165.00K USD 3 Qtrs
Gain (loss) on involuntary conversion, net GainLossOnInvoluntaryConversionOfAssets - USD 1 Quarter
Income from Operations OperatingIncomeLoss $185.21M USD 3 Qtrs
Income from Operations OperatingIncomeLoss $57.31M USD 1 Quarter
Income from Operations OperatingIncomeLoss $63.08M USD 1 Quarter
Income from Operations OperatingIncomeLoss $160.59M USD 3 Qtrs
Interest expense, net InterestExpense $46.59M USD 3 Qtrs
Interest expense, net InterestExpense $17.15M USD 1 Quarter
Interest expense, net InterestExpense $20.80M USD 1 Quarter
Interest expense, net InterestExpense $58.75M USD 3 Qtrs
Income tax (expense) benefit IncomeTaxExpenseBenefit $720.00K USD 1 Quarter
Income tax (expense) benefit IncomeTaxExpenseBenefit $2.14M USD 3 Qtrs
Income tax (expense) benefit IncomeTaxExpenseBenefit $2.20M USD 3 Qtrs
Income tax (expense) benefit IncomeTaxExpenseBenefit $709.00K USD 1 Quarter
Other (expense) income OtherNonoperatingIncomeExpense $132.00K USD 1 Quarter
Other (expense) income OtherNonoperatingIncomeExpense $132.00K USD 3 Qtrs
Other (expense) income OtherNonoperatingIncomeExpense $184.00K USD 3 Qtrs
Other (expense) income OtherNonoperatingIncomeExpense $94.00K USD 1 Quarter
Net Income ProfitLoss $124.45M USD 3 Qtrs
Net Income ProfitLoss $41.77M USD 1 Quarter
Net Income ProfitLoss $41.02M USD 1 Quarter
Net Income ProfitLoss $112.00M USD 3 Qtrs
Net Income ProfitLoss $36.13M USD 1 Quarter
Net Income ProfitLoss $41.66M USD 1 Quarter
Net Income ProfitLoss $39.58M USD 1 Quarter
Net Income ProfitLoss $36.29M USD 1 Quarter
Less net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $485.00K USD 3 Qtrs
Less net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $152.00K USD 1 Quarter
Less net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $442.00K USD 3 Qtrs
Less net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $135.00K USD 1 Quarter
Net income attributable to Agree Realty Corporation NetIncomeLoss $39.42M USD 1 Quarter
Net income attributable to Agree Realty Corporation NetIncomeLoss $124.00M USD 3 Qtrs
Net income attributable to Agree Realty Corporation NetIncomeLoss $111.51M USD 3 Qtrs
Net income attributable to Agree Realty Corporation NetIncomeLoss $41.52M USD 1 Quarter
Less Series A preferred stock dividends PreferredStockDividendsIncomeStatementImpact $1.86M USD 1 Quarter
Less Series A preferred stock dividends PreferredStockDividendsIncomeStatementImpact $1.86M USD 1 Quarter
Less Series A preferred stock dividends PreferredStockDividendsIncomeStatementImpact $5.58M USD 3 Qtrs
Less Series A preferred stock dividends PreferredStockDividendsIncomeStatementImpact $5.58M USD 3 Qtrs
Net Income Attributable to Common Stockholders NetIncomeLossAvailableToCommonStockholdersBasic $118.43M USD 3 Qtrs
Net Income Attributable to Common Stockholders NetIncomeLossAvailableToCommonStockholdersBasic $37.57M USD 1 Quarter
Net Income Attributable to Common Stockholders NetIncomeLossAvailableToCommonStockholdersBasic $39.66M USD 1 Quarter
Net Income Attributable to Common Stockholders NetIncomeLossAvailableToCommonStockholdersBasic $105.93M USD 3 Qtrs
Basic EarningsPerShareBasic $1.40 USD 3 Qtrs
Basic EarningsPerShareBasic $0.47 USD 1 Quarter
Basic EarningsPerShareBasic $0.41 USD 1 Quarter
Basic EarningsPerShareBasic $1.26 USD 3 Qtrs
Diluted EarningsPerShareDiluted $1.26 USD 3 Qtrs
Diluted EarningsPerShareDiluted $1.39 USD 3 Qtrs
Diluted EarningsPerShareDiluted $0.41 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.46 USD 1 Quarter
Net income ProfitLoss $124.45M USD 3 Qtrs
Net income ProfitLoss $41.77M USD 1 Quarter
Net income ProfitLoss $41.02M USD 1 Quarter
Net income ProfitLoss $112.00M USD 3 Qtrs
Net income ProfitLoss $36.13M USD 1 Quarter
Net income ProfitLoss $41.66M USD 1 Quarter
Net income ProfitLoss $39.58M USD 1 Quarter
Net income ProfitLoss $36.29M USD 1 Quarter
