Getty Realty

Getty Realty Corp. operates as a real estate investment trust. It engages in the acquisition, owning, selling, and leasing of convenience store and gas service station properties. The firm operates through the following brands: 76, BP, Citgo, Conoco, Exxon, Gulf, Mobil, Sunoco, Chevron, Global, Fas Mart, Aloha, United Oil, RaceTrac, and Valero. Getty Realty was founded by Leo Liebowitz in 1955 and is headquartered in New York, NY.

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Getty Realty reports robust Q4 earnings, affirms 2023 guidance

Getty Realty's Q4 2022 performance reflects solid revenue growth, increased base rental income, and improved AFFO per share, underpinned by strategic investments and portfolio diversification.
While facing challenges with rising G&A costs and environmental liabilities, the company's financial strength, disciplined approach, and reaffirmed guidance signal resilience and growth potential.
Opportunities exist for Getty Realty to capitalize on its strong foundation, optimize operational efficiency, explore new growth avenues, and enhance sustainability practices for long-term success.
Investors can be optimistic about Getty Realty's performance and strategic direction, as management remains focused on driving shareholder value and navigating market dynamics effectively.

Getty Realty posts robust Q1 results, raises 2023 guidance

Getty Realty delivered a strong financial performance in Q1 2023, driven by revenue growth and increased AFFO per share.
The company's operational strength, strategic investments, and raised guidance signal confidence in future prospects.
While debt management and capital allocation pose challenges, opportunities lie in expanding investments and exploring new growth avenues.

Getty Realty reports solid Q2 performance and strategic growth outlook

Getty Realty delivered strong financial results, showcasing growth in AFFO per share and earnings, supported by strategic investments and prudent financial management.
While facing challenges from industry trends and market conditions, the company's resilience and proactive approach position it well for future opportunities.
With a clear focus on diversification, debt management, and value creation, Getty Realty remains poised for sustained growth and shareholder value enhancement.

Getty Realty reports strong Q3 earnings and strategic growth outlook

Getty Realty delivered solid financial performance in Q3 2023, with growth in AFFO per share and total revenues, supported by strategic investments.
The company's increased dividend, raised guidance, and strong lease portfolio underscore their commitment to shareholder value and financial stability.
While facing challenges in market dynamics and tenant operations, Getty Realty's focus on opportunities for portfolio expansion and optimized investments positions them for continued growth.

Getty Realty reports record investments and revenue growth in 2023

Getty Realty delivered robust financial performance in 2023, underpinned by record investments and revenue growth, positioning the company for continued success.
While facing challenges such as managing debt levels and addressing analyst concerns, Getty's strengths in diverse investments and market optimism offer avenues for growth.
By leveraging opportunities in market positioning, technology, and sustainability, Getty Realty can navigate challenges and drive value creation for stakeholders.

Getty Realty reports strong Q1 earnings, affirms 2024 guidance

Getty Realty's Q1 2024 performance reflects robust growth in base rental income and AFFO per share, underpinned by strategic investments and portfolio management.
While facing challenges such as rising G&A expenses, the company maintains strong occupancy rates and reaffirms its 2024 AFFO guidance, signaling stability.
Opportunities lie in portfolio diversification, tenant coverage optimization, and market trends alignment, positioning Getty Realty for sustained growth and resilience.
Investors can find confidence in Getty Realty's operational strength, prudent risk management, and strategic focus on revenue optimization and asset classes.

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Getty Realty Corp. is a real estate investment trust, which engages in the acquisition, financing, and development of convenience, automotive, and other single tenant properties. Its portfolio includes convenience and gas, car wash, auto service and parts. Getty Realty was founded by Leo Liebowitz in 1955 and is headquartered in New York, NY.

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Getty Realty has gained 23% in the past year, driven by expectations of Federal Reserve rate cuts, and offers a 5.8% dividend yield. The company's stable business model, with 99.7% occupancy and strong tenant credit profiles, ensures consistent cash flow and minimal delinquency risk. Getty's long-term leases with automatic escalators and a solid balance sheet support its acquisitive growth strategy, yielding 8% on new deals.

