10-K Filing

AGREE REALTY CORP CIK: 917251 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001558370-24-001056`
Period End Date	20231231
Filing Date	20240213
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	adc-20231231x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 96 Cash Flow Statement 135 Stockholders Equity 35

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Land	`Land`	$1.94B	USD	Point-in-time
Land	`Land`	$2.28B	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$4.86B	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`	$433.96M	USD	Point-in-time
Real estate investments excluding property under development	`RealEstateInvestmentPropertyExcludingPropertyUnderDevelopmentNetOfAccumulatedDepreciation`	$6.71B	USD	Point-in-time
Real estate investments excluding property under development	`RealEstateInvestmentPropertyExcludingPropertyUnderDevelopmentNetOfAccumulatedDepreciation`	$5.68B	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$360.06M	USD	Point-in-time
Finite-lived intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$263.01M	USD	Point-in-time
Property under development	`DevelopmentInProcess`	$33.23M	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
Below market lease, accumulated amortization (in dollars)	`BelowMarketLeaseAccumulatedAmortization`	$42.81M	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
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$6.74B	USD	Point-in-time
Real Estate Held for Sale, net	`RealEstateHeldForSaleNetTotal`	$3.64M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Real Estate Held for Sale, net	`RealEstateHeldForSaleNetTotal`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.91M	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`	$3.62M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts Receivable - Tenants, net	`AccountsReceivableNet`	$82.95M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts Receivable - Tenants, net	`AccountsReceivableNet`	$65.84M	USD	Point-in-time
Lease Intangibles, net of accumulated amortization of $360,061 and $263,011 at December 31, 2023 and December 31, 2022, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$854.09M	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
Lease Intangibles, net of accumulated amortization of $360,061 and $263,011 at December 31, 2023 and December 31, 2022, respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$799.45M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	90.17M	shares	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`	$76.31M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	90.17M	shares	Point-in-time
Total Assets	`Assets`	$6.71B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	100.52M	shares	Point-in-time
Total Assets	`Assets`	$7.77B	USD	Point-in-time
Mortgage Notes Payable, net	`SecuredDebt`	$42.81M	USD	Point-in-time
Mortgage Notes Payable, net	`SecuredDebt`	$47.97M	USD	Point-in-time
Unsecured Term Loan, net	`UnsecuredDebt`	-	USD	Point-in-time
Unsecured Term Loan, net	`UnsecuredDebt`	$346.80M	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`	$227.00M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$22.34M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$25.53M	USD	Point-in-time
Accounts Payable, Accrued Expenses, and Other Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$101.40M	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 $42,813 and $35,992 at December 31, 2023 and December 31, 2022, respectively	`BelowMarketLeaseNet`	$36.71M	USD	Point-in-time
Lease Intangibles, net of accumulated amortization of $42,813 and $35,992 at December 31, 2023 and December 31, 2022, respectively	`BelowMarketLeaseNet`	$36.83M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.08B	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.57B	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 December 31, 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 December 31, 2023 and December 31, 2022	`PreferredStockValue`	$175.00M	USD	Point-in-time
Common stock, $.0001 par value, 180,000,000 shares authorized, 100,519,355 and 90,173,424 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Common stock, $.0001 par value, 180,000,000 shares authorized, 100,519,355 and 90,173,424 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$4.66B	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$5.35B	USD	Point-in-time
Dividends in excess of net income	`AccumulatedDistributionsInExcessOfNetIncome`	$346.47M	USD	Point-in-time
