CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Rental income	$ 126,609	$ 98,312
Other	9	30
Total Revenues	126,618	98,342
Operating Expenses
Real estate taxes	9,432	7,611
Property operating expenses	6,782	4,477
Land lease expense	430	402
General and administrative	8,821	7,622
Depreciation and amortization	40,646	28,561
Provision for impairment	0	1,015
Total Operating Expenses	66,111	49,688
Gain (loss) on sale of assets, net	0	2,310
Gain (loss) on involuntary conversion, net	0	(25)
Income from Operations	60,507	50,939
Other (Expense) Income
Interest expense, net	(17,998)	(13,931)
Income tax (expense) benefit	(783)	(719)
Other (expense) income	48	0
Net Income	41,774	36,289
Less net income attributable to non-controlling interest	160	176
Net income attributable to Agree Realty Corporation	41,614	36,113
Less Series A preferred stock dividends	1,859	1,859
Net Income Attributable to Common Stockholders	$ 39,755	$ 34,254
Net Income Per Share Attributable to Common Stockholders
Basic	$ 0.44	$ 0.48
Diluted	$ 0.44	$ 0.48
Other Comprehensive Income
Net income	$ 41,774	$ 36,289
Amortization of interest rate swaps	(629)	82
Change in fair value and settlement of interest rate swaps	0	20,581
Total comprehensive income (loss)	41,145	56,952
Less comprehensive income (loss) attributable to non-controlling interest	158	276
Comprehensive Income (Loss) Attributable to Agree Realty Corporation	$ 40,987	$ 56,676
Weighted Average Number of Common Shares Outstanding - Basic	90,028,255	71,228,930
Weighted Average Number of Common Shares Outstanding - Diluted	90,548,172	71,336,103