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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Rental income $ 154,292 $ 136,774 $ 456,139 $ 393,259
Other 40 38 222 71
Total Revenues 154,332 136,812 456,361 393,330
Operating Expenses        
Real estate taxes 11,935 10,124 33,357 29,429
Property operating expenses 6,015 5,518 19,875 18,120
Land lease expense 421 411 1,251 1,252
General and administrative 9,114 8,844 28,336 26,087
Depreciation and amortization 51,504 45,625 150,421 129,020
Provision for impairment 2,694 3,195 7,224 4,510
Total Operating Expenses 81,683 73,717 240,464 208,418
Gain (loss) on sale of assets, net 1,850 (20) 11,102 299
Loss on involuntary conversion, net (56)   (91)  
Income from Operations 74,443 63,075 226,908 185,211
Other (Expense) Income        
Interest expense, net (28,942) (20,803) (79,809) (58,748)
Income and other tax expense (1,077) (709) (3,231) (2,201)
Other income 104 94 587 184
Net Income 44,528 41,657 144,455 124,446
Less net income attributable to non-controlling interest 153 135 497 442
Net income attributable to Agree Realty Corporation 44,375 41,522 143,958 124,004
Less Series A preferred stock dividends 1,859 1,859 5,578 5,578
Net Income Attributable to Common Stockholders $ 42,516 $ 39,663 $ 138,380 $ 118,426
Net Income Per Share Attributable to Common Stockholders        
Basic $ 0.42 $ 0.41 $ 1.38 $ 1.26
Diluted $ 0.42 $ 0.41 $ 1.37 $ 1.26
Other Comprehensive Income        
Net income $ 44,528 $ 41,657 $ 144,455 $ 124,446
Amortization of interest rate swaps (739) (631) (2,043) (1,889)
Change in fair value and settlement of interest rate swaps (11,760) 8,324 3,955 11,664
Total comprehensive income 32,029 49,350 146,367 134,221
Less comprehensive income attributable to non-controlling interest 110 162 504 477
Comprehensive Income Attributable to Agree Realty Corporation $ 31,919 $ 49,188 $ 145,863 $ 133,744
Weighted Average Number of Common Shares Outstanding - Basic 100,383,207 97,255,143 100,343,493 93,474,182
Weighted Average Number of Common Shares Outstanding - Diluted 101,715,311 97,349,473 100,882,858 93,732,359