$ADC
AGREE REALTY CORP Stock $adc

$adc Overview Financials Valuation SEC Filings Company Website

2018 Q4 Form 10-Q Financial Statement

#000114420418054726 Filed on October 22, 2018

Income Statement

Concept	2018 Q4	2018 Q3	2017 Q4
Revenue	$37.45M	$34.05M	$33.38M
YoY Change	12.2%	12.07%	31.92%
Cost Of Revenue	$4.890M	$3.800M	$3.190M
YoY Change	53.29%	23.38%	42.41%
Gross Profit	$32.78M	$30.25M	$23.31M
YoY Change	40.63%	10.77%	1.08%
Gross Profit Margin	87.53%	88.83%	69.84%
Selling, General & Admin	$2.900M	$3.120M	$2.290M
YoY Change	26.64%	19.08%	19.27%
% of Gross Profit	8.85%	10.31%	9.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$12.00M	$11.10M	$8.800M
YoY Change	36.36%	33.73%	35.38%
% of Gross Profit	36.61%	36.69%	37.75%
Operating Expenses	$11.97M	$11.26M	$5.990M
YoY Change	99.83%	3.78%	-28.86%
Operating Profit	$20.81M	$18.50M	$17.32M
YoY Change	20.15%	12.39%	18.31%
Interest Expense	-$6.910M	$6.538M	-$4.920M
YoY Change	40.45%	40.12%	19.71%
% of Operating Profit	-33.21%	35.34%	-28.41%
Other Income/Expense, Net		$53.00K
YoY Change
Pretax Income	$13.46M	$15.88M	$16.53M
YoY Change	-18.57%	28.9%	26.57%
Income Tax	$130.0K	$125.0K	$90.00K
% Of Pretax Income	0.97%	0.79%	0.54%
Net Earnings	$13.21M	$15.59M	$16.67M
YoY Change	-20.75%	28.12%	29.18%
Net Earnings / Revenue	35.28%	45.77%	49.95%
Basic Earnings Per Share	$0.37	$0.49
Diluted Earnings Per Share	$0.36	$0.48	$0.55
COMMON SHARES
Basic Shares Outstanding	34.48M shares	31.76M
Diluted Shares Outstanding		32.29M

Balance Sheet

Concept	2018 Q4	2018 Q3	2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$54.00M	$16.80M	$50.80M
YoY Change	6.3%	-34.12%	52.1%
Cash & Equivalents	$53.96M	$16.81M	$50.81M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory		$1.400M	$2.400M
Prepaid Expenses
Receivables	$21.50M	$19.90M	$15.50M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$75.50M	$38.10M	$68.70M
YoY Change	9.9%	-23.95%	53.01%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.661B	$1.417B	$1.189B
YoY Change	39.77%	27.57%	25.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$3.800M	$5.300M	$10.70M
YoY Change	-64.49%	12.77%	282.14%
Total Long-Term Assets	$1.953B	$1.711B	$1.426B
YoY Change	36.94%	29.89%	29.97%
TOTAL ASSETS
Total Short-Term Assets	$75.50M	$38.10M	$68.70M
Total Long-Term Assets	$1.953B	$1.711B	$1.426B
Total Assets	$2.028B	$1.749B	$1.495B
YoY Change	35.7%	27.92%	30.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$9.900M	$12.10M	$400.0K
YoY Change	2375.0%	12000.0%	-42.86%
Accrued Expenses	$4.800M	$2.700M	$3.400M
YoY Change	41.18%	-3.57%	54.55%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$35.90M	$33.70M	$20.20M
YoY Change	77.72%	88.27%	-0.49%
LONG-TERM LIABILITIES
Long-Term Debt	$720.4M	$617.4M	$519.6M
YoY Change	38.65%	27.33%	29.61%
Other Long-Term Liabilities	$33.00M	$28.70M	$32.40M
YoY Change	1.85%	-13.81%	-4.42%
Total Long-Term Liabilities	$753.4M	$646.1M	$552.0M
YoY Change	36.49%	24.68%	26.95%
TOTAL LIABILITIES
Total Short-Term Liabilities	$35.90M	$33.70M	$20.20M
Total Long-Term Liabilities	$753.4M	$646.1M	$552.0M
Total Liabilities	$789.7M	$680.3M	$583.4M
YoY Change	35.35%	24.43%	27.82%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock	$4.000K	$3.000K	$3.000K
YoY Change	33.33%		0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$1.236B	$1.066B	$908.7M
YoY Change
Total Liabilities & Shareholders Equity	$2.028B	$1.749B	$1.495B
YoY Change	35.7%	27.92%	30.88%

