$ADC
AGREE REALTY CORP Stock $adc

$adc Overview Financials Valuation SEC Filings Company Website

2017 Q1 Form 10-Q Financial Statement

#000114420417021724 Filed on April 24, 2017

Income Statement

Concept	2017 Q1	2016 Q1
Revenue	$26.56M	$20.22M
YoY Change	31.33%	28.46%
Cost Of Revenue	$2.610M	$1.700M
YoY Change	53.53%	27.82%
Gross Profit	$23.96M	$18.53M
YoY Change	29.3%	28.59%
Gross Profit Margin	90.21%	91.62%
Selling, General & Admin	$2.640M	$2.210M
YoY Change	19.46%	22.78%
% of Gross Profit	11.02%	11.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$4.510M	$3.378M
YoY Change	33.51%	31.38%
% of Gross Profit	18.82%	18.23%
Operating Expenses	$9.660M	$7.290M
YoY Change	32.51%	36.01%
Operating Profit	$14.29M	$11.24M
YoY Change	27.16%	24.07%
Interest Expense	$4.138M	$3.648M
YoY Change	13.42%	48.26%
% of Operating Profit	28.97%	32.47%
Other Income/Expense, Net	$0.00
YoY Change
Pretax Income	$14.89M	$7.590M
YoY Change	96.18%	16.95%
Income Tax	$122.0K	$0.00
% Of Pretax Income	0.82%	0.0%
Net Earnings	$14.58M	$7.461M
YoY Change	95.35%	17.15%
Net Earnings / Revenue	54.88%	36.89%
Basic Earnings Per Share	$0.56	$0.36
Diluted Earnings Per Share	$0.56	$0.36
COMMON SHARES
Basic Shares Outstanding	25.95M shares	20.44M shares
Diluted Shares Outstanding	26.01M shares	20.48M shares

Balance Sheet

Concept	2017 Q1	2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$2.300M	$3.700M
YoY Change	-37.84%	-53.16%
Cash & Equivalents	$2.300M	$3.711M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$13.10M	$7.800M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$15.40M	$11.50M
YoY Change	33.91%	-10.16%
LONG-TERM ASSETS
Property, Plant & Equipment	$983.9M	$730.4M
YoY Change	34.71%	26.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$3.000M	$1.200M
YoY Change	150.0%	-66.67%
Total Long-Term Assets	$1.143B	$814.1M
YoY Change	40.38%	27.15%
TOTAL ASSETS
Total Short-Term Assets	$15.40M	$11.50M
Total Long-Term Assets	$1.143B	$814.1M
Total Assets	$1.158B	$825.6M
YoY Change	40.29%	26.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$100.0K	$0.00
YoY Change
Accrued Expenses	$2.700M	$2.000M
YoY Change	35.0%	233.33%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$20.90M	$18.20M
YoY Change	14.84%	109.2%
LONG-TERM LIABILITIES
Long-Term Debt	$415.3M	$349.7M
YoY Change	18.76%	23.48%
Other Long-Term Liabilities	$33.80M	$6.600M
YoY Change	412.12%	29.41%
Total Long-Term Liabilities	$449.1M	$356.3M
YoY Change	26.05%	23.59%
TOTAL LIABILITIES
Total Short-Term Liabilities	$20.90M	$18.20M
Total Long-Term Liabilities	$449.1M	$356.3M
Total Liabilities	$473.3M	$375.1M
YoY Change	26.18%	24.96%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock	$3.000K	$2.075K
YoY Change	44.58%	17.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$685.0M	$448.0M
YoY Change
Total Liabilities & Shareholders Equity	$1.158B	$825.6M
YoY Change	40.3%	26.42%