Dividends in excess of net income	`AccumulatedDistributionsInExcessOfNetIncome`	$228.13M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$16.55M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$23.55M	USD	Point-in-time
Total Equity - Agree Realty Corporation	`StockholdersEquity`	$5.20B	USD	Point-in-time
Total Equity - Agree Realty Corporation	`StockholdersEquity`	$4.63B	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$942.00K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$1.39M	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.63B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.42B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.53B	USD	Point-in-time
Total Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.20B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$7.77B	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$6.71B	USD	Point-in-time

Income Statement 96 line items

Line Item	Tag	Value	Unit	Period
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$429.63M	USD	Annual
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$339.07M	USD	Annual
Rental income	`RevenueFromContractWithCustomerIncludingAssessedTax`	$537.40M	USD	Annual
Other	`RevenueNotFromContractWithCustomerOther`	$182.00K	USD	Annual
Other	`RevenueNotFromContractWithCustomerOther`	$256.00K	USD	Annual
Other	`RevenueNotFromContractWithCustomerOther`	$92.00K	USD	Annual
Total Revenues	`Revenues`	$537.50M	USD	Annual
Total Revenues	`Revenues`	$429.81M	USD	Annual
Total Revenues	`Revenues`	$339.32M	USD	Annual
Real estate taxes	`RealEstateTaxExpense`	$40.09M	USD	Annual
Real estate taxes	`RealEstateTaxExpense`	$25.51M	USD	Annual
Real estate taxes	`RealEstateTaxExpense`	$32.08M	USD	Annual
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$18.59M	USD	Annual
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$14.00M	USD	Annual
Property operating expenses	`OperatingLeaseInitialDirectCostExpenseOverTerm`	$24.96M	USD	Annual
Land lease expense	`OperatingLeaseExpense`	$1.66M	USD	Annual
Land lease expense	`OperatingLeaseExpense`	$1.62M	USD	Annual
Land lease expense	`OperatingLeaseExpense`	$1.55M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$25.46M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$34.79M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$30.12M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$133.57M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$176.28M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$95.73M	USD	Annual
Provision for impairment	`ImpairmentOfRealEstate`	$1.92M	USD	Annual
Provision for impairment	`ImpairmentOfRealEstate`	$7.17M	USD	Annual
Provision for impairment	`ImpairmentOfRealEstate`	$1.01M	USD	Annual
Total Operating Expenses	`CostsAndExpenses`	$164.16M	USD	Annual
Total Operating Expenses	`CostsAndExpenses`	$216.99M	USD	Annual
Total Operating Expenses	`CostsAndExpenses`	$284.96M	USD	Annual
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$5.34M	USD	Annual
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$14.94M	USD	Annual
Gain (loss) on sale of assets, net	`GainsLossesOnSalesOfAssets`	$1.85M	USD	Annual
Gain (loss) on involuntary conversion, net	`GainLossOnInvoluntaryConversionOfAssets`	$170.00K	USD	Annual
Gain (loss) on involuntary conversion, net	`GainLossOnInvoluntaryConversionOfAssets`	-	USD	Annual
Gain (loss) on involuntary conversion, net	`GainLossOnInvoluntaryConversionOfAssets`	$-83.00K	USD	Annual
Income from Operations	`OperatingIncomeLoss`	$218.09M	USD	Annual
Income from Operations	`OperatingIncomeLoss`	$190.27M	USD	Annual
Income from Operations	`OperatingIncomeLoss`	$254.39M	USD	Annual
Interest expense, net	`InterestExpense`	$81.12M	USD	Annual
Interest expense, net	`InterestExpense`	$50.38M	USD	Annual
Interest expense, net	`InterestExpense`	$63.44M	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$2.40M	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$2.86M	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$2.91M	USD	Annual
Loss on early extinguishment of term loans and settlement of related interest rate swaps	`GainLossOnEarlyExtinguishmentOfDebtAndSettlementOfRelatedInterestRateSwaps`	-	USD	Annual
Loss on early extinguishment of term loans and settlement of related interest rate swaps	`GainLossOnEarlyExtinguishmentOfDebtAndSettlementOfRelatedInterestRateSwaps`	$-14.61M	USD	Annual
Loss on early extinguishment of term loans and settlement of related interest rate swaps	`GainLossOnEarlyExtinguishmentOfDebtAndSettlementOfRelatedInterestRateSwaps`	-	USD	Annual
