Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2013-12-31 | 2013-09-30 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-12-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-12-31 | 2009-06-30 | 2008-12-31 | 2008-09-30 | 2008-06-30 | 2008-03-31 | 2007-12-31 | 2007-09-30 | 2007-06-30 | 2007-03-31 | 2006-12-31 | 2006-09-30 | 2006-06-30 | 2006-03-31 | 2005-12-31 | 2005-09-30 | 2005-06-30 | 2005-03-31 | 2004-12-31 | 2004-09-30 | 2004-06-30 | 2004-03-31 | 2003-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
rental income | 183,191,000 | 175,397,000 | 169,113,000 | 154,292,000 | 152,424,000 | 149,422,000 | 136,774,000 | 129,876,000 | 126,609,000 | 110,031,000 | 104,793,000 | 98,312,000 | 87,469,000 | 82,494,000 | 77,760,000 | 63,701,000 | 57,476,000 | 55,783,000 | 52,039,000 | 48,020,000 | 44,875,000 | 42,345,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
other | 31,000 | 130,000 | 47,000 | 40,000 | 151,000 | 31,000 | 38,000 | 24,000 | 9,000 | 34,000 | 83,000 | 30,000 | 68,000 | 52,000 | 69,000 | 109,000 | 59,000 | 26,000 | 97,000 | 55,000 | 45,000 | 3,000 | 65,000 | 30,000 | 92,000 | 46,000 | |||||||||||||||||||||||||||||||||||||||||||||||
total revenues | 183,222,000 | 175,527,000 | 169,160,000 | 154,332,000 | 152,575,000 | 149,453,000 | 136,812,000 | 129,900,000 | 126,618,000 | 110,065,000 | 104,876,000 | 98,342,000 | 87,537,000 | 82,546,000 | 77,829,000 | 63,810,000 | 57,535,000 | 55,809,000 | 52,136,000 | 48,075,000 | 44,920,000 | 42,348,000 | 40,702,000 | 37,306,000 | 35,711,000 | 34,569,000 | 31,528,000 | 30,387,000 | 28,080,000 | 26,560,000 | 25,298,000 | 24,161,000 | 21,843,820 | 20,223,858 | 19,153,547 | 17,849,812 | 17,219,451 | 15,743,056 | 14,322,604 | 13,757,425 | 12,903,755 | 10,775,826 | 11,586,693 | 8,810,074 | 8,759,070 | 10,245,640 | 9,108,756 | 8,871,503 | 9,060,712 | 8,789,101 | 8,449,704 | 8,377,526 | 8,463,492 | 8,113,960 | 16,841,018 | 8,272,498 | 8,353,798 | 24,553,828 | 16,439,868 | 7,824,334 | 8,328,110 | 23,250,787 | 16,089,335 | 7,188,226 | 7,935,259 | 21,993,531 | 14,503,654 | 6,693,450 | |||||
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operating expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
real estate taxes | 13,173,000 | 12,833,000 | 11,513,000 | 11,935,000 | 10,721,000 | 10,701,000 | 10,124,000 | 9,874,000 | 9,432,000 | 8,526,000 | 7,979,000 | 7,611,000 | 6,957,000 | 6,158,000 | 5,696,000 | 5,516,000 | 4,840,000 | 4,702,000 | 4,504,000 | 3,674,000 | 3,720,000 | 3,622,000 | 2,896,000 | 2,824,000 | 2,624,000 | 2,377,000 | 2,216,000 | 2,149,000 | 2,031,000 | 1,808,000 | 1,424,000 | 1,473,000 | 1,438,089 | 1,122,664 | 1,662,789 | 715,685 | 863,357 | 762,923 | 555,283 | 773,647 | 739,743 | 350,664 | 660,053 | 455,382 | 507,303 | 614,379 | 472,083 | 488,520 | 478,941 | 450,864 | 467,714 | 467,147 | 457,361 | 449,823 | 924,508 | 440,276 | 469,384 | 1,351,988 | 902,165 | 440,428 | 433,205 | 1,315,800 | 930,913 | 452,311 | 425,224 | 1,381,100 | 927,659 | 467,585 | |||||
property operating expenses | 8,243,000 | 8,416,000 | 8,381,000 | 6,015,000 | 6,487,000 | 7,373,000 | 5,518,000 | 5,821,000 | 6,782,000 | 4,557,000 | 4,541,000 | 4,477,000 | 3,189,000 | 3,214,000 | 3,541,000 | 2,108,000 | 1,860,000 | 2,335,000 | 1,917,000 | 1,598,000 | 1,496,000 | 1,739,000 | 1,739,000 | 1,246,000 | 1,238,000 | 1,516,000 | 969,000 | 931,000 | 915,000 | 797,000 | 815,000 | 169,000 | 928,388 | 573,026 | 356,953 | 424,296 | 415,707 | 571,390 | 384,334 | 337,811 | 458,294 | 207,130 | 326,037 | 396,900 | 330,036 | 421,208 | 410,088 | 332,468 | 457,787 | 359,268 | 380,541 | 436,162 | 510,447 | 389,237 | 946,609 | 547,128 | 319,683 | 1,317,509 | 928,272 | 620,784 | 577,229 | 1,434,459 | 1,164,991 | 685,000 | 474,952 | 1,505,311 | 1,099,085 | 604,832 | |||||
