Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Real Estate Properties [Table Text Block]

Real estate held for sale consisted of the following as of December 31, 2018 and December 31, 2017 (in thousands):


	December 31, 2018		December 31, 2017

Land	$	-	$	393
Buildings		-		1,857
Lease Intangibles (Asset)		-		557
		-		2,807
Accumulated depreciation and amortization		-		(387)
Total Real Estate Held for Sale, net	$	-	$	2,420

Schedule of Amortization of Deferred Expenses [Table Text Block]

The following schedule summarizes the Company’s amortization of deferred expenses for the years ended December 31, 2018, 2017 and 2016, respectively (in thousands):


	For the Year Ended December 31,
	2018		2017		2016

Credit Facility Financing Costs	$	477	$	405	$	228
Leasing Costs		243		161		124
Lease Intangibles (Asset)		22,650		16,060		11,093
Lease Intangibles (Liability)		(4,228)		(4,275)		(3,083)
Total	$	19,142	$	12,351	$	8,362

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The following schedule represents estimated future amortization of deferred expenses as of December 31, 2018 (in thousands):



Year Ending December 31,	2019		2020		2021		2022		2023		Thereafter		Total

Credit Facility Financing Costs	$	556	$	542	$	28	$	—	$	—	$	—	$	1,126
Leasing Costs		290		315		306		298		312		1,131		2,652
Lease Intangibles (Asset)		25,690		25,202		24,517		23,439		22,080		159,225		280,153
Lease Intangibles (Liability)		(4,413)		(4,313)		(4,028)		(3,129)		(2,567)		(8,768)		(27,218)
Total	$	22,123	$	21,746	$	20,823	$	20,608	$	19,825	$	151,588	$	256,713

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following is a reconciliation of 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:


		Year Ended December 31,
		2018		2017		2016
Net income attributable to Agree Realty Corporation	$	58,172	$	58,112	$	45,118
Less: Income attributable to unvested restricted shares		(370)		(454)		(424)
Net income used in basic and diluted earnings per share	$	57,802	$	57,658	$	44,694

Weighted average number of common shares outstanding		32,281,273		27,852,231		23,096,267
Less: Unvested restricted stock		(211,018)		(227,129)		(227,531)
Weighted average number of common shares outstanding used in basic earnings per share		32,070,255		27,625,102		22,868,736

Weighted average number of common shares outstanding used in basic earnings per share		32,070,255		27,625,102		22,868,736
Effect of dilutive securities: Restricted stock		69,136		75,245		91,063
Effect of dilutive securities: March 2018 forward equity offering		198,786		—		—
Effect of dilutive securities: September 2018 forward equity offering		62,945		—		—
Weighted average number of common shares outstanding used in diluted earnings per share		32,401,122		27,700,347		22,959,799

Operating Partnership Units ("OP Units")		347,619		347,619		347,619
Weighted average number of common shares and OP Units outstanding used in diluted earnings per share		32,748,741		28,047,966		23,307,418