Cashflow Statement

Concept	2018 Q4	2018 Q3	2017 Q4
OPERATING ACTIVITIES
Net Income	$13.21M	$15.59M	$16.67M
YoY Change	-20.75%	28.12%	29.18%
Depreciation, Depletion And Amortization	$12.00M	$11.10M	$8.800M
YoY Change	36.36%	33.73%	35.38%
Cash From Operating Activities	$28.90M	$27.30M	$27.00M
YoY Change	7.04%	33.17%	69.81%
INVESTING ACTIVITIES
Capital Expenditures	-$263.1M	-$161.1M	-$94.50M
YoY Change	178.41%	130.14%	35.58%
Acquisitions
YoY Change
Other Investing Activities	$5.700M	$28.40M	$14.90M
YoY Change	-61.74%	278.67%	-21.58%
Cash From Investing Activities	-$257.5M	-$132.5M	-$79.60M
YoY Change	223.49%	112.0%	57.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	264.3M	114.6M	84.10M
YoY Change	214.27%	76.04%	48.59%
NET CHANGE
Cash From Operating Activities	28.90M	27.30M	27.00M
Cash From Investing Activities	-257.5M	-132.5M	-79.60M
Cash From Financing Activities	264.3M	114.6M	84.10M
Net Change In Cash	35.70M	9.400M	31.50M
YoY Change	13.33%	-59.31%	43.84%
FREE CASH FLOW
Cash From Operating Activities	$28.90M	$27.30M	$27.00M
Capital Expenditures	-$263.1M	-$161.1M	-$94.50M
Free Cash Flow	$292.0M	$188.4M	$121.5M
YoY Change	140.33%	108.18%	41.94%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2018Q3	us-gaap	Land Land	473446000	USD
CY2017Q4	us-gaap	Land Land	405457000	USD
CY2017Q4	us-gaap	Other Assets OtherAssets	4432000	USD
CY2018Q3	us-gaap	Investment Building And Building Improvements InvestmentBuildingAndBuildingImprovements	1041666000	USD
CY2017Q4	us-gaap	Investment Building And Building Improvements InvestmentBuildingAndBuildingImprovements	868396000	USD
CY2018Q3	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	98051000	USD
CY2017Q4	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	85239000	USD
CY2018Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1417061000	USD
CY2017Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1188614000	USD
CY2018Q3	us-gaap	Development In Process DevelopmentInProcess	7767000	USD
CY2017Q4	us-gaap	Development In Process DevelopmentInProcess	25402000	USD
CY2018Q3	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	1424828000	USD
CY2017Q4	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	1214016000	USD
CY2018Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	16811000	USD
CY2017Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	50807000	USD
CY2018Q3	us-gaap	Escrow Deposit EscrowDeposit	1436000	USD
CY2017Q4	us-gaap	Escrow Deposit EscrowDeposit	7975000	USD
CY2018Q3	us-gaap	Accounts Receivable Net AccountsReceivableNet	19882000	USD
CY2017Q4	us-gaap	Accounts Receivable Net AccountsReceivableNet	15477000	USD
CY2018Q3	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	1267000	USD
CY2017Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	1174000	USD
CY2018Q3	us-gaap	Deferred Costs Leasing Net DeferredCostsLeasingNet	2582000	USD
CY2017Q4	us-gaap	Deferred Costs Leasing Net DeferredCostsLeasingNet	1583000	USD
CY2018Q3	us-gaap	Finite Lived Intangible Asset Acquired In Place Leases FiniteLivedIntangibleAssetAcquiredInPlaceLeases	270606000	USD
CY2017Q4	us-gaap	Finite Lived Intangible Asset Acquired In Place Leases FiniteLivedIntangibleAssetAcquiredInPlaceLeases	195158000	USD
CY2018Q3	us-gaap	Other Assets OtherAssets	5339000	USD
CY2018Q3	us-gaap	Assets Assets	1748634000	USD
CY2017Q4	us-gaap	Assets Assets	1494634000	USD
CY2018Q3	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	7100000	USD
	adc	Fair Value Inputs Forfeiture Rate FairValueInputsForfeitureRate	0	pure
CY2018Q3	us-gaap	Secured Debt SecuredDebt	61537000	USD
CY2017Q4	us-gaap	Secured Debt SecuredDebt	88270000	USD
CY2018Q3	us-gaap	Unsecured Debt UnsecuredDebt	157760000	USD
CY2017Q4	us-gaap	Unsecured Debt UnsecuredDebt	158171000	USD
CY2018Q3	us-gaap	Senior Notes SeniorNotes	384073000	USD
CY2017Q4	us-gaap	Senior Notes SeniorNotes	259122000	USD
CY2018Q3	us-gaap	Line Of Credit LineOfCredit	14000000	USD
CY2017Q4	us-gaap	Line Of Credit LineOfCredit	14000000	USD
CY2018Q3	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	18808000	USD
CY2017Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	16303000	USD
CY2018Q3	us-gaap	Deferred Revenue DeferredRevenue	1079000	USD
CY2017Q4	us-gaap	Deferred Revenue DeferredRevenue	1837000	USD
CY2018Q3	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	2706000	USD
CY2017Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	3412000	USD
CY2018Q3	us-gaap	Below Market Lease Net BelowMarketLeaseNet	27628000	USD
CY2017Q4	us-gaap	Below Market Lease Net BelowMarketLeaseNet	30350000	USD
CY2018Q3	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	475000	USD
CY2017Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	475000	USD
CY2018Q3	us-gaap	Security Deposit Liability SecurityDepositLiability	102000	USD
CY2017Q4	us-gaap	Security Deposit Liability SecurityDepositLiability	97000	USD
CY2018Q3	us-gaap	Liabilities Liabilities	680256000	USD
CY2017Q4	us-gaap	Liabilities Liabilities	583444000	USD
CY2018Q3	us-gaap	Common Stock Value CommonStockValue	3000	USD
CY2018Q3	us-gaap	Interest Rate Derivative Assets At Fair Value InterestRateDerivativeAssetsAtFairValue	4516000	USD
CY2018Q3	us-gaap	Interest Rate Derivative Liabilities At Fair Value InterestRateDerivativeLiabilitiesAtFairValue	0	USD
CY2017Q4	us-gaap	Interest Rate Derivative Assets At Fair Value InterestRateDerivativeAssetsAtFairValue	1592000	USD
CY2017Q4	us-gaap	Common Stock Value CommonStockValue	3000	USD
CY2018Q3	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2017Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2018Q3	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	1096679000	USD
CY2017Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	936046000	USD
CY2018Q3	us-gaap	Accumulated Distributions In Excess Of Net Income AccumulatedDistributionsInExcessOfNetIncome	35317000	USD
CY2017Q4	us-gaap	Accumulated Distributions In Excess Of Net Income AccumulatedDistributionsInExcessOfNetIncome	28763000	USD
CY2018Q3	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	4506000	USD
CY2017Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	1375000	USD
CY2018Q3	us-gaap	Stockholders Equity StockholdersEquity	1065871000	USD