Amortization of interest rate swaps OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement $-109.00K USD 3 Qtrs
Amortization of interest rate swaps OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement $-631.00K USD 1 Quarter
Amortization of interest rate swaps OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement $-1.89M USD 3 Qtrs
Amortization of interest rate swaps OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement $-273.00K USD 1 Quarter
Change in fair value and settlement of interest rate swaps OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $29.88M USD 3 Qtrs
Change in fair value and settlement of interest rate swaps OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $8.32M USD 1 Quarter
Change in fair value and settlement of interest rate swaps OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $-7.18M USD 1 Quarter
Change in fair value and settlement of interest rate swaps OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $11.66M USD 3 Qtrs
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $134.22M USD 3 Qtrs
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $141.77M USD 3 Qtrs
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $32.12M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $49.35M USD 1 Quarter
Less comprehensive income (loss) attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $477.00K USD 3 Qtrs
Less comprehensive income (loss) attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $630.00K USD 3 Qtrs
Less comprehensive income (loss) attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $121.00K USD 1 Quarter
Less comprehensive income (loss) attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $162.00K USD 1 Quarter
Comprehensive Income (Loss) Attributable to Agree Realty Corporation ComprehensiveIncomeNetOfTax $49.19M USD 1 Quarter
Comprehensive Income (Loss) Attributable to Agree Realty Corporation ComprehensiveIncomeNetOfTax $141.14M USD 3 Qtrs
Comprehensive Income (Loss) Attributable to Agree Realty Corporation ComprehensiveIncomeNetOfTax $32.00M USD 1 Quarter
Comprehensive Income (Loss) Attributable to Agree Realty Corporation ComprehensiveIncomeNetOfTax $133.74M USD 3 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic WeightedAverageNumberOfSharesOutstandingBasic 97.26M shares 1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic WeightedAverageNumberOfSharesOutstandingBasic 75.36M shares 3 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic WeightedAverageNumberOfSharesOutstandingBasic 93.47M shares 3 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic WeightedAverageNumberOfSharesOutstandingBasic 79.70M shares 1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted WeightedAverageNumberOfDilutedSharesOutstanding 93.73M shares 3 Qtrs
Weighted Average Number of Common Shares Outstanding - Diluted WeightedAverageNumberOfDilutedSharesOutstanding 80.59M shares 1 Quarter
Weighted Average Number of Common Shares Outstanding - Diluted WeightedAverageNumberOfDilutedSharesOutstanding 75.89M shares 3 Qtrs
Weighted Average Number of Common Shares Outstanding - Diluted WeightedAverageNumberOfDilutedSharesOutstanding 97.35M shares 1 Quarter
Cash Flow Statement 94 line items
Line Item Tag Value Unit Period
Real estate inventory, capitalized interest costs RealEstateInventoryCapitalizedInterestCosts $816.00K USD Point-in-time
Real estate inventory, capitalized interest costs RealEstateInventoryCapitalizedInterestCosts $1.67M USD Point-in-time
Mortgage debt discount AmortizationOfDebtDiscountPremium $2.55M USD 3 Qtrs
Net income ProfitLoss $124.45M USD 3 Qtrs
Net income ProfitLoss $41.77M USD 1 Quarter
Net income ProfitLoss $41.02M USD 1 Quarter
Net income ProfitLoss $112.00M USD 3 Qtrs
Net income ProfitLoss $36.13M USD 1 Quarter
Net income ProfitLoss $41.66M USD 1 Quarter
Net income ProfitLoss $39.58M USD 1 Quarter