land lease expense | 556,000 | 550,000 | 485,000 | 421,000 | 415,000 | 415,000 | 411,000 | 410,000 | 430,000 | 404,000 | 407,000 | 402,000 | 400,000 | 389,000 | 346,000 | 325,000 | 325,000 | 328,000 | 320,000 | 354,000 | 372,000 | 195,000 | 134,000 | 172,000 | 176,000 | 163,000 | |||||||||||||||||||||||||||||||||||||||||||||||
general and administrative | 10,887,000 | 11,332,000 | 10,771,000 | 9,114,000 | 9,707,000 | 9,515,000 | 8,844,000 | 8,420,000 | 8,821,000 | 6,992,000 | 7,651,000 | 7,622,000 | 5,687,000 | 6,241,000 | 6,879,000 | 4,756,000 | 4,587,000 | 4,658,000 | 3,820,000 | 3,832,000 | 3,880,000 | 4,035,000 | 3,171,000 | 2,947,000 | 3,185,000 | 2,862,000 | 2,284,000 | 2,491,000 | 2,569,000 | 2,603,000 | 1,908,000 | 2,020,000 | 2,042,089 | 2,045,026 | 1,807,548 | 1,768,895 | 1,744,026 | 1,667,600 | 1,672,136 | 1,748,209 | 1,616,906 | 1,283,942 | 1,587,617 | 1,150,538 | 1,202,030 | 1,441,946 | 1,083,163 | 998,428 | 1,251,290 | 1,130,155 | 965,942 | 975,399 | 996,263 | 1,005,902 | 1,971,662 | 1,050,957 | 940,103 | 3,078,733 | 2,072,831 | 919,771 | 1,526,072 | 2,665,207 | 1,753,692 | 632,947 | 865,173 | 1,983,241 | 1,296,420 | 556,597 | |||||
depreciation and amortization | 61,179,000 | 58,939,000 | 55,755,000 | 51,504,000 | 50,454,000 | 48,463,000 | 45,625,000 | 42,750,000 | 40,646,000 | 35,157,000 | 31,950,000 | 28,561,000 | 24,488,000 | 23,188,000 | 21,489,000 | 17,327,000 | 15,607,000 | 14,132,000 | 13,106,000 | 11,897,000 | 10,836,000 | 9,864,000 | 11,955,000 | 11,180,000 | 10,559,000 | 10,004,000 | 8,796,000 | 8,228,000 | 7,704,000 | 7,025,000 | 6,506,000 | 6,151,000 | 5,664,701 | 5,085,250 | 3,289,210 | 5,525,901 | 4,117,182 | 3,553,581 | 3,142,890 | 2,855,066 | 2,591,157 | 2,070,897 | 2,176,179 | 1,437,439 | 1,408,639 | 1,627,814 | 1,392,621 | 1,385,017 | 1,394,498 | 1,347,452 | 1,259,462 | 1,262,463 | 1,234,186 | 1,212,660 | 2,496,649 | 1,202,313 | 1,232,848 | 3,618,495 | 2,405,835 | 1,138,939 | 1,175,896 | 3,461,429 | 2,387,969 | 1,068,944 | 1,189,378 | 3,247,656 | 2,169,995 | 1,006,219 | |||||
benefit from impairment | 2,980,000 | 2,961,000 | 4,331,000 | 2,694,000 | 4,530,000 | 3,195,000 | 1,315,000 | 1,015,000 | 2,868,000 | 1,128,000 | 1,193,000 | 416,000 | 3,970,000 | -488,000 | -1,163,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total operating expenses | 97,018,000 | 95,031,000 | 91,236,000 | 81,683,000 | 77,784,000 | 80,997,000 | 73,717,000 | 68,590,000 | 66,111,000 | 55,636,000 | 52,528,000 | 49,688,000 | 40,721,000 | 39,190,000 | 37,951,000 | 32,900,000 | 28,347,000 | 26,155,000 | 23,667,000 | 21,355,000 | 21,497,000 | 19,871,000 | 22,214,000 | 18,369,000 | 17,782,000 | 16,922,000 | 14,428,000 | 13,962,000 | 13,382,000 | 12,396,000 | 10,816,000 | 9,976,000 | 10,236,542 | 8,989,242 | 7,279,776 | 8,608,490 | 7,277,554 | 6,687,357 | 5,886,606 | 6,060,060 | 8,313,375 | 3,569,608 | 5,306,861 | 3,537,084 | 3,544,833 | 4,332,508 | 3,572,755 | 3,419,233 | 3,797,316 | 3,458,789 | 3,242,209 | 3,309,721 | 3,368,307 | 3,253,087 | 6,678,028 | 3,436,139 | 3,135,454 | 9,953,120 | 6,700,033 | 3,315,387 | 3,910,034 | 9,463,290 | 6,628,495 | 3,019,442 | 3,151,467 | 8,658,028 | 5,862,639 | 2,819,973 | |||||
gain on sale of assets | 924,000 | 1,510,000 | 772,000 | 1,850,000 | 7,156,000 | 2,096,000 | -20,000 | 319,000 | 3,000,000 | 17,000 | 2,310,000 | 3,470,000 | 6,767,000 | 2,945,000 | 970,000 | 4,952,000 | 1,645,000 | 4,333,000 | 2,597,000 | 2,949,000 | 3,427,000 | 231,000 | 3,917,000 | 2,434,000 | 4,598,000 | 4,148,000 | 524,000 | 4,780,000 | 4,742,000 | 2,831,000 | 4,415,000 | 2,717,903 | 465 | 8,599,261 | 3,456,206 | 79,104 | |||||||||||||||||||||||||||||||||||||