CY2017Q4	us-gaap	Stockholders Equity StockholdersEquity	908661000	USD
CY2018Q3	us-gaap	Minority Interest MinorityInterest	2507000	USD
CY2017Q4	us-gaap	Minority Interest MinorityInterest	2529000	USD
CY2018Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1748634000	USD
CY2017Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1494634000	USD
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Description ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription	Equity compensation awarded February 23, 2018 for certain executive officers consisted of both performance shares and restricted stock. Performance shares are subject to a three-year performance period, at the conclusion of which, shares awarded are to be determined by the Company’s total shareholder return compared to the MSCI US REIT Index and a defined peer group. Vesting of the performance shares following their issuance will occur ratably over a three-year period, with the initial vesting occurring immediately following the conclusion of the performance period such that all shares vest within five years of the original award date of February 23, 2018. The grant date fair value of these awards is determined using a Monte Carlo simulation pricing model and compensation expense is amortized on a straight-line basis over a five-year period. Compensation expense related to performance shares is determined at the grant date and is not adjusted throughout the measurement or vesting periods. The Monte Carlo simulation pricing model utilizes assumptions including grant date, performance period, risk-free rate, grant date share price, dividend yield and annualized volatility.
CY2017Q4	us-gaap	Interest Rate Derivative Liabilities At Fair Value InterestRateDerivativeLiabilitiesAtFairValue	242000	USD
CY2018Q3	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	12088000	USD
CY2017Q4	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	11165000	USD
CY2018Q3	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	465000	USD
CY2017Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	296000	USD
CY2018Q3	adc	Derivative Liability Fixed Rate Debt Carrying Value DerivativeLiabilityFixedRateDebtCarryingValue	603400000	USD
CY2017Q4	adc	Derivative Liability Fixed Rate Debt Carrying Value DerivativeLiabilityFixedRateDebtCarryingValue	505600000	USD
CY2018Q3	adc	Derivative Liability Fixed Rate Debt Fair Value DerivativeLiabilityFixedRateDebtFairValue	594800000	USD
CY2017Q4	adc	Derivative Liability Fixed Rate Debt Fair Value DerivativeLiabilityFixedRateDebtFairValue	516500000	USD
CY2018Q3	adc	Derivative Liability Variable Rate Debt Fair Value DerivativeLiabilityVariableRateDebtFairValue	14000000	USD
CY2018Q3	us-gaap	Accumulated Amortization Deferred Finance Costs AccumulatedAmortizationDeferredFinanceCosts	744000	USD
CY2017Q4	us-gaap	Accumulated Amortization Deferred Finance Costs AccumulatedAmortizationDeferredFinanceCosts	433000	USD
CY2017Q4	adc	Derivative Liability Variable Rate Debt Fair Value DerivativeLiabilityVariableRateDebtFairValue	14000000	USD
CY2018Q3	us-gaap	Deferred Costs Leasing Accumulated Amortization DeferredCostsLeasingAccumulatedAmortization	823000	USD
CY2017Q4	us-gaap	Deferred Costs Leasing Accumulated Amortization DeferredCostsLeasingAccumulatedAmortization	814000	USD
CY2018Q3	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	57121000	USD
CY2017Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	41390000	USD
CY2018Q3	us-gaap	Below Market Lease Accumulated Amortization BelowMarketLeaseAccumulatedAmortization	14116000	USD
CY2017Q4	us-gaap	Below Market Lease Accumulated Amortization BelowMarketLeaseAccumulatedAmortization	11357000	USD
CY2018Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2017Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2018Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2017Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2018Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	45000000	shares
CY2018Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	4000000	shares
CY2017Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	45000000	shares
CY2017Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	4000000	shares
CY2018Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	34481545	shares
CY2017Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	31004900	shares
CY2018Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	34481545	shares
CY2017Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	31004900	shares
CY2018Q3	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	454000	USD
CY2018Q3	us-gaap	Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet	67000	USD
	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	3166000	USD
	us-gaap	Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet	-24000	USD
CY2018Q3	us-gaap	Operating Leases Income Statement Minimum Lease Revenue OperatingLeasesIncomeStatementMinimumLeaseRevenue	33622000	USD
CY2017Q3	us-gaap	Operating Leases Income Statement Minimum Lease Revenue OperatingLeasesIncomeStatementMinimumLeaseRevenue	27325000	USD
	us-gaap	Operating Leases Income Statement Minimum Lease Revenue OperatingLeasesIncomeStatementMinimumLeaseRevenue	96494000	USD
	us-gaap	Operating Leases Income Statement Minimum Lease Revenue OperatingLeasesIncomeStatementMinimumLeaseRevenue	76500000	USD
CY2018Q3	us-gaap	Percentage Rent PercentageRent	0	USD
CY2017Q3	us-gaap	Percentage Rent PercentageRent	0	USD
	us-gaap	Percentage Rent PercentageRent	216000	USD
	us-gaap	Percentage Rent PercentageRent	212000	USD
CY2018Q3	adc	Tenant Reimbursement TenantReimbursement	3654000	USD
CY2017Q3	adc	Tenant Reimbursement TenantReimbursement	2791000	USD
	adc	Tenant Reimbursement TenantReimbursement	10615000	USD
	adc	Tenant Reimbursement TenantReimbursement	8016000	USD
CY2018Q3	us-gaap	Other Income OtherIncome	30000	USD
CY2017Q3	us-gaap	Other Income OtherIncome	271000	USD
	us-gaap	Other Income OtherIncome	168000	USD
	us-gaap	Other Income OtherIncome	299000	USD
CY2018Q3	us-gaap	Revenues Revenues	37306000	USD
CY2017Q3	us-gaap	Revenues Revenues	30387000	USD
	us-gaap	Revenues Revenues	107493000	USD
