CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Real Estate Investments
Land	$ 1,215,065	$ 1,094,550
Buildings	2,534,818	2,371,553
Less accumulated depreciation	(185,946)	(172,577)
Real estate investments excluding property under development	3,563,937	3,293,526
Property under development	11,088	10,653
Net Real Estate Investments	3,575,025	3,304,179
Real Estate Held for Sale, net	13,549	1,199
Cash and Cash Equivalents	7,369	6,137
Cash Held in Escrows		1,818
Accounts Receivable - Tenants	40,700	37,808
Lease Intangibles, net of accumulated amortization of $138,188 and $125,995 at March 31, 2021 and December 31, 2020, respectively	545,376	473,592
Other Assets, net	96,383	61,450
Total Assets	4,278,402	3,886,183
LIABILITIES
Mortgage Notes Payable, net	32,953	33,122
Unsecured Term Loans, net	237,955	237,849
Senior Unsecured Notes, net	855,454	855,328
Unsecured Revolving Credit Facility	238,000	92,000
Dividends and Distributions Payable	13,324	34,545
Accounts Payable, Accrued Expenses, and Other Liabilities	66,186	71,390
Lease Intangibles, net of accumulated amortization of $26,030 and $24,651 at March 31, 2021 and December 31, 2020, respectively	34,654	35,700
Total Liabilities	1,478,526	1,359,934
EQUITY
Common stock, $.0001 par value, 90,000,000 shares authorized, 64,145,778 and 60,021,483 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	6	6
Preferred Stock, $.0001 par value per share, 4,000,000 shares authorized
Additional paid-in-capital	2,909,914	2,652,090
Dividends in excess of net income	(101,137)	(91,343)
Accumulated other comprehensive income (loss)	(10,760)	(36,266)
Total Equity - Agree Realty Corporation	2,798,023	2,524,487
Non-controlling interest	1,853	1,762
Total Equity	2,799,876	2,526,249
Total Liabilities and Equity	$ 4,278,402	$ 3,886,183