v3.25.2
Summary of Significant Accounting Policies - Earnings per Share (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Earnings Per Share Basic And Diluted [Line Items]        
Net income attributable to Agree Realty Corporation $ 49,198 $ 54,724 $ 96,194 $ 99,583
Less: Series A preferred stock dividends (1,859) (1,859) (3,718) (3,718)
Net income attributable to common stockholders 47,339 52,865 92,476 95,865
Less: Income attributable to unvested restricted shares (110) (145) (222) (265)
Net income used in basic and diluted earnings per share $ 47,229 $ 52,720 $ 92,254 $ 95,600
Weighted average number of common shares outstanding 110,014,003 100,625,877 108,674,968 100,595,525
Less: Unvested restricted shares (255,957) (275,934) (255,957) (275,934)
Weighted average number of common shares outstanding used in basic earnings per share 109,758,046 100,349,943 108,419,011 100,319,591
Effect of dilutive securities:        
Share-based compensation 179,867 89,582 176,280 88,285
Weighted average number of common shares outstanding used in diluted earnings per share 110,377,221 100,454,703 108,996,422 100,415,466
Operating Partnership Units ("OP Units") 347,619 347,619 347,619 347,619
Weighted average number of common shares and OP Units outstanding used in diluted earnings per share 110,724,840 100,802,322 109,344,041 100,763,085
ATM Forward Equity Offerings        
Effect of dilutive securities:        
Forward equity offering 256,296 15,178 286,480 7,590
October 2024 Forward Equity Offering        
Effect of dilutive securities:        
Forward equity offering 178,556   112,423  
April 2025 Forward Equity Offering        
Effect of dilutive securities:        
Forward equity offering 4,456   2,228