	us-gaap	Revenues Revenues	85027000	USD
CY2018Q3	us-gaap	Real Estate Tax Expense RealEstateTaxExpense	2824000	USD
CY2017Q3	us-gaap	Real Estate Tax Expense RealEstateTaxExpense	2149000	USD
	us-gaap	Real Estate Tax Expense RealEstateTaxExpense	7825000	USD
	us-gaap	Real Estate Tax Expense RealEstateTaxExpense	5988000	USD
CY2018Q3	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	1246000	USD
CY2017Q3	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	931000	USD
	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	3906000	USD
	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	2641000	USD
CY2018Q3	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	172000	USD
CY2017Q3	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	163000	USD
	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	511000	USD
	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	490000	USD
CY2018Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2947000	USD
CY2017Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2454000	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	8994000	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	7299000	USD
CY2018Q3	us-gaap	Depreciation And Amortization DepreciationAndAmortization	11180000	USD
CY2017Q3	us-gaap	Depreciation And Amortization DepreciationAndAmortization	8228000	USD
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	31743000	USD
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	22956000	USD
CY2018Q3	us-gaap	Costs And Expenses CostsAndExpenses	18369000	USD
CY2017Q3	us-gaap	Costs And Expenses CostsAndExpenses	13925000	USD
	us-gaap	Costs And Expenses CostsAndExpenses	52979000	USD
	us-gaap	Costs And Expenses CostsAndExpenses	39374000	USD
CY2018Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	18937000	USD
CY2017Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	16462000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	54514000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	45653000	USD
CY2018Q3	us-gaap	Interest Expense InterestExpense	6538000	USD
CY2017Q3	us-gaap	Interest Expense InterestExpense	4666000	USD
	us-gaap	Interest Expense InterestExpense	17965000	USD
	us-gaap	Interest Expense InterestExpense	13213000	USD
CY2018Q3	us-gaap	Gains Losses On Sales Of Assets GainsLossesOnSalesOfAssets	3917000	USD
CY2017Q3	us-gaap	Gains Losses On Sales Of Assets GainsLossesOnSalesOfAssets	524000	USD
	us-gaap	Gains Losses On Sales Of Assets GainsLossesOnSalesOfAssets	10949000	USD
	us-gaap	Gains Losses On Sales Of Assets GainsLossesOnSalesOfAssets	10045000	USD
CY2018Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	125000	USD
CY2017Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	37000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	391000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	366000	USD
CY2018Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	53000	USD
CY2017Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	0	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	4000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	0	USD
CY2018Q3	us-gaap	Asset Impairment Charges AssetImpairmentCharges	488000	USD
CY2017Q3	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	USD
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	1651000	USD
CY2018Q3	us-gaap	Profit Loss ProfitLoss	15756000	USD
CY2017Q3	us-gaap	Profit Loss ProfitLoss	12283000	USD
CY2018Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	170000	USD
CY2017Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	118000	USD
	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	499000	USD
	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	501000	USD
CY2018Q3	us-gaap	Net Income Loss NetIncomeLoss	15586000	USD
CY2017Q3	us-gaap	Net Income Loss NetIncomeLoss	12165000	USD
	us-gaap	Net Income Loss NetIncomeLoss	44961000	USD
	us-gaap	Net Income Loss NetIncomeLoss	41618000	USD
CY2018Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.49
CY2017Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.42
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.43
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.53
CY2018Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.48
CY2017Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.42
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.42
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.52
CY2018Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	454000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	203000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	3166000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	533000	USD
CY2018Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	16210000	USD
CY2017Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	12486000	USD
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	48626000	USD
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	42652000	USD
CY2018Q3	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest	174000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest	149000	USD
	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest	534000	USD
	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest	509000	USD
CY2018Q3	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Parent OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent	16036000	USD
CY2017Q4	us-gaap	Derivative Collateral Right To Reclaim Cash DerivativeCollateralRightToReclaimCash	0	USD
CY2017Q4	us-gaap	Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	200000	USD
CY2017Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	911190000	USD
	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	159604000	USD
	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	1142000	USD
	us-gaap	Stock Issued During Period Value Restricted Stock Award Gross StockIssuedDuringPeriodValueRestrictedStockAwardGross	0	USD
	us-gaap	Stock Issued During Period Value Restricted Stock Award Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	0	USD
	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	2171000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Parent OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent	12337000	USD