gain on involuntary conversion | 132,000 | 20,000 | -115,000 | -25,000 | -25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from operations | 87,260,000 | 82,006,000 | 78,696,000 | 74,443,000 | 81,967,000 | 70,497,000 | 63,075,000 | 61,629,000 | 60,507,000 | 57,314,000 | 52,340,000 | 50,939,000 | 50,286,000 | 43,356,000 | 39,878,000 | 30,910,000 | 29,188,000 | 29,654,000 | 28,469,000 | 26,720,000 | 23,423,000 | 22,477,000 | 18,488,000 | 18,937,000 | 17,929,000 | 17,647,000 | 17,100,000 | 16,425,000 | 14,698,000 | 14,164,000 | 14,482,000 | 14,185,000 | 11,607,278 | 11,234,616 | 11,873,771 | 9,241,322 | 9,941,897 | 9,055,699 | 8,435,998 | 7,697,365 | 4,590,380 | 7,206,218 | 6,279,832 | 5,272,990 | 5,214,237 | 5,913,132 | 5,536,001 | 5,452,270 | 5,263,396 | 5,330,312 | 5,207,495 | 5,067,805 | 5,095,185 | 4,860,873 | 10,162,990 | ||||||||||||||||||
yoy | 6.46% | 16.33% | 24.77% | 20.79% | 35.47% | 23.00% | 20.51% | 20.99% | 20.33% | 32.19% | 31.25% | 64.80% | 72.28% | 46.21% | 40.08% | 15.68% | 24.61% | 31.93% | 53.99% | 41.10% | 30.64% | 27.37% | 8.12% | 15.29% | 21.98% | 24.59% | 18.08% | 15.79% | 26.63% | 26.07% | 21.97% | 53.50% | 16.75% | 24.06% | 40.75% | 20.06% | 116.58% | 25.67% | 34.33% | 45.98% | -11.96% | 21.87% | -4.75% | -4.37% | 12.34% | 3.86% | 1.07% | 4.61% | 7.13% | -50.13% | |||||||||||||||||||||||
qoq | 6.41% | 4.21% | 5.71% | -9.18% | 16.27% | 11.77% | 2.35% | 1.85% | 5.57% | 9.50% | 2.75% | 1.30% | 15.98% | 8.72% | 29.01% | 5.90% | -1.57% | 4.16% | 6.55% | 14.08% | 4.21% | 21.58% | -2.37% | 5.62% | 1.60% | 3.20% | 4.11% | 11.75% | 3.77% | -2.20% | 2.09% | 22.21% | 3.32% | -5.38% | 28.49% | -7.05% | 9.79% | 7.35% | 9.60% | 67.68% | -36.30% | 14.75% | 19.09% | 1.13% | -11.82% | 1.54% | 3.59% | 2.76% | -0.54% | -52.17% | |||||||||||||||||||||||
operating margin % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other income | 456,000 | 46,000 | 41,000 | 104,000 | 366,000 | 117,000 | 94,000 | 43,000 | 48,000 | 132,000 | -14,000 | 23,000 | 53,000 | 45,000 | -94,000 | 48,000 | 271,000 | 39,000 | -10,000 | 50,000 | 30,000 | -8,715 | -39,582 | 115,233 | 105,703 | 8,326 | 1,209 | 3,120 | 114,462 | 24,334 | 17,449 | 1,553 | 28,093 | 16,832 | 22,490 | 7,703 | 8,772 | 3,761 | 1,657 | 24 | 6,518 | 6,103 | 8,545 | 12,621 | 14,359 | 6,912 | 37,026 | 28,481 | 23,779 | 17,636 | 16,635 | 1,579 | 460 | 32,256 | 1,842 | 1,726 | |||||||||||||||||
interest expense | -35,212,000 | -32,274,000 | -30,764,000 | -28,942,000 | -26,416,000 | -24,451,000 | -20,803,000 | -19,948,000 | -17,998,000 | -17,149,000 | -15,512,000 | -13,931,000 | -13,066,000 | -12,549,000 | -11,653,000 | -10,158,000 | -8,479,000 | -9,669,000 | -9,731,000 | -8,352,000 | -7,455,000 | -7,558,000 | -6,907,000 | -6,538,000 | -5,961,000 | -5,465,000 | -4,924,000 | -4,666,000 | -4,411,000 | -4,138,000 | -4,107,000 | -4,091,000 | -3,496,855 | -3,648,291 | -3,947,054 | -2,964,319 | -2,933,269 | -2,460,755 | -2,478,904 | -2,439,105 | -1,874,510 | -1,875,471 | -1,634,051 | -1,097,823 | -1,124,128 | -1,304,889 | -1,145,605 | -1,160,791 | -1,125,624 | -1,238,977 | -1,280,051 | -1,151,331 | -1,176,639 | -1,156,949 | -2,327,970 | -1,153,567 | -1,175,607 | -3,449,164 | -2,292,215 | -1,054,338 | -1,102,127 | -3,056,760 | -2,027,884 | -1,103,723 | -1,167,755 | -3,338,957 | -2,262,515 | -1,584,105 | |||||
