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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Rental income $ 183,191 $ 154,292 $ 527,701 $ 456,139
Other 31 40 208 222
Total Revenues 183,222 154,332 527,909 456,361
Operating Expenses        
Real estate taxes 13,173 11,935 37,519 33,357
Property operating expenses 8,243 6,015 25,040 19,875
Land lease expense 556 421 1,592 1,251
General and administrative 10,887 9,114 32,990 28,336
Depreciation and amortization 61,179 51,504 175,872 150,421
Provision for impairment 2,980 2,694 10,272 7,224
Total Operating Expenses 97,018 81,683 283,285 240,464
Gain on sale of assets, net 924 1,850 3,207 11,102
Gain (loss) on involuntary conversion, net 132 (56) 132 (91)
Income from Operations 87,260 74,443 247,963 226,908
Other (Expense) Income        
Interest expense, net (35,212) (28,942) (98,250) (79,809)
Income and other tax expense (225) (1,077) (1,475) (3,231)
Other income 456 104 542 587
Net Income 52,279 44,528 148,780 144,455
Less net income attributable to non-controlling interest 162 153 468 497
Net income attributable to Agree Realty Corporation 52,117 44,375 148,312 143,958
Less Series A preferred stock dividends 1,859 1,859 5,578 5,578
Net Income Attributable to Common Stockholders $ 50,258 $ 42,516 $ 142,734 $ 138,380
Net Income Per Share Attributable to Common Stockholders        
Basic $ 0.45 $ 0.42 $ 1.3 $ 1.38
Diluted $ 0.45 $ 0.42 $ 1.3 $ 1.37
Other Comprehensive Income        
Net income $ 52,279 $ 44,528 $ 148,780 $ 144,455
Amortization of interest rate swaps (1,077) (739) (2,692) (2,043)
Change in fair value and settlement of interest rate swaps 713 (11,760) (5,884) 3,955
Total comprehensive income 51,915 32,029 140,204 146,367
Less comprehensive income attributable to non-controlling interest 161 110 441 504
Comprehensive Income Attributable to Agree Realty Corporation $ 51,754 $ 31,919 $ 139,763 $ 145,863
Weighted Average Number of Common Shares Outstanding - Basic 111,277,316 100,383,207 109,383,735 100,343,493
Weighted Average Number of Common Shares Outstanding - Diluted 111,511,615 101,715,311 109,875,336 100,882,858