Net income ProfitLoss $36.29M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $95.67M USD 3 Qtrs
Depreciation and amortization DepreciationAndAmortization $45.62M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $129.02M USD 3 Qtrs
Depreciation and amortization DepreciationAndAmortization $35.16M USD 1 Quarter
Amortization from above (below) market lease intangibles, net AmortizationOfAboveAndBelowMarketLeases $24.86M USD 3 Qtrs
Amortization from above (below) market lease intangibles, net AmortizationOfAboveAndBelowMarketLeases $25.61M USD 3 Qtrs
Amortization from financing costs, credit facility costs and debt discount AmortizationOfFinancingCostsAndDiscounts $2.94M USD 3 Qtrs
Amortization from financing costs, credit facility costs and debt discount AmortizationOfFinancingCostsAndDiscounts $3.47M USD 3 Qtrs
Stock-based compensation ShareBasedCompensation $6.18M USD 3 Qtrs
Stock-based compensation ShareBasedCompensation $4.89M USD 3 Qtrs
Straight-line accrued rent StraightLineRent $8.94M USD 3 Qtrs
Straight-line accrued rent StraightLineRent $9.42M USD 3 Qtrs
Provision for impairment ImpairmentOfLongLivedAssetsHeldForUse $4.51M USD 3 Qtrs
Provision for impairment ImpairmentOfLongLivedAssetsHeldForUse $3.19M USD 1 Quarter
Provision for impairment ImpairmentOfLongLivedAssetsHeldForUse $1.01M USD 3 Qtrs
Provision for impairment ImpairmentOfLongLivedAssetsHeldForUse - USD 1 Quarter
Gain (loss) on settlement of interest rate swaps GainLossOnSettlementOfInterestRateSwaps $-28.41M USD 3 Qtrs
Gain (loss) on settlement of interest rate swaps GainLossOnSettlementOfInterestRateSwaps - USD 3 Qtrs
(Gain) loss on sale of assets GainLossOnDispositionOfAssets1 $5.33M USD 3 Qtrs
(Gain) loss on sale of assets GainLossOnDispositionOfAssets1 $299.00K USD 3 Qtrs
(Increase) decrease in accounts receivable IncreaseDecreaseInAccountsReceivable $15.23M USD 3 Qtrs
(Increase) decrease in accounts receivable IncreaseDecreaseInAccountsReceivable $3.08M USD 3 Qtrs
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $7.93M USD 3 Qtrs
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-11.32M USD 3 Qtrs
Increase (decrease) in accounts payable, accrued expenses, and other liabilities IncreaseDecreaseInAccountsPayable $20.60M USD 3 Qtrs
Increase (decrease) in accounts payable, accrued expenses, and other liabilities IncreaseDecreaseInAccountsPayable $17.82M USD 3 Qtrs
Net Cash Provided by Operating Activities NetCashProvidedByUsedInOperatingActivities $268.94M USD 3 Qtrs
Net Cash Provided by Operating Activities NetCashProvidedByUsedInOperatingActivities $293.59M USD 3 Qtrs
Acquisition of real estate investments and other assets PaymentsToAcquireRealEstate $1.01B USD 3 Qtrs
Acquisition of real estate investments and other assets PaymentsToAcquireRealEstate $1.17B USD 3 Qtrs
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $1,669 in 2023 and $816 in 2022) PaymentsToDevelopRealEstateAssets $60.97M USD 3 Qtrs
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $1,669 in 2023 and $816 in 2022) PaymentsToDevelopRealEstateAssets $76.62M USD 3 Qtrs
Payment of leasing costs PaymentsForLeasingCosts $167.00K USD 3 Qtrs
Payment of leasing costs PaymentsForLeasingCosts $372.00K USD 3 Qtrs
Net proceeds from sale of assets ProceedsFromSaleOfProductiveAssets $3.27M USD 3 Qtrs
Net proceeds from sale of assets ProceedsFromSaleOfProductiveAssets $43.92M USD 3 Qtrs
Net Cash Used in Investing Activities NetCashProvidedByUsedInInvestingActivities $-1.18B USD 3 Qtrs
Net Cash Used in Investing Activities NetCashProvidedByUsedInInvestingActivities $-1.08B USD 3 Qtrs
Proceeds from common stock offerings, net ProceedsFromIssuanceOfCommonStock $1.15B USD 3 Qtrs
Proceeds from common stock offerings, net ProceedsFromIssuanceOfCommonStock $689.99M USD 3 Qtrs
Repurchase of common shares PaymentsForRepurchaseOfCommonStock $1.89M USD 3 Qtrs
