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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues        
Minimum rents $ 10,261,931 $ 7,985,347 $ 19,897,794 $ 15,802,406
Percentage rents 0 7,618 20,061 22,725
Operating cost reimbursement 645,517 612,166 1,237,290 1,148,928
Other income 0 27,874 0 45,101
Total Revenues 10,907,448 8,633,005 21,155,145 17,019,160
Operating Expenses        
Real estate taxes 558,711 492,404 1,025,221 968,478
Property operating expenses 301,979 221,905 659,371 556,706
Land lease payments 106,975 181,075 213,950 362,150
General and administrative 1,594,507 1,428,580 3,080,874 2,836,175
Depreciation and amortization 2,290,767 1,671,487 4,242,130 3,147,335
Total Operating Expenses 4,852,939 3,995,451 9,221,546 7,870,844
Income from Operations 6,054,509 4,637,554 11,933,599 9,148,316
Other Income (Expense)        
Interest expense, net (1,525,012) (1,145,652) (2,965,205) (2,281,698)
Income From Continuing Operations 4,529,497 3,491,902 8,968,394 6,866,618
Discontinued Operations        
Gain on sale of assets from discontinued operations 0 1,159,307 946,347 2,067,467
Income from discontinued operations 0 438,781 7,014 897,741
Total Discontinued Operations 0 1,598,088 953,361 2,965,208
Net Income 4,529,497 5,089,990 9,921,755 9,831,826
Less Net Income Attributable to Non-Controlling Interest 116,871 150,238 258,350 295,795
Net Income Attributable to Agree Realty Corporation 4,412,626 4,939,752 9,663,405 9,536,031
Basic Earnings (Loss) Per Share        
Continuing operations (in dollars per share) $ 0.34 $ 0.30 $ 0.68 $ 0.61
Discontinued operations (in dollars per share) $ 0 $ 0.14 $ 0.07 $ 0.26
Earnings Per Share, Basic (in dollars per share) $ 0.34 $ 0.44 $ 0.75 $ 0.87
Diluted Earnings (Loss) Per Share        
Continuing operations (in dollars per share) $ 0.34 $ 0.30 $ 0.68 $ 0.61
Discontinued operations (in dollars per share) $ 0 $ 0.14 $ 0.07 $ 0.26
Earnings Per Share, Diluted (in dollars per share) $ 0.34 $ 0.44 $ 0.75 $ 0.87
Other Comprehensive Income        
Net income 4,529,497 5,089,990 9,921,755 9,831,826
Other Comprehensive Income (Loss) 1,311,525 (579,936) 1,562,194 (527,145)
Total Comprehensive Income 5,841,022 4,510,054 11,483,949 9,304,681
Comprehensive Income Attributable to Non-Controlling Interest (150,446) (133,130) (298,493) (280,308)
Comprehensive Income Attributable to Agree Realty Corporation $ 5,690,576 $ 4,376,924 $ 11,185,456 $ 9,024,373
Weighted Average Number of Common Share Outstanding - Basic (in shares) 12,985,353 11,183,299 12,817,668 10,953,463
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares) 13,065,542 11,213,440 12,889,344 10,990,394