CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Real Estate Investments
Land	$ 794,616	$ 735,991
Buildings	1,733,003	1,600,293
Less accumulated depreciation	(135,376)	(127,748)
Real estate investments excluding property under development	2,392,243	2,208,536
Property under development	5,372	10,056
Net Real Estate Investments	2,397,615	2,218,592
Real Estate Held for Sale, net	7,795	3,750
Cash and Cash Equivalents	72,091	15,603
Cash Held in Escrows	20,049	26,554
Accounts Receivable - Tenants	27,747	26,808
Lease intangibles, net of accumulated amortization of $97,183 and $89,118 at March 31, 2020 and December 31, 2019, respectively	354,685	343,514
Other Assets, net	28,963	29,709
Total Assets	2,908,945	2,664,530
LIABILITIES
Mortgage Notes Payable, net	33,720	36,698
Unsecured Term Loans, net	237,453	237,403
Senior Unsecured Notes, net	509,226	509,198
Unsecured Revolving Credit Facility	242,000	89,000
Dividends and Distributions Payable	26,859	25,014
Accounts Payable, Accrued Expenses, and Other Liabilities	75,334	48,987
Lease intangibles, net of accumulated amortization of $20,319 and $19,307 at March 31, 2020 and December 31, 2019, respectively	27,341	26,668
Total Liabilities	1,151,933	972,968
EQUITY
Common stock, $.0001 par value, 90,000,000 shares authorized, 47,002,109 and 45,573,623 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	5	5
Preferred Stock, $.0001 par value per share, 4,000,000 shares authorized
Additional paid-in-capital	1,856,914	1,752,912
Dividends in excess of net income	(62,542)	(57,094)
Accumulated other comprehensive income (loss)	(39,291)	(6,492)
Total Equity - Agree Realty Corporation	1,755,086	1,689,331
Non-controlling interest	1,926	2,231
Total Equity	1,757,012	1,691,562
Total Liabilities and Equity	$ 2,908,945	$ 2,664,530