Getty Realty: Solid Q3 Results Given Stable Cash Flow And Accretive M&A

Getty Realty Corp. (NYSE:GTY ) Q3 2024 Earnings Conference Call October 24, 2024 8:30 AM ET Company Participants Joshua Dicker - Executive Vice President, General Counsel and Secretary Christopher Constant - President and Chief Executive Officer Mark Olear - Executive Vice President and Chief Operating Officer Brian Dickman - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Farrell Granath - Bank of America Mitch Germain - Citizens JMP Securities Upal Rana - KeyBanc Capital Markets Wesley Golladay - Robert W. Baird & Co. Operator Good morning, and welcome to Getty Realty's Third Quarter 2024 Earnings Call.

Getty Realty Corp. (GTY) Q3 2024 Earnings Call Transcript

Getty Realty (GTY) came out with quarterly funds from operations (FFO) of $0.59 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to FFO of $0.57 per share a year ago.

Getty Realty (GTY) Q3 FFO and Revenues Surpass Estimates

- Reports $147.6 Million of Year-to-Date Investment Activity - - Raises 2024 Full Year Earnings Guidance - NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”), a net lease REIT focused on convenience and automotive retail real estate, announced today its financial and operating results for the quarter ended September 30, 2024. Third Quarter 2024 Highlights Net earnings: $0.27 per share Funds From Operations (“FFO”): $0.56 per share Adjusted Funds From Operations (“AFFO”): $0.59 per share Invested $30.2 million across 16 properties at an 8.0% initial cash yield, plus an additional $15.1 million across four properties subsequent to quarter end Raised gross proceeds of approximately $121.1 million in a follow-on common stock offering in connection with forward sales agreements Agreed to issue $125.0 million of new senior unsecured notes to certain investors in a private placement transaction Extended leases totaling 11.0% of annualized base rent, or ABR, and increased the portfolio's weighted average lease term, or WALT, to more than 10.0 years As of October 23, 2024, had a committed investment pipeline of more than $70.0 million for the development and/or acquisition of 24 convenience and automotive retail properties “We are pleased to have produced another quarter of consistent earnings growth, while expanding and diversifying our portfolio of convenience and automotive retail properties," stated Christopher J.

Getty Realty Corp. Announces Third Quarter 2024 Results

NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) announced today that its Board of Directors declared a cash dividend of $0.47 per common share, an increase of 4.4% over the previous quarterly dividend. The dividend is payable on January 9, 2025 to holders of record on December 26, 2024.

Getty Realty Corp. Announces Increased Quarterly Cash Dividend

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Average REIT short interest fell 8 basis points in September to 3.7% of shares outstanding, per S&P Global Market Intelligence data. The hotel sector followed with a 60-basis point drop, while the office sector remained the most-shorted at 5.3% of shares outstanding. Wheeler Real Estate Investment Trust logged the largest increase in short interest, up 16 percentage points to 32.4% of shares outstanding.

U.S. REITs Log Dip In Short Interest In September

Getty Realty remains an attractive buy for long-term dividend investors, offering a nearly 6% yield and strong fundamentals despite recent sector cooling. GTY has shown robust growth with double-digit FFO & AFFO increases and a solid balance sheet, supporting its expansion and long-term outlook. The REIT's portfolio, focused on convenience stores and car washes, presents some risks but also significant growth potential, especially with favorable interest rate trends.

Getty Realty: Double-Digit AFFO Growth, Near 6% Yield Make Them A Long-Term Buy

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Buried Treasures: 11 Dramatically Undervalued REITs

Getty Realty is a net-lease REIT with a well-diversified portfolio of properties, high occupancy, and a solid tenant base. The REIT maintains a BBB- rating with manageable debt levels and high liquidity, ensuring financial flexibility and stability even in fluctuating interest rate environments. Despite some risks, GTY stock is undervalued, offering a high dividend yield which is supported by stable cash flows.

Getty Realty: Profitable, Solvent, And Undervalued

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Agree Realty owns retail properties, like grocery stores and home improvement locations. Getty Realty owns gas stations and other auto-related convenience properties.

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Postal Realty Trust is a net lease REIT focused on USPS properties, with a 6.2 million SF portfolio and growth potential through consolidation. Getty Realty specializes in convenience stores and automotive properties, with a 1,124-property portfolio, strong tenant coverage, and consistent growth. Both PSTL and GTY offer solid dividends, trade at discounts, and are rated as Buy opportunities for potential growth in the net lease REIT sector.

