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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Real Estate Investments    
Land $ 1,459,526 $ 1,094,550
Buildings 2,863,568 2,371,553
Less accumulated depreciation (216,775) (172,577)
Real estate investments excluding property under development 4,106,319 3,293,526
Property under development 7,728 10,653
Net Real Estate Investments 4,114,047 3,304,179
Real Estate Held for Sale, net 5,571 1,199
Cash and Cash Equivalents 91,881 6,137
Cash Held in Escrows 10,927 1,818
Accounts Receivable - Tenants 52,854 37,808
Lease Intangibles, net of accumulated amortization of $164,517 and $125,995 at September 30, 2021 and December 31, 2020, respectively 645,594 473,592
Other Assets, net 76,626 61,450
Total Assets 4,997,500 3,886,183
LIABILITIES    
Mortgage Notes Payable, net 32,607 33,122
Unsecured Term Loans, net   237,849
Senior Unsecured Notes, net 1,494,747 855,328
Unsecured Revolving Credit Facility   92,000
Dividends and Distributions Payable 15,507 34,545
Accounts Payable, Accrued Expenses, and Other Liabilities 80,494 71,390
Lease Intangibles, net of accumulated amortization of $28,303 and $24,651 at September 30, 2021 and December 31, 2020, respectively 32,544 35,700
Total Liabilities 1,655,899 1,359,934
EQUITY    
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 September 30, 2021, no shares issued and outstanding at December 31, 2020 175,000
Common stock, $.0001 par value, 180,000,000 and 90,000,000 shares authorized, 69,779,748 and 60,021,483 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively 7 6
Additional paid-in-capital 3,300,227 2,652,090
Dividends in excess of net income (130,455) (91,343)
Accumulated other comprehensive income (loss) (4,893) (36,266)
Total Equity - Agree Realty Corporation 3,339,886 2,524,487
Non-controlling interest 1,715 1,762
Total Equity 3,341,601 2,526,249
Total Liabilities and Equity $ 4,997,500 $ 3,886,183