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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Rental income $ 152,424 $ 129,876 $ 301,847 $ 256,485
Other 151 24 182 33
Total Revenues 152,575 129,900 302,029 256,518
Operating Expenses        
Real estate taxes 10,721 9,874 21,422 19,305
Property operating expenses 6,487 5,821 13,860 12,602
Land lease expense 415 410 830 840
General and administrative 9,707 8,420 19,222 17,244
Depreciation and amortization 50,454 42,750 98,917 83,396
Provision for impairment 0 1,315 4,530 1,315
Total Operating Expenses 77,784 68,590 158,781 134,702
Gain on sale of assets, net 7,156 319 9,252 319
Gain (loss) on involuntary conversion, net 20 0 (35)  
Income from Operations 81,967 61,629 152,465 122,135
Other (Expense) Income        
Interest expense, net (26,416) (19,948) (50,867) (37,945)
Income and other tax expense (1,004) (709) (2,154) (1,492)
Other income 366 43 483 91
Net Income 54,913 41,015 99,927 82,789
Less net income attributable to non-controlling interest 189 147 344 307
Net income attributable to Agree Realty Corporation 54,724 40,868 99,583 82,482
Less Series A preferred stock dividends 1,859 1,859 3,718 3,718
Net Income Attributable to Common Stockholders $ 52,865 $ 39,009 $ 95,865 $ 78,764
Net Income Per Share Attributable to Common Stockholders        
Basic $ 0.53 $ 0.42 $ 0.95 $ 0.86
Diluted $ 0.52 $ 0.42 $ 0.95 $ 0.86
Other Comprehensive Income        
Net income $ 54,913 $ 41,015 $ 99,927 $ 82,789
Amortization of interest rate swaps (675) (630) (1,305) (1,259)
Change in fair value and settlement of interest rate swaps 4,172 3,341 15,716 3,341
Total comprehensive income 58,410 43,726 114,338 84,871
Less comprehensive income attributable to non-controlling interest 201 157 394 315
Comprehensive Income Attributable to Agree Realty Corporation $ 58,209 $ 43,569 $ 113,944 $ 84,556
Weighted Average Number of Common Shares Outstanding - Basic 100,349,943 93,053,870 100,319,591 91,549,390
Weighted Average Number of Common Shares Outstanding - Diluted 100,454,703 93,134,385 100,415,466 91,862,290