Other (expense) income	`OtherNonoperatingIncomeExpense`	$1.25M	USD	Annual
Other (expense) income	`OtherNonoperatingIncomeExpense`	$189.00K	USD	Annual
Other (expense) income	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Net Income	`ProfitLoss`	$170.55M	USD	Annual
Net Income	`ProfitLoss`	$122.88M	USD	Annual
Net Income	`ProfitLoss`	$153.03M	USD	Annual
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$598.00K	USD	Annual
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$588.00K	USD	Annual
Less net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$603.00K	USD	Annual
Net income attributable to Agree Realty Corporation	`NetIncomeLoss`	$152.44M	USD	Annual
Net income attributable to Agree Realty Corporation	`NetIncomeLoss`	$122.27M	USD	Annual
Net income attributable to Agree Realty Corporation	`NetIncomeLoss`	$169.96M	USD	Annual
Less Series A preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$7.44M	USD	Annual
Less Series A preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$7.44M	USD	Annual
Less Series A preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$2.15M	USD	Annual
Net Income Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$120.12M	USD	Annual
Net Income Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$162.52M	USD	Annual
Net Income Attributable to Common Stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$145.00M	USD	Annual
Basic	`EarningsPerShareBasic`	$1.84	USD	Annual
Basic	`EarningsPerShareBasic`	$1.70	USD	Annual
Basic	`EarningsPerShareBasic`	$1.79	USD	Annual
Diluted	`EarningsPerShareDiluted`	$1.78	USD	Annual
Diluted	`EarningsPerShareDiluted`	$1.83	USD	Annual
Diluted	`EarningsPerShareDiluted`	$1.70	USD	Annual
Net income	`ProfitLoss`	$170.55M	USD	Annual
Net income	`ProfitLoss`	$122.88M	USD	Annual
Net income	`ProfitLoss`	$153.03M	USD	Annual
Amortization of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$950.00K	USD	Annual
Amortization of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$-2.52M	USD	Annual
Amortization of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossFromSettlement`	$-684.00K	USD	Annual
Change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$29.88M	USD	Annual
Change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$29.98M	USD	Annual
Change in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-4.50M	USD	Annual
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$163.53M	USD	Annual
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$182.23M	USD	Annual
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$153.81M	USD	Annual
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$565.00K	USD	Annual
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$741.00K	USD	Annual
Less comprehensive income (loss) attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$770.00K	USD	Annual
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$181.49M	USD	Annual
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$153.04M	USD	Annual
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	`ComprehensiveIncomeNetOfTax`	$162.96M	USD	Annual
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	78.66M	shares	Annual
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	66.80M	shares	Annual
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	95.19M	shares	Annual
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	79.16M	shares	Annual
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	95.44M	shares	Annual
Weighted Average Number of Common Shares Outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	67.14M	shares	Annual

Cash Flow Statement 135 line items

Line Item	Tag	Value	Unit	Period
Real estate inventory, capitalized interest costs	`RealEstateInventoryCapitalizedInterestCosts`	$1.96M	USD	Point-in-time
Real estate inventory, capitalized interest costs	`RealEstateInventoryCapitalizedInterestCosts`	$249.00K	USD	Point-in-time
Real estate inventory, capitalized interest costs	`RealEstateInventoryCapitalizedInterestCosts`	$1.26M	USD	Point-in-time
Mortgage debt discount	`AmortizationOfDebtDiscountPremium`	$2.55M	USD	Annual
Mortgage debt discount	`AmortizationOfDebtDiscountPremium`	$2.50M	USD	Annual
Net income	`ProfitLoss`	$170.55M	USD	Annual
Net income	`ProfitLoss`	$122.88M	USD	Annual
Net income	`ProfitLoss`	$153.03M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$133.57M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$176.28M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$95.73M	USD	Annual