Repurchase of common shares PaymentsForRepurchaseOfCommonStock $2.67M USD 3 Qtrs
Unsecured revolving credit facility borrowings ProceedsFromLinesOfCredit $1.00B USD 3 Qtrs
Unsecured revolving credit facility borrowings ProceedsFromLinesOfCredit $925.00M USD 3 Qtrs
Unsecured revolving credit facility repayments RepaymentsOfLinesOfCredit $1.08B USD 3 Qtrs
Unsecured revolving credit facility repayments RepaymentsOfLinesOfCredit $1.06B USD 3 Qtrs
Payments of mortgage notes payable RepaymentsOfSecuredDebt $5.30M USD 3 Qtrs
Payments of mortgage notes payable RepaymentsOfSecuredDebt $633.00K USD 3 Qtrs
Proceeds from unsecured term loan ProceedsFromIssuanceOfUnsecuredDebt $350.00M USD 3 Qtrs
Proceeds from senior unsecured notes ProceedsFromUnsecuredNotesPayable $297.51M USD 3 Qtrs
Proceeds from senior unsecured notes ProceedsFromUnsecuredNotesPayable - USD 3 Qtrs
Payment of Series A preferred dividends PaymentsOfDividendsPreferredStockAndPreferenceStock $5.58M USD 3 Qtrs
Payment of Series A preferred dividends PaymentsOfDividendsPreferredStockAndPreferenceStock $5.58M USD 3 Qtrs
Payment of common stock dividends PaymentsOfDividendsCommonStock $203.59M USD 3 Qtrs
Payment of common stock dividends PaymentsOfDividendsCommonStock $157.06M USD 3 Qtrs
Distributions to non-controlling interest PaymentsToMinorityShareholders $756.00K USD 3 Qtrs
Distributions to non-controlling interest PaymentsToMinorityShareholders $722.00K USD 3 Qtrs
Payments for financing costs PaymentsOfFinancingCosts $3.50M USD 3 Qtrs
Payments for financing costs PaymentsOfFinancingCosts $2.65M USD 3 Qtrs
Net Cash Provided by Financing Activities NetCashProvidedByUsedInFinancingActivities $767.59M USD 3 Qtrs
Net Cash Provided by Financing Activities NetCashProvidedByUsedInFinancingActivities $1.12B USD 3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $206.26M USD 3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-22.52M USD 3 Qtrs
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, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $28.91M USD Point-in-time
Cash and cash equivalents and cash held in escrow, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $251.51M USD Point-in-time
Cash and cash equivalents and cash held in escrow, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $6.39M USD Point-in-time
Cash and cash equivalents and cash held in escrow, end 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 $251.51M USD Point-in-time
Cash and cash equivalents and cash held in escrow, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $6.39M USD Point-in-time
Cash paid for interest (net of amounts capitalized) InterestPaidNet $47.83M USD 3 Qtrs
Cash paid for interest (net of amounts capitalized) InterestPaidNet $45.70M USD 3 Qtrs
Cash paid for income tax IncomeTaxesPaidNet $3.04M USD 3 Qtrs
Cash paid for income tax IncomeTaxesPaidNet $2.38M USD 3 Qtrs
Lease right of use assets added under new ground leases AdditionalRightOfUseAssetsAddedUnderNewGroundLeases - USD 3 Qtrs
Lease right of use assets added under new ground leases AdditionalRightOfUseAssetsAddedUnderNewGroundLeases $1.82M USD 3 Qtrs
Mortgage note payable assumed, net of $2,548 mortgage debt discount NotesAssumed1 - USD 3 Qtrs
Mortgage note payable assumed, net of $2,548 mortgage debt discount NotesAssumed1 $39.70M USD 3 Qtrs
Dividends declared and unpaid DividendsPayableCurrentAndNoncurrent $25.13M USD Point-in-time
Dividends declared and unpaid DividendsPayableCurrentAndNoncurrent $22.34M USD Point-in-time
Change in accrual of development, construction and other real estate investment costs AccrualOfDevelopmentConstructionAndOtherRealEstateInvestmentCosts $2.34M USD 3 Qtrs
Change in accrual of development, construction and other real estate investment costs AccrualOfDevelopmentConstructionAndOtherRealEstateInvestmentCosts $2.44M USD 3 Qtrs