income and other tax expense | -225,000 | -425,000 | -825,000 | -1,077,000 | -1,004,000 | -1,149,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 52,279,000 | 49,353,000 | 47,148,000 | 44,528,000 | 54,913,000 | 45,014,000 | 41,657,000 | 41,015,000 | 41,774,000 | 39,577,000 | 36,130,000 | 36,289,000 | 36,830,000 | 22,461,000 | 30,278,000 | 21,416,000 | 25,424,000 | 21,370,000 | 22,743,000 | 20,781,000 | 18,722,000 | 18,516,000 | 13,338,000 | 15,756,000 | 13,068,000 | 16,636,000 | 16,671,000 | 12,283,000 | 15,067,000 | 14,768,000 | 12,906,000 | 14,476,000 | 10,828,326 | 7,586,325 | 7,927,182 | 14,876,264 | 10,464,834 | 6,494,181 | 5,722,003 | 4,965,608 | 2,715,870 | 5,622,075 | 4,645,781 | 4,540,568 | 4,431,459 | 4,700,059 | 4,606,607 | 4,507,690 | 4,317,065 | 4,091,335 | 3,613,244 | 3,603,152 | 3,605,059 | 3,406,127 | 7,208,211 | 3,386,694 | 3,719,212 | 10,254,956 | 6,848,829 | 3,301,891 | 5,773,089 | 10,274,487 | 6,820,461 | 2,895,716 | 3,275,046 | 9,847,974 | 5,952,625 | 2,243,990 | |||||
yoy | -4.80% | 9.64% | 13.18% | 8.57% | 31.45% | 13.74% | 15.30% | 13.02% | 13.42% | 76.20% | 19.33% | 69.45% | 44.86% | 5.11% | 33.13% | 3.06% | 35.80% | 15.41% | 70.51% | 31.89% | 43.27% | 11.30% | -19.99% | 28.27% | -13.27% | 12.65% | 29.17% | -15.15% | 39.14% | 94.67% | 62.81% | -2.69% | 3.47% | 16.82% | 38.54% | 199.59% | 285.32% | 15.51% | 23.17% | 9.36% | -38.71% | 19.62% | -1.43% | -1.69% | 8.87% | 12.59% | 19.48% | 13.49% | 6.08% | -50.01% | 6.45% | -66.79% | 5.25% | 2.57% | -35.58% | -0.19% | 0.42% | 14.03% | 76.28% | 4.33% | 14.58% | 29.04% | |||||||||||
qoq | 5.93% | 4.68% | 5.88% | -18.91% | 21.99% | 8.06% | 1.57% | -1.82% | 5.55% | 9.54% | -0.44% | -1.47% | 63.97% | -25.82% | 41.38% | -15.76% | 18.97% | -6.04% | 9.44% | 11.00% | 1.11% | 38.82% | -15.35% | 20.57% | -21.45% | -0.21% | 35.72% | -18.48% | 2.02% | 14.43% | -10.85% | 33.69% | 42.73% | -4.30% | -46.71% | 42.15% | 61.14% | 13.49% | 15.23% | 82.84% | -51.69% | 21.01% | 2.32% | 2.46% | -5.71% | 2.19% | 4.42% | 0.28% | -0.05% | -52.75% | 112.84% | -8.94% | -63.73% | 49.73% | 107.42% | -42.81% | -43.81% | 50.64% | 135.54% | -11.58% | -66.74% | 65.44% | 165.27% | ||||||||||
net income margin % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less net income attributable to non-controlling interest | 162,000 | 155,000 | 152,000 | 153,000 | 189,000 | 155,000 | 135,000 | 147,000 | 160,000 | 152,000 | 157,000 | 176,000 | 167,000 | 114,000 | 166,000 | 136,000 | 166,000 | 141,000 | 184,000 | 170,000 | 158,000 | 169,000 | 127,000 | 170,000 | 145,000 | 185,000 | 177,000 | 118,000 | 191,000 | 193,000 | 173,000 | 213,000 | 166,996 | 125,492 | 136,746 | 280,801 | 201,237 | 125,816 | 125,441 | 112,763 | -148,960 | -140,061 | -160,243 | -189,412 | -268,113 | -306,419 | -324,877 | ||||||||||||||||||||||||||
net income attributable to agree realty corporation | 52,117,000 | 49,198,000 | 46,996,000 | 44,375,000 | 54,724,000 | 44,859,000 | 41,522,000 | 40,868,000 | 41,614,000 | 39,425,000 | 35,973,000 | 36,113,000 | 22,347,000 | 30,112,000 | 21,280,000 | 25,258,000 | 21,229,000 | 22,559,000 | 20,611,000 | 18,564,000 | 18,347,000 | 13,211,000 | 15,586,000 | 12,923,000 | 16,451,000 | 16,494,000 | 12,165,000 | 14,876,000 | 14,575,000 | 12,733,000 | 14,263,000 | 10,661,330 | 7,460,833 | 7,790,436 | 14,595,463 | 10,263,597 | 6,368,365 | 5,596,562 | 4,852,845 | 5,485,730 | 4,528,162 | 4,391,608 | 4,291,398 | 4,539,816 | 4,417,195 | 4,239,577 | 4,010,646 | 3,766,458 | |||||||||||||||||||||||||
less series a preferred stock dividends | 1,859,000 | 1,859,000 | 1,859,000 | 1,859,000 | 1,859,000 | 1,859,000 | 1,859,000 | 1,859,000 | 1,859,000 | 1,859,000 | 1,859,000 | 1,859,000 | 289,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income attributable to common stockholders | 50,258,000 | 47,339,000 | 45,137,000 | 42,516,000 | 52,865,000 | 43,000,000 | 39,663,000 | 39,009,000 | 39,755,000 | 37,566,000 | 34,114,000 | 34,254,000 | 36,374,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income per share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 0.45 | 0.43 | 0.42 | 0.42 | 0.53 | 0.43 | 0.41 | 0.42 | 0.44 | 0.47 | 0.45 | 0.48 | 0.52 | 0.34 | 0.48 | 0.39 | 0.47 | 0.47 | 0.53 | 0.49 | 0.45 | 0.49 | 0.37 | 0.49 | 0.42 | 0.53 | 0.56 | 0.42 | 0.56 | 0.56 | 0.368 | 0.61 | 0.48 | 0.37 | |||||||||||||||||||||||||||||||||||||||