Cashflow Statement

Concept	2017 Q1	2016 Q1
OPERATING ACTIVITIES
Net Income	$14.58M	$7.461M
YoY Change	95.35%	17.15%
Depreciation, Depletion And Amortization	$4.510M	$3.378M
YoY Change	33.51%	31.38%
Cash From Operating Activities	$15.57M	$16.50M
YoY Change	-5.63%	83.2%
INVESTING ACTIVITIES
Capital Expenditures	-$56.60M	$33.30M
YoY Change	-269.97%	-155.04%
Acquisitions
YoY Change
Other Investing Activities	$9.800M	$0.00
YoY Change		-100.0%
Cash From Investing Activities	-$46.82M	-$39.70M
YoY Change	17.94%	-33.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$945.0K	-$1.289M
YoY Change	-173.31%	-1462.1%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$158.0K	24.20M
YoY Change	-99.35%	-54.4%
NET CHANGE
Cash From Operating Activities	$15.57M	16.50M
Cash From Investing Activities	-$46.82M	-39.70M
Cash From Financing Activities	$158.0K	24.20M
Net Change In Cash	-$31.10M	1.000M
YoY Change	-3209.5%	-60.31%
FREE CASH FLOW
Cash From Operating Activities	$15.57M	$16.50M
Capital Expenditures	-$56.60M	$33.30M
Free Cash Flow	$72.17M	-$16.80M
YoY Change	-529.59%	-124.17%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2017Q1	us-gaap	Interest Rate Derivative Assets At Fair Value InterestRateDerivativeAssetsAtFairValue	1561000	USD
CY2016Q4	us-gaap	Interest Rate Derivative Assets At Fair Value InterestRateDerivativeAssetsAtFairValue	1409000	USD
CY2017Q1	us-gaap	Secured Debt SecuredDebt	68539000	USD
CY2016Q4	us-gaap	Secured Debt SecuredDebt	69067000	USD
CY2017Q1	us-gaap	Unsecured Debt UnsecuredDebt	158557000	USD
CY2016Q4	us-gaap	Unsecured Debt UnsecuredDebt	158679000	USD
CY2017Q1	us-gaap	Line Of Credit LineOfCredit	29000000	USD
CY2016Q4	us-gaap	Line Of Credit LineOfCredit	14000000	USD
CY2016Q4	us-gaap	Common Stock Value CommonStockValue	3000	USD
CY2017Q1	us-gaap	Common Stock Value CommonStockValue	3000	USD
CY2016Q1	us-gaap	Costs And Expenses CostsAndExpenses	8989000	USD
CY2017Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2016Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2017Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	711753000	USD
CY2016Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	712069000	USD
CY2017Q1	us-gaap	Accumulated Distributions In Excess Of Net Income AccumulatedDistributionsInExcessOfNetIncome	26962000	USD
CY2016Q4	us-gaap	Accumulated Distributions In Excess Of Net Income AccumulatedDistributionsInExcessOfNetIncome	28558000	USD
CY2017Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	195000	USD
CY2016Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-536000	USD
CY2017Q1	us-gaap	Stockholders Equity StockholdersEquity	684989000	USD
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	682978000	USD
CY2017Q1	us-gaap	Minority Interest MinorityInterest	2563000	USD
CY2016Q4	us-gaap	Minority Interest MinorityInterest	2532000	USD
CY2017Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	687552000	USD
CY2016Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	685510000	USD
CY2017Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1158240000	USD
CY2016Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1141972000	USD
CY2017Q1	us-gaap	Senior Notes SeniorNotes	159198000	USD
CY2016Q4	us-gaap	Senior Notes SeniorNotes	159176000	USD
CY2017Q1	us-gaap	Operating Leases Income Statement Minimum Lease Revenue OperatingLeasesIncomeStatementMinimumLeaseRevenue	24014000	USD
CY2017Q1	us-gaap	Other Income OtherIncome	-10000	USD
CY2017Q1	us-gaap	Revenues Revenues	26560000	USD
CY2017Q1	us-gaap	Real Estate Tax Expense RealEstateTaxExpense	1808000	USD
CY2017Q1	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	797000	USD
CY2017Q1	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	163000	USD
CY2017Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2603000	USD
CY2017Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	7025000	USD
CY2017Q1	us-gaap	Costs And Expenses CostsAndExpenses	12396000	USD
CY2017Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	14164000	USD
CY2017Q1	us-gaap	Interest Expense InterestExpense	4138000	USD
CY2017Q1	us-gaap	Profit Loss ProfitLoss	14768000	USD
CY2017Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	193000	USD
CY2017Q1	us-gaap	Net Income Loss NetIncomeLoss	14575000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	741000	USD
CY2017Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	15509000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest	203000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Parent OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent	15306000	USD
CY2017Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	25953097	shares
CY2017Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	26009120	shares
CY2016Q1	us-gaap	Operating Leases Income Statement Minimum Lease Revenue OperatingLeasesIncomeStatementMinimumLeaseRevenue	18491000	USD
CY2016Q1	us-gaap	Percentage Rent PercentageRent	183000	USD
CY2016Q1	us-gaap	Tenant Reimbursements TenantReimbursements	1589000	USD
CY2016Q1	us-gaap	Other Income OtherIncome	-39000	USD
CY2016Q1	us-gaap	Revenues Revenues	20224000	USD
CY2016Q1	us-gaap	Real Estate Tax Expense RealEstateTaxExpense	1123000	USD
CY2016Q1	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	573000	USD
CY2016Q1	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	163000	USD
CY2016Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2045000	USD
CY2016Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	5085000	USD
