Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

4. 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 September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Weighted average number of common shares outstanding		11,436,044			9,858,175			11,283,037			9,855,084
Unvested restricted stock		(250,180	)		(222,340	)		(250,180	)		(222,340	)
Weighted average number of common shares outstanding used in basic earnings per share		11,185,864			9,635,835			11,032,857			9,632,744
Weighted average number of common shares outstanding used in basic earnings per share		11,185,864			9,635,835			11,032,857			9,632,744
Effect of dilutive securities:
Restricted stock		53,066			30,956			49,873			36,605
Weighted average number of common shares outstanding used in diluted earnings per share		11,238,930			9,666,791			11,082,730			9,669,349