Amortization from above (below) market lease intangibles, net	`AmortizationOfAboveAndBelowMarketLeases`	$33.34M	USD	Annual
Amortization from above (below) market lease intangibles, net	`AmortizationOfAboveAndBelowMarketLeases`	$24.28M	USD	Annual
Amortization from above (below) market lease intangibles, net	`AmortizationOfAboveAndBelowMarketLeases`	$33.10M	USD	Annual
Amortization from financing costs, credit facility costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$2.36M	USD	Annual
Amortization from financing costs, credit facility costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$4.07M	USD	Annual
Amortization from financing costs, credit facility costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$4.74M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$8.34M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$4.80M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$6.46M	USD	Annual
Straight-line accrued rent	`StraightLineRent`	$13.18M	USD	Annual
Straight-line accrued rent	`StraightLineRent`	$12.14M	USD	Annual
Straight-line accrued rent	`StraightLineRent`	$11.86M	USD	Annual
Provision for impairment	`ImpairmentOfRealEstate`	$1.92M	USD	Annual
Provision for impairment	`ImpairmentOfRealEstate`	$7.17M	USD	Annual
Provision for impairment	`ImpairmentOfRealEstate`	$1.01M	USD	Annual
Gain (loss) on settlement of interest rate swaps	`GainLossOnSettlementOfInterestRateSwaps`	$-28.41M	USD	Annual
Gain (loss) on settlement of interest rate swaps	`GainLossOnSettlementOfInterestRateSwaps`	$-16.75M	USD	Annual
Gain (loss) on settlement of interest rate swaps	`GainLossOnSettlementOfInterestRateSwaps`	-	USD	Annual
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$14.94M	USD	Annual
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$5.34M	USD	Annual
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets1`	$1.85M	USD	Annual
Write-off of unamortized financing costs upon debt extinguishment	`WriteOffOfDeferredDebtIssuanceCost`	-	USD	Annual
Write-off of unamortized financing costs upon debt extinguishment	`WriteOffOfDeferredDebtIssuanceCost`	$1.25M	USD	Annual
Write-off of unamortized financing costs upon debt extinguishment	`WriteOffOfDeferredDebtIssuanceCost`	-	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-799.00K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.09M	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.45M	USD	Annual
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-121.00K	USD	Annual
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-4.89M	USD	Annual
(Increase) decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.23M	USD	Annual
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayable`	$10.83M	USD	Annual
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayable`	$15.05M	USD	Annual
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayable`	$10.38M	USD	Annual
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$391.60M	USD	Annual
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$362.12M	USD	Annual
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$246.31M	USD	Annual
Acquisition of real estate investments and other assets	`PaymentsToAcquireRealEstate`	$1.58B	USD	Annual
Acquisition of real estate investments and other assets	`PaymentsToAcquireRealEstate`	$1.21B	USD	Annual
Acquisition of real estate investments and other assets	`PaymentsToAcquireRealEstate`	$1.40B	USD	Annual
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $1,957 in 2023, $1,261 in 2022, and $249 in 2021)	`PaymentsToDevelopRealEstateAssets`	$82.37M	USD	Annual
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $1,957 in 2023, $1,261 in 2022, and $249 in 2021)	`PaymentsToDevelopRealEstateAssets`	$81.88M	USD	Annual
Development of real estate investments and other assets, net of reimbursements (including capitalized interest of $1,957 in 2023, $1,261 in 2022, and $249 in 2021)	`PaymentsToDevelopRealEstateAssets`	$41.46M	USD	Annual
Payment of leasing costs	`PaymentsForLeasingCosts`	$447.00K	USD	Annual
Payment of leasing costs	`PaymentsForLeasingCosts`	$468.00K	USD	Annual
Payment of leasing costs	`PaymentsForLeasingCosts`	$503.00K	USD	Annual
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$44.91M	USD	Annual
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$56.00M	USD	Annual
Net proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$13.84M	USD	Annual
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.39B	USD	Annual