CY2016Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	11235000	USD
CY2016Q1	us-gaap	Profit Loss ProfitLoss	7586000	USD
CY2016Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	4651000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest	77000	USD
CY2016Q1	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Parent OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent	4574000	USD
CY2016Q1	us-gaap	Gains Losses On Sales Of Assets GainsLossesOnSalesOfAssets	0	USD
CY2017Q1	us-gaap	Depreciation Depreciation	4510000	USD
CY2016Q1	us-gaap	Depreciation Depreciation	3378000	USD
CY2017Q1	us-gaap	Adjustment For Amortization AdjustmentForAmortization	2515000	USD
CY2016Q1	us-gaap	Adjustment For Amortization AdjustmentForAmortization	1707000	USD
CY2017Q1	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	4742000	USD
CY2016Q1	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	0	USD
CY2017Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1608000	USD
CY2016Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	389000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	440000	USD
CY2016Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-262000	USD
CY2017Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-590000	USD
CY2016Q1	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	2202000	USD
CY2017Q1	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-173000	USD
CY2016Q1	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-116000	USD
CY2017Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	461000	USD
CY2016Q1	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	1015000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	15571000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	16533000	USD
CY2017Q1	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	53680000	USD
CY2016Q1	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	33486000	USD
CY2017Q1	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	2937000	USD
CY2016Q1	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	6203000	USD
CY2017Q1	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	10182000	USD
CY2016Q1	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	0	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-46824000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-39728000	USD
CY2017Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	150000	USD
CY2016Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	1992000	USD
CY2017Q1	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	39000000	USD
CY2016Q1	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	42000000	USD
CY2017Q1	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	24000000	USD
CY2016Q1	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	0	USD
CY2017Q1	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	590000	USD
CY2016Q1	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	9300000	USD
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CY2017Q1	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	172000	USD
CY2016Q1	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	162000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	158000	USD
CY2016Q1	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	24194000	USD
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CY2016Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	999000	USD
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CY2017Q1	us-gaap	Stock Issued1 StockIssued1	3648000	USD
CY2016Q1	us-gaap	Stock Issued1 StockIssued1	3059000	USD
CY2017Q1	us-gaap	Increase Decrease In Security Deposits IncreaseDecreaseInSecurityDeposits	0	USD
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CY2016Q1	us-gaap	Payments For Leasing Costs PaymentsForLeasingCosts	39000	USD
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CY2016Q1	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	37000	USD
CY2017Q1	us-gaap	Share Based Compensation ShareBasedCompensation	629000	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	708000	USD
CY2017Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	241000	USD
CY2017Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	9979000	USD
CY2016Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	170000	USD
CY2017Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	1095000	USD
CY2016Q1	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	703000	USD
CY2017Q1	us-gaap	Repayments Of Unsecured Debt RepaymentsOfUnsecuredDebt	179000	USD
CY2016Q1	us-gaap	Repayments Of Unsecured Debt RepaymentsOfUnsecuredDebt	0	USD
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CY2017Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	150000	USD
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CY2017Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	0	USD
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CY2017Q1	us-gaap	Cash Fdic Insured Amount CashFDICInsuredAmount	1600000	USD
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CY2017Q1	us-gaap	Reimbursement Revenue ReimbursementRevenue	600000	USD
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CY2016Q1	us-gaap	Amortization Of Deferred Charges AmortizationOfDeferredCharges	1760000	USD
CY2017Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	8033000	USD
CY2017Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	10423000	USD
CY2017Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	9723000	USD
