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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Rental Income $ 55,783,000 $ 42,345,000
Other 26,000 3,000
Total Revenues 55,809,000 42,348,000
Operating Expenses    
Real estate taxes 4,702,000 3,622,000
Property operating expenses 2,335,000 1,739,000
Land lease expense 328,000 195,000
General and administrative 4,658,000 4,035,000
Depreciation and amortization 14,132,000 9,864,000
Provision for impairment 0 416,000
Total Operating Expenses 26,155,000 19,871,000
Income from Operations 29,654,000 22,477,000
Other (Expense) Income    
Interest expense, net (9,669,000) (7,558,000)
Gain (loss) on sale of assets, net 1,645,000 3,427,000
Income tax (expense) benefit (260,000) 170,000
Net Income 21,370,000 18,516,000
Less Net Income Attributable to Non-Controlling Interest 141,000 169,000
Net Income Attributable to Agree Realty Corporation $ 21,229,000 $ 18,347,000
Net Income Per Share Attributable to Agree Realty Corporation    
Basic $ 0.47 $ 0.49
Diluted $ 0.46 $ 0.48
Other Comprehensive Income    
Net income $ 21,370,000 $ 18,516,000
Changes in fair value of interest rate swaps (33,025,000) (3,405,000)
Realized gain (loss) on settlement of interest rate swaps (17,000)  
Total Comprehensive Income (Loss) (11,672,000) 15,111,000
Less Comprehensive Income (Loss) Attributable to Non-Controlling Interest (109,000) 138,000
Comprehensive Income (Loss) Attributable to Agree Realty Corporation $ (11,563,000) $ 14,973,000
Weighted Average Number of Common Shares Outstanding - Basic 45,436,191 37,487,851
Weighted Average Number of Common Shares Outstanding - Diluted 45,565,054 38,320,307