diluted | 0.45 | 0.43 | 0.42 | 0.42 | 0.52 | 0.43 | 0.41 | 0.42 | 0.44 | 0.46 | 0.45 | 0.48 | 0.52 | 0.34 | 0.48 | 0.39 | 0.47 | 0.46 | 0.52 | 0.48 | 0.45 | 0.48 | 0.36 | 0.48 | 0.41 | 0.53 | 0.56 | 0.42 | 0.56 | 0.56 | 0.365 | 0.61 | 0.48 | 0.36 | |||||||||||||||||||||||||||||||||||||||
other comprehensive income | 5,854 | 1,378 | -1,677,250 | 1,835,586 | -2,538,187 | 1,621,177 | -2,000,725 | 727,135 | -850,216 | 800,321 | -549,979 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of interest rate swaps | -1,077 | -880 | -736 | -739 | -675 | -629 | -631 | -630 | -629 | -273 | 82 | 82 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in fair value and settlement of interest rate swaps | 713 | 3,435 | -10,031 | -11,760 | 4,172 | 11,543 | 8,324 | 3,341 | -7,181 | 16,481 | 20,581 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total comprehensive income | 51,915 | 51,908 | 36,381 | 32,029 | 58,410 | 55,928 | 49,350 | 43,726 | 41,145 | 32,123 | 52,693 | 56,952 | 40,212 | 24,978 | 55,924 | 22,836 | 23,163 | -11,672 | 28,571 | 13,363 | 14,928 | 15,111 | 10,226 | 16,210 | 13,860 | 18,556 | 18,073 | 12,486 | 14,656 | 15,509 | 18,760 | 15,854 | 9,151,076 | 4,650,649 | 9,762,768 | 12,338,077 | 12,086,011 | 4,482,353 | 3,721,278 | 5,692,743 | 1,865,654 | 6,422,396 | 4,095,802 | ||||||||||||||||||||||||||||||
less comprehensive income attributable to non-controlling interest | 161 | 163 | 117 | 110 | 201 | 193 | 162 | 157 | 158 | 121 | 233 | 276 | 185 | 128 | 304 | 152 | 151 | -109 | 244 | 109 | 125 | 138 | 97 | 174 | 154 | 206 | |||||||||||||||||||||||||||||||||||||||||||||||
comprehensive income attributable to agree realty corporation | 51,754 | 51,745 | 36,264 | 31,919 | 58,209 | 55,735 | 49,188 | 43,569 | 40,987 | 32,002 | 52,460 | 56,676 | 40,027 | 24,850 | 55,620 | 22,684 | 23,012 | -11,563 | 28,327 | 13,254 | 14,803 | 14,973 | 10,129 | 16,036 | 13,706 | 18,350 | 10,535.75 | 12,337 | 14,467 | 15,306 | 18,513 | 15,625 | 9,011,275 | 4,573,718 | 9,590,755 | 12,107,004 | 11,853,984 | 4,395,521 | 3,634,396 | 5,563,474 | 6,265,563 | 3,992,262 | |||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding - basic | 111,277,316 | 109,758,046 | 107,048,557 | 100,383,207 | 100,349,943 | 100,284,588 | 97,255,143 | 93,053,870 | 90,028,255 | 79,701,136 | 75,037,920 | 71,228,930 | 69,102,500 | 64,835,984 | 62,828,897 | 53,721,956 | 52,726,230 | 45,436,191 | 40,577,346 | 41,832,457 | 40,612,372 | 37,487,851 | 22,185,525 | 20,438,729 | 18,008,592 | 17,539,358 | 17,369,832 | 14,882,586 | 14,713,740 | 14,714,357 | 12,983,774 | 4,479,345 | |||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding - diluted | 111,511,615 | 110,377,221 | 107,547,193 | 101,715,311 | 100,454,703 | 100,336,600 | 97,349,473 | 93,134,385 | 90,548,172 | 80,589,446 | 75,570,089 | 71,336,103 | 69,591,848 | 65,185,604 | 62,940,360 | 54,555,672 | 53,266,740 | 45,565,054 | 41,223,614 | 42,318,042 | 41,141,659 | 38,320,307 | |||||||||||||||||||||||||||||||||||||||||||||||||||
loss on involuntary conversion | -56,000 | -55,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income tax benefit | -709,000 | -709,000 | -783,000 | -720,000 | -698,000 | -719,000 | -485,000 | -1,009,000 | -306,000 | -260,000 | -260,000 | 170,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on early extinguishment of term loans and settlement of related interest rate swaps | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on early extinguishment of term loans and settlement of related interest rate swaps | -14,614,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