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CY2017Q1	us-gaap	Weighted Average Number Of Shares Restricted Stock WeightedAverageNumberOfSharesRestrictedStock	229897	shares
CY2016Q1	us-gaap	Weighted Average Number Of Shares Restricted Stock WeightedAverageNumberOfSharesRestrictedStock	228077	shares
CY2017Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	56023	shares
CY2016Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	41411	shares
CY2016Q4	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	366	pure
CY2017Q1	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	1065954000	USD
CY2016Q4	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	1019957000	USD
CY2017Q1	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	377	pure
CY2017Q1	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	3000000	USD
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CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	232403000	USD
CY2017Q1	us-gaap	Long Term Debt LongTermDebt	418281000	USD
CY2017Q1	us-gaap	Interest And Debt Expense InterestAndDebtExpense	1000000	USD
CY2017Q1	us-gaap	Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet	741000	USD
CY2016Q1	us-gaap	Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet	-2935000	USD
CY2017Q1	us-gaap	Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet	-464000	USD
CY2016Q1	us-gaap	Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet	-524000	USD
CY2017Q1	us-gaap	Derivative Net Liability Position Aggregate Fair Value DerivativeNetLiabilityPositionAggregateFairValue	1200000	USD
CY2017Q1	us-gaap	Assets Needed For Immediate Settlement Aggregate Fair Value AssetsNeededForImmediateSettlementAggregateFairValue	1200000	USD
CY2017Q1	us-gaap	Derivative Fair Value Of Derivative Asset DerivativeFairValueOfDerivativeAsset	1561000	USD
CY2017Q1	us-gaap	Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral	0	USD
CY2017Q1	us-gaap	Derivative Assets DerivativeAssets	1561000	USD
CY2017Q1	us-gaap	Derivative Asset Not Subject To Master Netting Arrangement DerivativeAssetNotSubjectToMasterNettingArrangement	89000	USD
CY2017Q1	us-gaap	Derivative Asset Collateral Obligation To Return Cash Offset DerivativeAssetCollateralObligationToReturnCashOffset	0	USD
CY2017Q1	us-gaap	Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	1472000	USD
CY2017Q1	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	1404000	USD
CY2017Q1	us-gaap	Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral	0	USD
CY2017Q1	us-gaap	Derivative Liabilities DerivativeLiabilities	1404000	USD
CY2017Q1	us-gaap	Derivative Liability Not Subject To Master Netting Arrangement DerivativeLiabilityNotSubjectToMasterNettingArrangement	89000	USD
CY2017Q1	us-gaap	Derivative Collateral Right To Reclaim Cash DerivativeCollateralRightToReclaimCash	0	USD
CY2016Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	50000	USD
CY2017Q1	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	50000	USD
CY2017Q1	us-gaap	Accumulated Amortization Deferred Finance Costs AccumulatedAmortizationDeferredFinanceCosts	127000	USD
CY2016Q4	us-gaap	Accumulated Amortization Deferred Finance Costs AccumulatedAmortizationDeferredFinanceCosts	1262000	USD
CY2017Q1	us-gaap	Deferred Costs Leasing Accumulated Amortization DeferredCostsLeasingAccumulatedAmortization	717000	USD
CY2016Q4	us-gaap	Deferred Costs Leasing Accumulated Amortization DeferredCostsLeasingAccumulatedAmortization	677000	USD
CY2017Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	29103000	USD
CY2016Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	25666000	USD
CY2017Q1	us-gaap	Below Market Lease Accumulated Amortization BelowMarketLeaseAccumulatedAmortization	8087000	USD
CY2017Q1	us-gaap	Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	1315000	USD
CY2016Q4	us-gaap	Derivative Fair Value Of Derivative Asset DerivativeFairValueOfDerivativeAsset	1409000	USD
CY2016Q4	us-gaap	Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral	0	USD
CY2016Q4	us-gaap	Derivative Assets DerivativeAssets	1409000	USD
CY2016Q4	us-gaap	Derivative Asset Not Subject To Master Netting Arrangement DerivativeAssetNotSubjectToMasterNettingArrangement	50000	USD
CY2016Q4	us-gaap	Derivative Asset Collateral Obligation To Return Cash Offset DerivativeAssetCollateralObligationToReturnCashOffset	0	USD
CY2016Q4	us-gaap	Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	1359000	USD
CY2016Q4	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	1994000	USD
CY2016Q4	us-gaap	Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral	0	USD
CY2016Q4	us-gaap	Derivative Liabilities DerivativeLiabilities	1994000	USD
CY2016Q4	us-gaap	Derivative Liability Not Subject To Master Netting Arrangement DerivativeLiabilityNotSubjectToMasterNettingArrangement	50000	USD
CY2016Q4	us-gaap	Derivative Collateral Right To Reclaim Cash DerivativeCollateralRightToReclaimCash	0	USD
CY2016Q4	us-gaap	Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	1944000	USD
CY2017Q1	dei	Document Type DocumentType	10-Q
CY2017Q1	dei	Amendment Flag AmendmentFlag	false
CY2017Q1	dei	Document Period End Date DocumentPeriodEndDate	2017-03-31
CY2017Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
CY2017Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2017Q1	dei	Entity Registrant Name EntityRegistrantName	AGREE REALTY CORP
CY2017Q1	dei	Entity Central Index Key EntityCentralIndexKey	0000917251
CY2017Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2017Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2017Q1	dei	Trading Symbol TradingSymbol	ADC
