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Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share

3. Earnings Per Share Earnings per share has been computed by dividing the net income attributable to Agree Realty Corporation by the weighted average number of common shares outstanding.   The following is a reconciliation of the denominator of the basic net earnings per common share computation to the denominator of the diluted net earnings per common share computation for each of the periods presented:

			Three Months Ended June 30,
			2011				2010
	Weighted average number of common shares outstanding			9,857,314				9,490,849
	Unvested restricted stock			(228,440	)			(173,020	)
	Weighted average number of common shares outstanding used in basic earnings per share			9,628,874				9,317,829
	Weighted average number of common shares outstanding used in basic earnings per share			9,628,874				9,317,829
	Effect of dilutive securities:
	Restricted stock			27,047				31,867
	Common stock options			—				—
	Weighted average number of common shares outstanding used in diluted earnings per share			9,655,921				9,349,696

			Six Months Ended June 30,
			2011				2010
	Weighted average number of common shares outstanding			9,853,512				8,881,021
	Unvested restricted stock			(228,440	)			(173,020	)
	Weighted average number of common shares outstanding used in basic earnings per share			9,625,072				8,708,001
	Weighted average number of common shares outstanding used in basic earnings per share			9,625,072				8,708,001
	Effect of dilutive securities:
	Restricted stock			31,527				26,193
	Common stock options			—				—
	Weighted average number of common shares outstanding used in diluted earnings per share			9,656,599				8,734,194

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

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