realized gain on settlement of interest rate swaps | 287 | 500 | -17 | -17 | -14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive income - change in fair value and settlement of interest rate swaps | 3,300 | 2,230 | 25,146 | 1,420 | -3,794 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on involuntary conversion of assets | 117,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in fair value of interest rate swaps | -2,244 | -33,025 | 5,842 | -7,418 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income tax expense | -328,000 | -184,000 | -195,000 | -125,000 | -125,000 | -216,000 | -50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive income - change in fair value of interest rate swaps | -3,405 | -3,112 | 454 | 792 | 1,920 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
minimum rents | 36,320,000 | 33,622,000 | 32,129,000 | 30,743,000 | 28,574,000 | 27,325,000 | 25,160,000 | 24,014,000 | 23,349,000 | 22,279,000 | 19,911,907 | 18,491,035 | 17,016,109 | 16,735,634 | 15,972,170 | 14,554,011 | 13,461,551 | 12,628,111 | 11,790,632 | 10,313,454 | 10,683,883 | 8,137,049 | 7,950,230 | 9,056,361 | 8,344,991 | 8,179,987 | 8,331,333 | 8,133,119 | 7,754,457 | 7,642,554 | 7,687,360 | 7,452,909 | 15,329,914 | 7,532,443 | 7,547,781 | 22,415,582 | 14,962,673 | 7,052,209 | 7,290,046 | 21,096,534 | 14,468,716 | 6,316,111 | 7,025,186 | 19,752,838 | 12,921,273 | 5,931,180 | |||||||||||||||||||||||||||
percentage rents | 45,000 | 216,000 | 32,000 | 212,000 | 7,000 | 6,509 | 183,345 | -8,681 | 37,920 | 141,017 | 9,811 | 12,788 | 4,695 | 142,181 | 16,013 | 7,843 | 12,534 | 16,057 | 782 | 6,995 | 13,778 | 2,347 | 13,679 | 13,606 | 16,026 | 14,071 | 12,659 | 40,891 | 27,285 | 18,704 | 28,772 | 39,299 | 30,524 | 24,761 | 34,340 | 28,691 | 40,872 | 41,409 | |||||||||||||||||||||||||||||||||||
operating cost reimbursement | 4,272,000 | 3,654,000 | 3,490,000 | 3,564,000 | 2,736,000 | 2,791,000 | 2,881,000 | 2,344,000 | 1,899,000 | 1,845,000 | 1,934,119 | 1,589,060 | 2,030,886 | 970,555 | 1,097,938 | 1,178,025 | 845,145 | 1,010,157 | 946,608 | 428,910 | 901,257 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding - basic: | 32,070,255 | 31,758,925 | 30,821,185 | 30,801,471 | 27,625,102 | 28,573,022 | 26,389,703 | 25,953,097 | 22,868,736 | 23,454,083 | 18,003,122 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding - diluted: | 32,401,122 | 32,287,352 | 31,222,221 | 30,851,058 | 27,700,347 | 28,656,684 | 26,457,340 | 26,009,120 | 22,959,799 | 23,563,331 | 22,265,139 | 20,480,140 | 18,065,415 | 18,064,318 | 17,587,052 | 17,416,359 | 14,966,895 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
land lease payments | 122,500 | 163,000 | 163,000 | 163,000 | 163,000 | 163,000 | 163,275 | 163,276 | 163,276 | 173,713 | 137,282 | 131,863 | 131,963 | 125,327 | 107,275 | 106,975 | 106,975 | 96,825 | 96,825 | 227,161 | 214,800 | 214,800 | 214,800 | 171,050 | 168,550 | 168,550 | 170,050 | 195,465 | 338,600 | 195,465 | 173,436 | 586,395 | 390,930 | 195,465 | 197,632 | 586,395 | 390,930 | 180,240 | 196,740 | 540,720 | 369,480 | 184,740 | |||||||||||||||||||||||||||||||
loss on debt extinguishment | -300,000 | -33,000 | -179,867 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive income - gain on interest rate swaps | 1,402 | 203 | -411 | 741 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