CY2017Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	26219680	shares
CY2017Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	983883000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	943497000	USD
CY2017Q1	us-gaap	Below Market Lease Net BelowMarketLeaseNet	30702000	USD
CY2016Q4	us-gaap	Below Market Lease Net BelowMarketLeaseNet	30047000	USD
CY2016Q4	us-gaap	Below Market Lease Accumulated Amortization BelowMarketLeaseAccumulatedAmortization	7078000	USD
CY2016Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2017Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2016Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	45000000	shares
CY2017Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	45000000	shares
CY2017Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	26219680	shares
CY2017Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	26219680	shares
CY2016Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	26164977	shares
CY2016Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	26164977	shares
CY2016Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	4000000	shares
CY2017Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	4000000	shares
CY2016Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2017Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2017Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.56
CY2016Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.36
CY2017Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.56
CY2016Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.36
CY2017Q1	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><i><u><font style="FONT-SIZE: 10pt"> Reclassification</font></u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="FONT-WEIGHT: normal"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Certain reclassifications of prior period amounts have been made in the consolidated financial statements and footnotes in order to conform to the current presentation. Prepaid rents are presented on the Balance Sheet as Deferred Revenue; in previously filed reports prepaid rents were presented in Accounts Payable - Operating. The classification of below-market lease intangibles are presented net of accumulated amortization as a Liability; in previously filed reports below-market lease intangibles were presented in Unamortized Deferred Expenses: Lease Intangibles net from in-place and above-market lease</font> intangibles.</font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q4	us-gaap	Deferred Rent Receivables Net DeferredRentReceivablesNet	9600000	USD
CY2017Q1	us-gaap	Deferred Rent Receivables Net DeferredRentReceivablesNet	10300000	USD
CY2017Q1	us-gaap	Land Subject To Ground Leases LandSubjectToGroundLeases	7326	acre
CY2016Q4	us-gaap	Land Subject To Ground Leases LandSubjectToGroundLeases	7033	acre
CY2016Q4	adc	Derivative Liability Variable Rate Debt Fair Value DerivativeLiabilityVariableRateDebtFairValue	14000000	USD
CY2017Q1	us-gaap	Proceeds From Sale Of Real Estate ProceedsFromSaleOfRealEstate	10200000	USD
CY2017Q1	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	4700000	USD
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	2378000	USD
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	28337000	USD
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	21298000	USD
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	38867000	USD
CY2017Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	94998000	USD
CY2017Q1	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	67000	USD
CY2016Q1	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	7000	USD
CY2017Q1	adc	Derivative Liability Fixed Rate Debt Carrying Value DerivativeLiabilityFixedRateDebtCarryingValue	386300000	USD
CY2016Q4	adc	Derivative Liability Fixed Rate Debt Carrying Value DerivativeLiabilityFixedRateDebtCarryingValue	386900000	USD
CY2017Q1	adc	Derivative Liability Fixed Rate Debt Fair Value DerivativeLiabilityFixedRateDebtFairValue	400300000	USD
CY2016Q4	adc	Derivative Liability Fixed Rate Debt Fair Value DerivativeLiabilityFixedRateDebtFairValue	401400000	USD
CY2017Q1	adc	Derivative Liability Variable Rate Debt Fair Value DerivativeLiabilityVariableRateDebtFairValue	29000000	USD

Files In Submission

Name	View Source	Status
0001144204-17-021724-index-headers.html	Edgar Link	pending
0001144204-17-021724-index.html	Edgar Link	pending
0001144204-17-021724.txt	Edgar Link	pending
0001144204-17-021724-xbrl.zip	Edgar Link	pending
adc-20170331.xml	Edgar Link	completed
adc-20170331.xsd	Edgar Link	pending
adc-20170331_cal.xml	Edgar Link	unprocessable
adc-20170331_def.xml	Edgar Link	unprocessable
adc-20170331_lab.xml	Edgar Link	unprocessable
adc-20170331_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending
v464429_10q.htm	Edgar Link	pending
v464429_ex31-1.htm	Edgar Link	pending
v464429_ex31-2.htm	Edgar Link	pending
v464429_ex32-1.htm	Edgar Link	pending
v464429_ex32-2.htm	Edgar Link	pending

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$ADC
AGREE REALTY CORP Stock $adc

2017 Q1 Form 10-Q Financial Statement

#000114420417021724 Filed on April 24, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ADC AGREE REALTY CORP Stock $adc

2017 Q1 Form 10-Q Financial Statement

#000114420417021724 Filed on April 24, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ADC
AGREE REALTY CORP Stock $adc