CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Real Estate Investments
Land	$ 2,305,313	$ 2,282,354
Buildings	4,937,878	4,861,692
Less accumulated depreciation	(463,827)	(433,958)
Real estate investments excluding property under development	6,779,364	6,710,088
Property under development	42,109	33,232
Net Real Estate Investments	6,821,473	6,743,320
Real Estate Held for Sale, net	5,416	3,642
Cash and Cash Equivalents	6,314	10,907
Cash Held in Escrows	9,120	3,617
Accounts Receivable - Tenants, net	91,301	82,954
Lease Intangibles, net of accumulated amortization of $383,456 and $360,061 at March 31, 2024 and December 31, 2023, respectively	840,984	854,088
Other Assets, net	94,057	76,308
Total Assets	7,868,665	7,774,836
LIABILITIES
Mortgage Notes Payable, net	42,666	42,811
Unsecured Term Loan, net	346,947	346,798
Senior Unsecured Notes, net	1,794,874	1,794,312
Unsecured Revolving Credit Facility	330,000	227,000
Dividends and Distributions Payable	25,561	25,534
Accounts Payable, Accrued Expenses, and Other Liabilities	112,385	101,401
Lease Intangibles, net of accumulated amortization of $42,684 and $42,813 at March 31, 2024 and December 31, 2023, respectively	36,757	36,827
Total Liabilities	2,689,190	2,574,683
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 March 31, 2024 and December 31, 2023	175,000	175,000
Common stock, $.0001 par value, 180,000,000 shares authorized, 100,628,975 and 100,519,355 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	10	10
Additional paid-in-capital	5,354,362	5,354,120
Dividends in excess of net income	(378,205)	(346,473)
Accumulated other comprehensive income	27,430	16,554
Total Equity - Agree Realty Corporation	5,178,597	5,199,211
Non-controlling interest	878	942
Total Equity	5,179,475	5,200,153
Total Liabilities and Equity	$ 7,868,665	$ 7,774,836