comprehensive income attributable to non-controlling interest | -127.25 | -149 | -189 | -203 | -247 | -229 | -139,801 | -76,931 | -172,013 | -231,073 | -232,027 | -86,832 | -86,882 | -129,269 | -156,833 | -103,540 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive loss | -2,935,676 | -2,011,828 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment charge | 220,000 | 2,800,000 | 112,500 | 450,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from continuing operations | 7,927,182 | 14,876,264 | 10,464,834 | 6,494,181 | 5,722,003 | 4,965,608 | 2,715,870 | 5,330,747 | 4,645,781 | 4,836,359 | 5,218,344 | 14,600,708 | 9,739,835 | 4,508,947 | 4,418,076 | 13,787,497 | 9,460,840 | 4,168,784 | 4,783,792 | 13,335,503 | 8,641,015 | 3,873,477 | |||||||||||||||||||||||||||||||||||||||||||||||||||
discontinued operations | 0.03 | 0.02 | 0.36 | 0.06 | 0.005 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of assets from discontinued operations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations | 1,753.5 | 365,401 | 344,702 | 91,816 | 216,211 | 216,211 | 179,293 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic earnings per share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
continuing operations | 0.4 | 0.81 | 0.59 | 0.37 | 0.36 | 0.33 | 0.18 | 0.38 | 0.35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
diluted earnings per share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on sale of assets | -235,091 | -292,652 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total discontinued operations | 34,330 | 238,340.25 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding - dilutive | 14,782,051 | 14,775,596 | 13,063,187 | 4,479,345 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less net income attributable to | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-controlling interest | 61,642 | 94,672.75 | 117,619 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income attributable to | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
agree realty corporation | 2,654,228 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
comprehensive income attributable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
to non-controlling interest | -42,342 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
comprehensive income attributable to | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating cost reimbursements | 590,089 | 640,579 | 739,313 | 597,632 | 681,962 | 718,623 | 654,325 | 681,445 | 726,107 | 756,350 | 638,900 | 1,482,457 | 711,625 | 515,082.25 | 2,060,329 | 1,421,429 | 753,421 | 524,329.5 | 2,097,318 | 1,573,460 | 845,775 | 544,936.5 | 2,179,746 | 1,539,667 | 719,135 | ||||||||||||||||||||||||||||||||||||||||||||||||
development fee income | 47,000 | 138,895 | 411,419 | 158,430 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on extinguishment of debt | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income before discontinued operations | 4,175,167 | 4,090,109 | 4,608,243 | 4,390,396 | 4,291,479 | 4,137,772 | 3,719,212 | 10,254,956 | 6,848,829 | 3,164,076 | 3,049,263 | 9,858,490 | 6,820,461 | 2,863,834 | 3,275,046 | 9,250,259 | 5,952,625 | 2,093,452 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of asset from discontinued operations | -3,352 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share – basic | 0.46 | 0.46 | 0.47 | 0.55 | 0.54 | 0.52 | 0.49 | 0.94 | 0.45 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share – dilutive | 0.46 | 0.46 | 0.47 | 0.55 | 0.54 | 0.52 | 0.49 | 0.94 | 0.45 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividend declared per share | 0.51 | 0.51 | 0.4 | 0.51 | 0.5 | 0.5 | 0.5 | 0.49 | 0.49 | 0.49 | 0.49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding – basic | 9,580,928 | 9,317,829 | 9,619,228 | 8,040,461 | 7,879,183 | 7,774,640 | 7,676,258 | 7,643,026 | 7,605,496 | 7,559,973 | 6,466,971 | 6,467,310 | 6,466,971 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding – dilutive | 9,618,240 | 9,349,696 | 9,648,462 | 8,063,717 | 7,894,349 | 7,781,740 | 7,683,039 | 7,692,133 | 7,652,469 | 7,560,318 | 6,473,919 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income before minority interest | 3,927,444 | 3,916,474 | 3,918,546 | 3,703,924 | 7,835,020 | 3,682,792 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