	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Parent OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent	48092000	USD
	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Parent OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent	42143000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	203000	USD
CY2017Q3	us-gaap	Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet	-258000	USD
	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	330000	USD
	us-gaap	Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet	-1085000	USD
CY2018Q3	us-gaap	Derivative Fair Value Of Derivative Asset DerivativeFairValueOfDerivativeAsset	4516000	USD
CY2018Q3	us-gaap	Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral	0	USD
CY2018Q3	us-gaap	Derivative Assets DerivativeAssets	4516000	USD
CY2018Q3	us-gaap	Derivative Asset Not Subject To Master Netting Arrangement DerivativeAssetNotSubjectToMasterNettingArrangement	0	USD
CY2018Q3	us-gaap	Derivative Asset Collateral Obligation To Return Cash Offset DerivativeAssetCollateralObligationToReturnCashOffset	0	USD
CY2018Q3	us-gaap	Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	4516000	USD
CY2018Q3	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	0	USD
CY2018Q3	us-gaap	Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral	0	USD
CY2018Q3	us-gaap	Derivative Liabilities DerivativeLiabilities	0	USD
CY2018Q3	us-gaap	Derivative Liability Not Subject To Master Netting Arrangement DerivativeLiabilityNotSubjectToMasterNettingArrangement	0	USD
CY2018Q3	us-gaap	Derivative Collateral Right To Reclaim Cash DerivativeCollateralRightToReclaimCash	0	USD
CY2018Q3	us-gaap	Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	0	USD
CY2017Q4	us-gaap	Derivative Fair Value Of Derivative Asset DerivativeFairValueOfDerivativeAsset	1592000	USD
CY2017Q4	us-gaap	Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral	0	USD
CY2017Q4	us-gaap	Derivative Assets DerivativeAssets	1592000	USD
CY2017Q4	us-gaap	Derivative Asset Not Subject To Master Netting Arrangement DerivativeAssetNotSubjectToMasterNettingArrangement	42000	USD
CY2017Q4	us-gaap	Derivative Asset Collateral Obligation To Return Cash Offset DerivativeAssetCollateralObligationToReturnCashOffset	0	USD
CY2017Q4	us-gaap	Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection	1550000	USD
CY2017Q4	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	242000	USD
CY2017Q4	us-gaap	Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral	0	USD
CY2017Q4	us-gaap	Derivative Liabilities DerivativeLiabilities	242000	USD
CY2017Q4	us-gaap	Derivative Liability Not Subject To Master Netting Arrangement DerivativeLiabilityNotSubjectToMasterNettingArrangement	42000	USD
	us-gaap	Dividends Dividends	52071000	USD
	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	3166000	USD
CY2018Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1068378000	USD
	us-gaap	Profit Loss ProfitLoss	45460000	USD
	us-gaap	Profit Loss ProfitLoss	42119000	USD
	us-gaap	Depreciation Depreciation	17808000	USD
	us-gaap	Depreciation Depreciation	14366000	USD
	us-gaap	Adjustment For Amortization AdjustmentForAmortization	13935000	USD
	us-gaap	Adjustment For Amortization AdjustmentForAmortization	8590000	USD
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	768000	USD
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	730000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	2171000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	1748000	USD
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	1651000	USD
	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	USD
	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	29414000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-310628000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-239502000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	159604000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	136733000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	1142000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	1108000	USD
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	260000000	USD
	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	184000000	USD
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	260000000	USD
	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	198000000	USD
	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	26915000	USD
	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	1794000	USD
	us-gaap	Repayments Of Unsecured Debt RepaymentsOfUnsecuredDebt	571000	USD
	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	10949000	USD
	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	10045000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	5122000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	4192000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	934000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	148000	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	923000	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	1837000	USD
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-758000	USD
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-371000	USD
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	-706000	USD
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	549000	USD
	us-gaap	Increase Decrease In Security Deposits IncreaseDecreaseInSecurityDeposits	5000	USD
	us-gaap	Increase Decrease In Security Deposits IncreaseDecreaseInSecurityDeposits	2000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	64252000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	55185000	USD
	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	352085000	USD
	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	241132000	USD
	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	17390000	USD
	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	27240000	USD
	us-gaap	Payments For Leasing Costs PaymentsForLeasingCosts	1191000	USD
	us-gaap	Payments For Leasing Costs PaymentsForLeasingCosts	544000	USD
	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	60038000	USD
