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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Rental Income $ 187,279,000 $ 136,884,000 $ 110,685,000
Other 199,000 238,000 832,000
Total Revenues 187,478,000 137,122,000 111,517,000
Operating Expenses      
Real estate taxes 15,520,000 10,721,000 8,204,000
Property operating expenses 6,749,000 5,645,000 3,610,000
Land lease expense 1,242,000 645,000 653,000
General and administrative 15,566,000 11,756,000 9,428,000
Depreciation and amortization 45,703,000 33,030,000 26,661,000
Provision for impairment 1,609,000 2,319,000 0.0
Total Operating Expenses 86,389,000 64,116,000 48,556,000
Income from Operations 101,089,000 73,006,000 62,961,000
Other (Expense) Income      
Interest expense, net (33,094,000) (24,872,000) (18,137,000)
Gain (loss) on sale of assets, net 13,306,000 11,180,000 14,193,000
Income tax expense (538,000) (516,000) (227,000)
Net Income 80,763,000 58,798,000 58,790,000
Less Net Income Attributable to Non-Controlling Interest 682,000 626,000 678,000
Net Income Attributable to Agree Realty Corporation $ 80,081,000 $ 58,172,000 $ 58,112,000
Net Income Per Share Attributable to Agree Realty Corporation      
Basic $ 1.96 $ 1.80 $ 2.09
Diluted $ 1.93 $ 1.78 $ 2.08
Other Comprehensive Income      
Net income $ 80,763,000 $ 58,798,000 $ 58,790,000
Changes in fair value of interest rate swaps (8,775,000) 54,000 1,935,000
Realized gain (loss) on settlement of interest rate swaps 788,000    
Total Comprehensive Income 72,776,000 58,852,000 60,725,000
Less Comprehensive Income Attributable to Non-Controlling Interest 611,000 631,000 702,000
Comprehensive Income Attributable to Agree Realty Corporation $ 72,165,000 $ 58,221,000 $ 60,023,000
Weighted Average Number of Common Shares Outstanding - Basic 40,577,346 32,070,255 27,625,102
Weighted Average Number of Common Shares Outstanding - Diluted 41,223,614 32,401,122 27,700,347