minority interest | -314,200 | -313,322 | -313,487 | -297,797 | -626,809 | -296,098 | 2,116,701 | -896,588 | 598,791 | -290,533 | 2,023,974 | -878,644 | 612,495 | 298,178 | 2,267,239 | -963,124 | 619,778 | 314,751 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share — basic | 0.47 | 0.47 | 0.47 | 0.45 | 0.338 | 1.35 | 0.9 | 0.45 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share — dilutive | 0.47 | 0.47 | 0.47 | 0.44 | 0.335 | 1.34 | 0.89 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding — basic | 7,643,708 | 7,643,026 | 7,643,026 | 7,607,808 | 7,603,837 | 7,605,496 | 7,331,526 | 7,503,744 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of common shares outstanding — dilutive | 7,692,118 | 7,691,475 | 7,685,616 | 7,672,549 | 7,666,366 | 7,660,300 | 7,333,083 | 7,504,333 | 6,473,740 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income before minority interest and discontinued operations | 4,042,737 | 11,151,544 | 7,447,620 | 3,454,609 | 3,315,949 | 10,737,134 | 7,432,956 | 3,162,012 | 3,616,037 | 10,213,383 | 6,572,403 | 2,408,203 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations, net of minority interest of 37,060 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash dividends declared per common share | 0.368 | 1.47 | 0.98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations, net of minority interest of 24,943 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations, net of minority interest of 12,655 in 2005 | 137,815 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted earnings per share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share — diluted | 0.45 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of asset | 6,397 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity in net income of unconsolidated entities | 96,951 | 216,837 | 193,903 | 118,831 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total other income | -1,102,127 | -3,050,363 | -2,027,884 | -1,006,772 | -1,167,755 | -3,122,120 | -2,068,612 | -1,465,274 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of asset from discontinued operations net of minority interest of 54,427 | 130,685.25 | 522,741 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations, net of minority interest of 37,060 and 41,718 | 103,999.25 | 415,997 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share | 0.34 | 1.36 | 0.91 | 0.45 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations, net of minority interest of 6,638 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations, net of minority interest of 3,319 | 31,882 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
weight average number of common shares outstanding — dilutive | 6,475,222 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
early extinguishment of debt | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations, net of minority interest of 7,805 and 71,336 | 18,743.5 | 74,974 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share – basic and dilutive | 0.38 | 1.52 | 0.92 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations, net of minority interest of 40,609 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from discontinued operations, net of minority interest of 22,634 | 150,538 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share - basic and dilutive | 0.5 |
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