2 Under-The-Radar Net Lease REITs: Where's The Love?

Pilot Travel Centers is now completely owned by Berkshire Hathaway. Getty Realty is a similar company that owns gas stations and convenience stores.

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The company's strategic acquisitions and development activities have strengthened its portfolio, but investors should be aware of potential risks and headwinds. GTY's valuation is favorable compared to its industry counterparts, with a lower P/E ratio and stronger earnings growth. Getty Realty Corp. offers a 5.97% dividend yield, higher than peers like Realty Income Corp. and Kimco Realty Corp.

Getty Realty Corp.: A Single Tenant Retail REIT Offering Investors An Attractive Yield Of 5.97%

NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (the “Company”) today announced the pricing of an underwritten public offering of 3,500,000 shares of its common stock, sold on a forward basis in connection with the forward sale agreements described below, at a public offering price of $30.10 per share. The forward purchasers (or their affiliates) and the Company have also granted the underwriters of the offering a 30-day option to purchase up to an additional 525,000 shares of common stock. The offering is expected to close on July 31, 2024, subject to customary closing conditions.

Getty Realty Corp. Announces Pricing of Public Offering of 3,500,000 Shares of Common Stock

Getty Realty Corp. (NYSE:GTY ) Q2 2024 Earnings Conference Call July 25, 2024 8:30 AM ET Company Participants Joshua Dicker - Executive Vice President, General Counsel and Secretary Christopher Constant - President and Chief Executive Officer Mark Olear - Executive Vice President and Chief Operating Officer Brian Dickman - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Farrell Granath - Bank of America Brad Heffern - RBC Capital Markets Wes Golladay - Baird Akhil Guntupalli – J.P. Morgan Michael Gorman - BTIG Upal Rana - KeyBanc Capital Markets Mitch Germain - Citizens JMP Securities Operator Good morning, and welcome to Getty Realty's Second Quarter 2024 Earnings Call.

Getty Realty Corp. (GTY) Q2 2024 Earnings Call Transcript

Getty Realty (GTY) came out with quarterly funds from operations (FFO) of $0.58 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to FFO of $0.56 per share a year ago.

Getty Realty (GTY) Q2 FFO and Revenues Beat Estimates

– Reports $104 Million of Year-to-Date Investment Activity – – Increases 2024 Full Year Earnings Guidance – NEW YORK, July 24, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”) announced today its financial and operating results for the quarter ended June 30, 2024. Second Quarter 2024 Highlights Net earnings: $0.30 per share Funds From Operations (“FFO”): $0.55 per share Adjusted Funds From Operations (“AFFO”): $0.58 per share Invested $61.7 million across 23 properties at an 8.1% initial cash yield Committed investment pipeline of more than $53 million, as of July 24, 2024, for the development and/or acquisition of 25 convenience and automotive retail properties “We continued to grow and diversify our portfolio of convenience and automotive retail properties by accretively deploying more than $100 million through the first half of the year,” stated Christopher J.

Getty Realty Corp. Announces Second Quarter 2024 Results

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NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) announced today that its Board of Directors declared a cash dividend of $0.45 per common share payable on October 10, 2024 to holders of record on September 26, 2024.

Getty Realty Corp. Announces Regular Quarterly Cash Dividend

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Thinking outside the box involves looking at problems from a different perspective, such as using virtual reality to stimulate creativity. Realty Income has grown into a $73 billion REIT by thinking outside the box and expanding into various property sectors. Evaluating cost of capital is crucial for REITs to create value, with lower costs allowing for higher quality investments.

Thinking Outside The (Net Lease REIT) Box

NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) will release its financial results for the second quarter ended June 30, 2024, after the market closes on Wednesday, July 24, 2024.

Getty Realty Corp. to Report Second Quarter 2024 Financial Results

Getty Realty's fundamentals and market price have diverged, with AFFO/share growing consistently while the market price has fallen, making the stock materially undervalued. The implied cap rate and AFFO multiple undervalue Getty's reliability and growth potential, with a clear runway for steady earnings growth. Getty's focus on automotive-related properties, strong tenant rent coverage, and clean underwriting process set it up for long-term growth and potential capital gains.

Getty Realty: Consistent Growth At A Cheap Multiple

News for Getty Realty Stock (GTY)