	us-gaap	Repayments Of Unsecured Debt RepaymentsOfUnsecuredDebt	549000	USD
	us-gaap	Proceeds From Unsecured Notes Payable ProceedsFromUnsecuredNotesPayable	125000000	USD
	us-gaap	Proceeds From Unsecured Notes Payable ProceedsFromUnsecuredNotesPayable	100000000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	49018000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	40392000	USD
	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	549000	USD
	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	520000	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	568000	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	159000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	205841000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	178211000	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-40535000	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-6106000	USD
	us-gaap	Interest Paid Net InterestPaidNet	18944000	USD
	us-gaap	Interest Paid Net InterestPaidNet	12658000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	387000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	0	USD
	us-gaap	Stock Issued1 StockIssued1	2381000	USD
	us-gaap	Stock Issued1 StockIssued1	3022000	USD
	us-gaap	Dividends Common Stock DividendsCommonStock	18808000	USD
	us-gaap	Dividends Common Stock DividendsCommonStock	14930000	USD
CY2013Q3	us-gaap	Description Of Interest Rate Cash Flow Hedge Activities DescriptionOfInterestRateCashFlowHedgeActivities	the Company receives from the counterparty interest on the notional amount based on 1 month LIBOR and pays to the counterparty a fixed rate of 2.20%.
CY2018Q3	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	381000	USD
CY2017Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	297000	USD
CY2018Q3	adc	Ownership Percentage On Controlling Interest By Parent OwnershipPercentageOnControllingInterestByParent	0.990	pure
CY2018Q3	us-gaap	Derivative Net Liability Position Aggregate Fair Value DerivativeNetLiabilityPositionAggregateFairValue	0	USD
	us-gaap	Interest And Debt Expense InterestAndDebtExpense	1000000	USD
	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;"><div style="font-style:italic;display:inline;">Use of Estimates</div></div></div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of (1) assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and (2) revenues and expenses during the reporting period. Actual results could differ from those estimates.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="font-family: "times new roman", times, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="text-decoration:underline;display:inline;"><div style="font-style:italic;display:inline;">Reclassification</div></div></div></div><div style="font-family: "times new roman", times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;">Certain reclassifications of prior period amounts have been made in the consolidated financial statements and footnotes in order to conform to the current presentation. Income tax expense is presented in Other (Expense) Income of the Consolidated Statement of Operations and Comprehensive Income. In reports filed prior to March 2018, income tax expense was included in general and administrative expenses of the Consolidated Statement of Operations and Comprehensive Income.</div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018Q3	adc	Real Estate Heldforsale Land RealEstateHeldforsaleLand	271000	USD
CY2017Q4	adc	Real Estate Heldforsale Land RealEstateHeldforsaleLand	393000	USD
CY2018Q3	adc	Real Estate Heldforsale Building RealEstateHeldforsaleBuilding	1087000	USD
CY2017Q4	adc	Real Estate Heldforsale Building RealEstateHeldforsaleBuilding	1857000	USD
CY2018Q3	adc	Real Estate Heldforsale Lease Intangibles RealEstateHeldforsaleLeaseIntangibles	290000	USD
CY2017Q4	adc	Real Estate Heldforsale Lease Intangibles RealEstateHeldforsaleLeaseIntangibles	557000	USD
CY2018Q3	adc	Real Estate Heldforsalegross RealEstateHeldforsalegross	1648000	USD
CY2017Q4	adc	Real Estate Heldforsalegross RealEstateHeldforsalegross	2807000	USD
CY2018Q3	adc	Real Estate Heldforsale Accumulated Depreciation RealEstateHeldforsaleAccumulatedDepreciation	-281000	USD
CY2017Q4	adc	Real Estate Heldforsale Accumulated Depreciation RealEstateHeldforsaleAccumulatedDepreciation	-387000	USD
CY2018Q3	us-gaap	Real Estate Heldforsale RealEstateHeldforsale	1367000	USD
CY2017Q4	us-gaap	Real Estate Heldforsale RealEstateHeldforsale	2420000	USD
CY2018Q3	us-gaap	Amortization Of Deferred Charges AmortizationOfDeferredCharges	5130000	USD
CY2017Q3	us-gaap	Amortization Of Deferred Charges AmortizationOfDeferredCharges	2907000	USD
	us-gaap	Amortization Of Deferred Charges AmortizationOfDeferredCharges	14114000	USD
	us-gaap	Amortization Of Deferred Charges AmortizationOfDeferredCharges	8466000	USD
CY2018Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	5897000	USD
CY2018Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	22184000	USD
CY2018Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	22057000	USD
CY2018Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	21143000	USD
CY2018Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	20928000	USD
CY2018Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense After Year Five FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive	154618000	USD
CY2018Q3	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	246827000	USD
CY2018Q3	us-gaap	Weighted Average Number Of Shares Issued Basic WeightedAverageNumberOfSharesIssuedBasic	31969749	shares
CY2015Q2	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	100000000	USD
CY2015Q2	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	50000000	USD
CY2016Q3	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	60000000	USD
	us-gaap	Debt Instrument Description Of Variable Rate Basis DebtInstrumentDescriptionOfVariableRateBasis	Borrowings under the unsecured 2024 Term Loan Facilities bear interest at a variable LIBOR plus 150 to 245 basis points, depending on the Company's credit rating.
CY2017Q3	us-gaap	Weighted Average Number Of Shares Issued Basic WeightedAverageNumberOfSharesIssuedBasic	28792158	shares