Stockholders Equity 63 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.42B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.63B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.25B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.80B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.97B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.68B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.55B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.98B USD Point-in-time
Issuance of common stock, net of issuance costs StockIssuedDuringPeriodValueNewIssues $289.75M USD 1 Quarter
Issuance of common stock, net of issuance costs StockIssuedDuringPeriodValueNewIssues $601.09M 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 $300.11M 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 $205.10M USD 1 Quarter
Repurchase of common shares StockRepurchasedDuringPeriodValue $57.00K USD 1 Quarter
Repurchase of common shares StockRepurchasedDuringPeriodValue $8.00K USD 1 Quarter
Repurchase of common shares StockRepurchasedDuringPeriodValue $76.00K USD 1 Quarter
Repurchase of common shares StockRepurchasedDuringPeriodValue $66.00K USD 1 Quarter
Repurchase of common shares StockRepurchasedDuringPeriodValue $1.75M USD 1 Quarter
Repurchase of common shares StockRepurchasedDuringPeriodValue $2.61M USD 1 Quarter
Issuance of restricted stock under the Omnibus Incentive Plan StockIssuedDuringPeriodValueRestrictedStockAwardGross $648.00K USD 1 Quarter
Forfeiture of restricted stock StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures $61.00K USD 1 Quarter
Forfeiture of restricted stock StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures $3.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.64M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.74M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.83M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.18M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.17M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.57M 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
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 $72.00M USD 1 Quarter
Dividends and distributions declared for the period DividendsCommonStock $49.89M 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 $58.33M USD 1 Quarter
Amortization, changes in fair value and settlement of interest rate swaps OtherComprehensiveIncomeLossNetOfTax $7.69M USD 1 Quarter
Amortization, changes in fair value and settlement of interest rate swaps OtherComprehensiveIncomeLossNetOfTax $-629.00K 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 $16.56M USD 1 Quarter
Amortization, changes in fair value and settlement of interest rate swaps OtherComprehensiveIncomeLossNetOfTax $-7.45M USD 1 Quarter
Amortization, changes in fair value and settlement of interest rate swaps OtherComprehensiveIncomeLossNetOfTax $2.71M USD 1 Quarter
Net income ProfitLoss $124.45M USD 3 Qtrs
Net income ProfitLoss $41.77M USD 1 Quarter
Net income ProfitLoss $41.02M USD 1 Quarter
Net income ProfitLoss $112.00M USD 3 Qtrs
Net income ProfitLoss $36.13M USD 1 Quarter
Net income ProfitLoss $41.66M USD 1 Quarter
Net income ProfitLoss $39.58M USD 1 Quarter
Net income ProfitLoss $36.29M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.42B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.63B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.25B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.80B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.97B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.68B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.55B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.98B USD Point-in-time

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

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