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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Real Estate Investments    
Land $ 1,658,905 $ 1,559,434
Buildings 3,286,755 3,034,391
Less accumulated depreciation (253,180) (233,862)
Real estate investments excluding property under development 4,692,480 4,359,963
Property under development 39,218 7,148
Net Real Estate Investments 4,731,698 4,367,111
Real Estate Held for Sale, net 0 5,676
Cash and Cash Equivalents 24,888 43,252
Cash Held in Escrows 878 1,998
Accounts Receivable - Tenants, net 59,411 53,442
Lease Intangibles, net of accumulated amortization of $198,936 and $180,532 at March 31, 2022 and December 31, 2021, respectively 716,509 672,020
Other Assets, net 105,206 83,407
Total Assets 5,638,590 5,226,906
LIABILITIES    
Mortgage Notes Payable, net 32,249 32,429
Senior Unsecured Notes, net 1,495,650 1,495,200
Unsecured Revolving Credit Facility 320,000 160,000
Dividends and Distributions Payable 17,763 16,881
Accounts Payable, Accrued Expenses, and Other Liabilities 63,476 70,005
Lease Intangibles, net of accumulated amortization of $31,184 and $29,726 at March 31, 2022 and December 31, 2021, respectively 33,711 33,075
Total Liabilities 1,962,849 1,807,590
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 March 31, 2022 and December 31, 2021 175,000 175,000
Common stock, $.0001 par value, 180,000,000 shares authorized, 75,174,580 and 71,285,311 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively 8 7
Additional paid-in-capital 3,646,770 3,395,549
Dividends in excess of net income (162,765) (147,366)
Accumulated other comprehensive income (loss) 15,060 (5,503)
Total Equity - Agree Realty Corporation 3,674,073 3,417,687
Non-controlling interest 1,668 1,629
Total Equity 3,675,741 3,419,316
Total Liabilities and Equity $ 5,638,590 $ 5,226,906