Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

3. Earnings Per Share

Earnings per share has been computed by dividing the net income attributable to Agree Realty Corporation by the weighted average number of common shares outstanding.

The following is a reconciliation of the denominator of the basic net earnings per common share computation to the denominator of the diluted net earnings per common share computation for each of the periods presented:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Weighted average number of common shares outstanding		11,435,529			9,857,314			11,205,693			9,853,512
Unvested restricted stock		(252,230	)		(228,440	)		(252,230	)		(228,440	)
Weighted average number of common shares outstanding used in basic earnings per share		11,183,299			9,628,874			10,953,463			9,625,072
Weighted average number of common shares outstanding used in basic earnings per share		11,183,299			9,628,874			10,953,463			9,625,072
Effect of dilutive securities:
Restricted stock		30,141			27,047			36,932			31,527
Common stock options		-			-			-			-
Weighted average number of common shares outstanding used in diluted earnings per share		11,213,440			9,655,921			10,990,394			9,656,599