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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Significant Accounting Policies

Schedule of Real Estate Properties Held-For-Sale [Table Text Block]

Real estate held for sale consisted of the following as of December 31, 2019 and December 31, 2018 (in thousands):

​	​	​	​	​	​	​
​		December 31, 2019			December 31, 2018
Land	​	$	2,269	​	$	—
Building	​		2,315	​		—
​	​		4,584	​		—
Accumulated depreciation and amortization	​		(834)	​		—
Total Real Estate Held for Sale, net	​	$	3,750	​	$	—

Schedule of Amortization of Deferred Expenses [Table Text Block]

The following schedule summarizes the Company’s amortization of lease intangibles for the years ended December 31, 2019, 2018, and 2017 (in thousands):

​	​	​	​	​	​	​	​	​	​	​
​	​	​	For the Year Ended December 31,
​		​	2019			2018			2017
Lease Intangibles (In-place)	​	​	$	10,619	​	$	7,877	​	$	6,353
Lease Intangibles (Above-Market)	​	​		18,107	​		14,871	​		9,707
Lease Intangibles (Below-Market)	​	​		(4,607)	​		(4,203)	​		(4,275)
Total	​	​	$	24,119	​	$	18,545	​	$	11,785

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​		​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Year Ending December 31,		​	2020			2021			2022			2023			2024			Thereafter			Total
Lease Intangibles (In-place)	​	​	$	13,351		$	12,258		$	11,392		$	10,614		$	9,502	​	$	52,814		$	109,931
Lease Intangibles (Above-Market)	​	​		19,462			19,273			18,980			18,126			16,473	​		141,268			233,582
Lease Intangibles (Below-Market)	​	​		(4,868)	​		(4,435)	​		(3,525)	​		(2,954)	​		(2,265)	​		(8,621)	​		(26,668)
Total	​	​	$	27,945		$	27,096		$	26,847		$	25,786		$	23,710	​	$	185,461		$	316,845

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following is a reconciliation of 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:

​	​	​	​	​	​	​	​	​	​
​	​	​	Year Ended December 31,
​		​	2019	​		2018	​		2017
Net income attributable to Agree Realty Corporation	​	$	80,081	​	$	58,172	​	$	58,112
Less: Income attributable to unvested restricted shares	​	​	(379)	​	​	(370)	​	​	(454)
Net income used in basic and diluted earnings per share	​	$	79,702	​	$	57,802	​	$	57,658
​	​	​	​	​	​	​	​	​	​
Weighted average number of common shares outstanding	​	​	40,771,300	​		32,281,273	​		27,852,231
Less: Unvested restricted stock	​	​	(193,954)	​		(211,018)	​		(227,129)
Weighted average number of common shares outstanding used in basic earnings per share	​	​	40,577,346	​		32,070,255	​		27,625,102
​	​	​	​	​		​	​		​
Weighted average number of common shares outstanding used in basic earnings per share	​	​	40,577,346	​		32,070,255	​		27,625,102
Effect of dilutive securities: Share-based compensation	​	​	98,740	​		69,136	​		75,245
Effect of dilutive securities: March 2018 forward equity offering	​	​	—	​	​	198,786	​	​	—
Effect of dilutive securities: September 2018 forward equity offering	​	​	269,785	​	​	62,945	​	​	—
Effect of dilutive securities: April 2019 forward equity offering	​	​	277,225	​		—	​		—
Effect of dilutive securities: 2019 ATM forward equity offerings	​	​	518	​		—	​		—
Weighted average number of common shares outstanding used in diluted earnings per share	​	​	41,223,614	​		32,401,122	​		27,700,347

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