	us-gaap	Weighted Average Number Of Shares Issued Basic WeightedAverageNumberOfSharesIssuedBasic	31342354	shares
	us-gaap	Weighted Average Number Of Shares Issued Basic WeightedAverageNumberOfSharesIssuedBasic	27207725	shares
CY2018Q3	us-gaap	Weighted Average Number Of Shares Restricted Stock WeightedAverageNumberOfSharesRestrictedStock	210824	shares
CY2017Q3	us-gaap	Weighted Average Number Of Shares Restricted Stock WeightedAverageNumberOfSharesRestrictedStock	219136	shares
	us-gaap	Weighted Average Number Of Shares Restricted Stock WeightedAverageNumberOfSharesRestrictedStock	210824	shares
	us-gaap	Weighted Average Number Of Shares Restricted Stock WeightedAverageNumberOfSharesRestrictedStock	219136	shares
CY2018Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	31758925	shares
CY2017Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	28573022	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	26988589	shares
CY2018Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	80211	shares
CY2017Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	83662	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	71855	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	80763	shares
CY2018Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	32287352	shares
CY2017Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	28656684	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	31471251	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	27069352	shares
CY2018Q3	us-gaap	Weighted Average General Partnership Units Outstanding WeightedAverageGeneralPartnershipUnitsOutstanding	347619	shares
CY2017Q3	us-gaap	Weighted Average General Partnership Units Outstanding WeightedAverageGeneralPartnershipUnitsOutstanding	347619	shares
	us-gaap	Weighted Average General Partnership Units Outstanding WeightedAverageGeneralPartnershipUnitsOutstanding	347619	shares
	us-gaap	Weighted Average General Partnership Units Outstanding WeightedAverageGeneralPartnershipUnitsOutstanding	347619	shares
CY2018Q3	adc	Weighted Average Number Of Common Shares And Op Units Outstanding WeightedAverageNumberOfCommonSharesAndOpUnitsOutstanding	32634971	shares
CY2017Q3	adc	Weighted Average Number Of Common Shares And Op Units Outstanding WeightedAverageNumberOfCommonSharesAndOpUnitsOutstanding	29004303	shares
	adc	Weighted Average Number Of Common Shares And Op Units Outstanding WeightedAverageNumberOfCommonSharesAndOpUnitsOutstanding	31818870	shares
	adc	Weighted Average Number Of Common Shares And Op Units Outstanding WeightedAverageNumberOfCommonSharesAndOpUnitsOutstanding	27416971	shares
CY2017Q2	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	108000000	USD
CY2018Q3	adc	Cash In Excess Of Fdic Insured Amounts CashInExcessOfFdicInsuredAmounts	17300000	USD
CY2017Q4	adc	Cash In Excess Of Fdic Insured Amounts CashInExcessOfFdicInsuredAmounts	57500000	USD
	adc	Reimbursements Revenue ReimbursementsRevenue	2500000	USD
CY2017	adc	Reimbursements Revenue ReimbursementsRevenue	1400000	USD
CY2018Q3	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	520	pure
CY2018Q3	us-gaap	Deferred Rent Receivables Net DeferredRentReceivablesNet	15500000	USD
CY2017Q4	us-gaap	Deferred Rent Receivables Net DeferredRentReceivablesNet	12900000	USD
CY2018Q3	us-gaap	Land Subject To Ground Leases LandSubjectToGroundLeases	10.0	sqft
CY2017Q4	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	436	pure
CY2017Q4	us-gaap	Land Subject To Ground Leases LandSubjectToGroundLeases	8.7	sqft
CY2018Q3	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	448217	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	267867	shares
CY2018Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	850000	USD
CY2018Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	42795000	USD
CY2018Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	3867000	USD
CY2018Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	14998000	USD
CY2018Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	1060000	USD
CY2018Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	556343000	USD
CY2018Q3	us-gaap	Long Term Debt LongTermDebt	619913000	USD
CY2018Q3	us-gaap	Property Subject To Or Available For Operating Lease Gross PropertySubjectToOrAvailableForOperatingLeaseGross	59600000	USD
CY2018Q3	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	3900000	USD
	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	9900000	USD
CY2018Q3	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	500000	USD
	us-gaap	Impairment Of Long Lived Assets Held For Use ImpairmentOfLongLivedAssetsHeldForUse	1700000	USD
CY2018Q3	us-gaap	Real Estate Investments RealEstateInvestments	107900000	USD
CY2016Q3	us-gaap	Debt Instrument Description Of Variable Rate Basis DebtInstrumentDescriptionOfVariableRateBasis	Borrowings under the revolving credit facility bear interest at LIBOR plus 85 to 155 basis points, depending on the Company’s credit rating. Additionally, the Company is required to pay a facility fee at an annual rate of 0 to 55 basis points of the total amount of the revolving credit facility, depending on the Company’s credit rating.
CY2017Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	58782000	USD
CY2016Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	33395000	USD
CY2018Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	18247000	USD
CY2017Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	27289000	USD
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	31131530	shares
	dei	Document Type DocumentType	10-Q
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Period End Date DocumentPeriodEndDate	2018-09-30
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2018
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Entity Registrant Name EntityRegistrantName	AGREE REALTY CORP
	dei	Entity Central Index Key EntityCentralIndexKey	0000917251
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Trading Symbol TradingSymbol	ADC
CY2018Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	34481545	shares
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Small Business EntitySmallBusiness	false