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.62B	USD	Annual
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.27B	USD	Annual
Proceeds from Series A preferred stock offering, net	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$170.31M	USD	Annual
Proceeds from Series A preferred stock offering, net	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	Annual
Proceeds from Series A preferred stock offering, net	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	Annual
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$744.85M	USD	Annual
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$1.26B	USD	Annual
Proceeds from common stock offerings, net	`ProceedsFromIssuanceOfCommonStock`	$689.90M	USD	Annual
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$1.81M	USD	Annual
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$1.91M	USD	Annual
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$2.68M	USD	Annual
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$594.00M	USD	Annual
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$1.03B	USD	Annual
Unsecured revolving credit facility borrowings	`ProceedsFromLinesOfCredit`	$1.23B	USD	Annual
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	$526.00M	USD	Annual
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	$1.10B	USD	Annual
Unsecured revolving credit facility repayments	`RepaymentsOfLinesOfCredit`	$1.09B	USD	Annual
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$799.00K	USD	Annual
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$5.53M	USD	Annual
Payments of mortgage notes payable	`RepaymentsOfSecuredDebt`	$24.49M	USD	Annual
Proceeds from unsecured term loan	`ProceedsFromIssuanceOfUnsecuredDebt`	-	USD	Annual
Proceeds from unsecured term loan	`ProceedsFromIssuanceOfUnsecuredDebt`	-	USD	Annual
Proceeds from unsecured term loan	`ProceedsFromIssuanceOfUnsecuredDebt`	$350.00M	USD	Annual
Payments of unsecured term loans	`RepaymentsOfUnsecuredDebt`	-	USD	Annual
Payments of unsecured term loans	`RepaymentsOfUnsecuredDebt`	-	USD	Annual
Payments of unsecured term loans	`RepaymentsOfUnsecuredDebt`	$240.00M	USD	Annual
Proceeds from senior unsecured notes	`ProceedsFromUnsecuredNotesPayable`	$297.51M	USD	Annual
Proceeds from senior unsecured notes	`ProceedsFromUnsecuredNotesPayable`	$640.62M	USD	Annual
Proceeds from senior unsecured notes	`ProceedsFromUnsecuredNotesPayable`	-	USD	Annual
Payments on senior notes	`RepaymentsOfSeniorDebt`	-	USD	Annual
Payments on senior notes	`RepaymentsOfSeniorDebt`	-	USD	Annual
Payments on senior notes	`RepaymentsOfSeniorDebt`	-	USD	Annual
Payment of Series A preferred dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$7.44M	USD	Annual
Payment of Series A preferred dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$7.44M	USD	Annual
Payment of Series A preferred dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$1.53M	USD	Annual
Payment of common stock dividends	`PaymentsOfDividendsCommonStock`	$194.30M	USD	Annual
Payment of common stock dividends	`PaymentsOfDividendsCommonStock`	$277.68M	USD	Annual
Payment of common stock dividends	`PaymentsOfDividendsCommonStock`	$220.30M	USD	Annual
Distributions to non-controlling interest	`PaymentsToMinorityShareholders`	$1.01M	USD	Annual
Distributions to non-controlling interest	`PaymentsToMinorityShareholders`	$1.04M	USD	Annual
Distributions to non-controlling interest	`PaymentsToMinorityShareholders`	$971.00K	USD	Annual
Payments for financing costs	`PaymentsOfFinancingCosts`	$3.55M	USD	Annual
Payments for financing costs	`PaymentsOfFinancingCosts`	$6.70M	USD	Annual
Payments for financing costs	`PaymentsOfFinancingCosts`	$2.71M	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.24B	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$869.01M	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.18B	USD	Annual
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-16.34M	USD	Annual
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-14.38M	USD	Annual
Net Increase (Decrease) in Cash and Cash Equivalents and Cash Held in Escrow	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$37.30M	USD	Annual
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`	$7.96M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.52M	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`	$7.96M	USD	Point-in-time
Cash and cash equivalents and cash held in escrow, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.52M	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$56.15M	USD	Annual
