CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Real Estate Investments
Land	$ 2,090,557	$ 1,941,599
Buildings	4,476,493	4,054,679
Less accumulated depreciation	(374,917)	(321,142)
Real estate investments excluding property under development	6,192,133	5,675,136
Property under development	81,526	65,932
Net Real Estate Investments	6,273,659	5,741,068
Cash and Cash Equivalents	8,068	27,763
Cash Held in Escrows	4,179	1,146
Accounts Receivable - Tenants, net	70,929	65,841
Lease Intangibles, net of accumulated amortization of $310,845 and $263,011 at June 30, 2023 and December 31, 2022, respectively	825,998	799,448
Other Assets, net	89,173	77,923
Total Assets	7,272,006	6,713,189
LIABILITIES
Mortgage Notes Payable, net	47,701	47,971
Senior Unsecured Notes, net	1,793,198	1,792,047
Unsecured Revolving Credit Facility	303,000	100,000
Dividends and Distributions Payable	24,098	22,345
Accounts Payable, Accrued Expenses, and Other Liabilities	87,692	83,722
Lease Intangibles, net of accumulated amortization of $38,945 and $35,992 at June 30, 2023 and December 31, 2022, respectively	38,272	36,714
Total Liabilities	2,293,961	2,082,799
EQUITY
Preferred stock, $.0001 par value per share, 4,000,000 shares authorized, 7,000 shares Series A outstanding, at stated liquidation value of $25,000 per share, at June 30, 2023 and December 31, 2022	175,000	175,000
Common stock, $.0001 par value, 180,000,000 shares authorized, 96,269,336 and 90,173,424 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	10	9
Additional paid-in-capital	5,060,200	4,658,570
Dividends in excess of net income	(283,995)	(228,132)
Accumulated other comprehensive income (loss)	25,625	23,551
Total Equity - Agree Realty Corporation	4,976,840	4,628,998
Non-controlling interest	1,205	1,392
Total Equity	4,978,045	4,630,390
Total Liabilities and Equity	$ 7,272,006	$ 6,713,189