Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Significant Accounting Policies

Schedule of Real Estate Properties Held-For-Sale [Table Text Block]

Real estate held for sale consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020		December 31, 2019
Land	$	2,405	$	2,269
Building		5,288		2,315
Lease Intangibles - Asset		880		—
		8,573		4,584
Accumulated depreciation and amortization		(778)		(834)
Total Real Estate Held for Sale, net	$	7,795	$	3,750

Schedule of Amortization of Deferred Expenses [Table Text Block]

The following schedule summarizes the Company’s amortization of lease intangibles for the three months ended March 31, 2020 and 2019 (in thousands):

	Three Months Ended
	March 31, 2020		March 31, 2019
Lease Intangibles (In-place)	$	3,508	$	2,052
Lease Intangibles (Above-Market)		5,051		4,374
Lease Intangibles (Below-Market)		(1,242)		(1,098)
Total	$	7,317	$	5,328

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

The following schedule represents estimated future amortization of lease intangibles as of March 31, 2020 (in thousands):

	2020
Year Ending December 31,	(remaining)		2021		2022		2023		2024		Thereafter		Total
Lease Intangibles (In-place)	$	14,668	$	13,406	$	12,596	$	11,626	$	10,378	$	54,804	$	117,478
Lease Intangibles (Above-Market)		20,623		20,434		19,373		18,482		16,665		141,630		237,207
Lease Intangibles (Below-Market)		(5,226)		(4,466)		(3,789)		(2,874)		(2,199)		(8,787)		(27,341)
Total	$	30,065	$	29,374	$	28,180	$	27,234	$	24,844	$	187,647	$	327,344

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

The following is a reconciliation of the numerator and denominator for the basic net earnings per common share and diluted net earnings per common share computation for each of the periods presented: (in thousands, except for share data)

	Three Months Ended
	March 31, 2020		March 31, 2019
Net income attributable to Agree Realty Corporation	$	21,229	$	18,347
Less: Income attributable to unvested restricted shares		(81)		(96)
Net income used in basic and diluted earnings per share	$	21,148	$	18,251
Weighted average number of common shares outstanding		45,615,400		37,688,915
Less: Unvested restricted stock		(179,209)		(201,064)
Weighted average number of common shares outstanding used in basic earnings per share		45,436,191		37,487,851
Weighted average number of common shares outstanding used in basic earnings per share		45,436,191		37,487,851
Effect of dilutive securities: share-based compensation		69,069		65,781
Effect of dilutive securities: September 2018 forward equity offering		—		766,675
Effect of dilutive securities: 2019 ATM forward equity offerings		57,158		—
Effect of dilutive securities: 2020 ATM forward equity offerings		2,636		—
Weighted average number of common shares outstanding used in diluted earnings per share		45,565,054		38,320,307