Files In Submission

Name	View Source	Status
0001144204-18-054726-index-headers.html	Edgar Link	pending
0001144204-18-054726-index.html	Edgar Link	pending
0001144204-18-054726.txt	Edgar Link	pending
0001144204-18-054726-xbrl.zip	Edgar Link	pending
adc-20180930.xml	Edgar Link	completed
adc-20180930.xsd	Edgar Link	pending
adc-20180930_cal.xml	Edgar Link	unprocessable
adc-20180930_def.xml	Edgar Link	unprocessable
adc-20180930_lab.xml	Edgar Link	unprocessable
adc-20180930_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending
tv504887_10q.htm	Edgar Link	pending
tv504887_ex10-3.htm	Edgar Link	pending
tv504887_ex10-4.htm	Edgar Link	pending
tv504887_ex31-1.htm	Edgar Link	pending
tv504887_ex31-2.htm	Edgar Link	pending
tv504887_ex32-1.htm	Edgar Link	pending
tv504887_ex32-2.htm	Edgar Link	pending
tv504887_ex4-1.htm	Edgar Link	pending
tv504887_ex4-2.htm	Edgar Link	pending

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$ADC
AGREE REALTY CORP Stock $adc

2018 Q4 Form 10-Q Financial Statement

#000114420418054726 Filed on October 22, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ADC AGREE REALTY CORP Stock $adc

2018 Q4 Form 10-Q Financial Statement

#000114420418054726 Filed on October 22, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ADC
AGREE REALTY CORP Stock $adc