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$87.48M	USD	Annual
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$58.78M	USD	Annual
Cash paid for income tax	`IncomeTaxesPaidNet`	$3.06M	USD	Annual
Cash paid for income tax	`IncomeTaxesPaidNet`	$1.82M	USD	Annual
Cash paid for income tax	`IncomeTaxesPaidNet`	$2.40M	USD	Annual
Lease right of use assets added under new ground leases	`AdditionalRightOfUseAssetsAddedUnderNewGroundLeases`	$1.82M	USD	Annual
Lease right of use assets added under new ground leases	`AdditionalRightOfUseAssetsAddedUnderNewGroundLeases`	-	USD	Annual
Lease right of use assets added under new ground leases	`AdditionalRightOfUseAssetsAddedUnderNewGroundLeases`	$6.30M	USD	Annual
Mortgage note payable assumed, net of $2,548 mortgage debt discount	`NotesAssumed1`	$39.70M	USD	Annual
Mortgage note payable assumed, net of $2,548 mortgage debt discount	`NotesAssumed1`	-	USD	Annual
Mortgage note payable assumed, net of $2,548 mortgage debt discount	`NotesAssumed1`	-	USD	Annual
Dividends declared and unpaid	`DividendsPayableCurrentAndNoncurrent`	$22.34M	USD	Point-in-time
Dividends declared and unpaid	`DividendsPayableCurrentAndNoncurrent`	$25.53M	USD	Point-in-time
Change in accrual of development, construction and other real estate investment costs	`AccrualOfDevelopmentConstructionAndOtherRealEstateInvestmentCosts`	$2.79M	USD	Annual
Change in accrual of development, construction and other real estate investment costs	`AccrualOfDevelopmentConstructionAndOtherRealEstateInvestmentCosts`	$3.20M	USD	Annual
Change in accrual of development, construction and other real estate investment costs	`AccrualOfDevelopmentConstructionAndOtherRealEstateInvestmentCosts`	$-5.54M	USD	Annual

Stockholders Equity 35 line items

Line Item	Tag	Value	Unit	Period
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$2.41	USD	Annual
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$2.81	USD	Annual
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$2.92	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.63B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.42B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.53B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.20B	USD	Point-in-time
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$744.85M	USD	Annual
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$1.26B	USD	Annual
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$689.90M	USD	Annual
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$1.81M	USD	Annual
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$2.68M	USD	Annual
Repurchase of common shares	`StockRepurchasedDuringPeriodValue`	$1.91M	USD	Annual
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	$61.00K	USD	Annual
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	$560.00K	USD	Annual
Forfeiture of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	$11.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$8.35M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.36M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.53M	USD	Annual
Series A preferred dividends declared for the period	`DividendsPreferredStock`	$2.15M	USD	Annual
Series A preferred dividends declared for the period	`DividendsPreferredStock`	$7.44M	USD	Annual
Series A preferred dividends declared for the period	`DividendsPreferredStock`	$7.44M	USD	Annual
Common stock dividends and distributions declared for the period	`DividendsCommonStock`	$177.05M	USD	Annual
Common stock dividends and distributions declared for the period	`DividendsCommonStock`	$226.74M	USD	Annual
Common stock dividends and distributions declared for the period	`DividendsCommonStock`	$281.88M	USD	Annual
Amortization, changes in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$29.20M	USD	Annual
Amortization, changes in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$30.93M	USD	Annual
Amortization, changes in fair value and settlement of interest rate swaps	`OtherComprehensiveIncomeLossNetOfTax`	$-7.02M	USD	Annual
Net income	`ProfitLoss`	$170.55M	USD	Annual
Net income	`ProfitLoss`	$122.88M	USD	Annual
Net income	`ProfitLoss`	$153.03M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.63B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.42B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.53B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.20B	USD	Point-in-time

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