Welcome to our dedicated page for Getty Realty news (Ticker: GTY), a resource for investors and traders seeking the latest updates and insights on Getty Realty stock.
Getty Realty Corp. (NYSE: GTY) is a leading publicly-traded real estate investment trust (REIT) in the United States. The company focuses on the ownership, leasing, and financing of convenience stores and gasoline station properties. With a vast portfolio of 932 properties across 30 states and Washington, D.C., Getty Realty operates under various well-known brands such as 76, Aloha, BP, Citgo, Conoco, Exxon, Getty, Mobil, Shell, Sunoco, and Valero.
The company's portfolio includes 817 properties leased under 25 separate unitary or master triple-net leases, and 101 properties leased under single unit triple-net leases. Getty Realty's properties are strategically situated to cater to high-traffic areas, ensuring relevance and demand in the market.
Apart from leasing, Getty Realty is actively redeveloping nine former convenience store and gasoline station properties into new convenience stores or alternative single-tenant net lease retail uses. This redevelopment strategy underscores the company's commitment to growth and value addition for shareholders.
Additionally, Getty Realty diversifies its portfolio by including car washes, automotive service centers, automotive parts retailers, and drive-thru quick service restaurants. The majority of the revenue is generated in the form of rental income, which provides a stable financial base for the company.
Recent achievements include record investment activity and robust financial results, positioning Getty Realty for continued success. The company has also reaffirmed its 2024 full-year earnings outlook, reflecting confidence in its financial health and strategic direction.
Getty Realty Corp. (NYSE: GTY) has announced an expansion of its senior unsecured revolving credit facility to $450 million, up from its previous amount. The Credit Facility will mature in January 2029, with options to extend to January 2030, and includes an accordion option for additional lender commitments up to $300 million.
The company used the increased capacity to repay its $150 million senior unsecured term loan that was due in October 2025. This amount remains drawn on the Credit Facility and continues to be subject to interest rate swaps that fixed SOFR at 4.73% until October 2026 or earlier repayment.
As of December 31, 2024, Getty's portfolio included 1,118 freestanding properties across 42 states and Washington, D.C. The company now has no debt maturities until June 2028.
Getty Realty Corp. (NYSE: GTY) has disclosed the tax treatment of its 2024 dividend distributions for common stock shareholders. The company distributed a total of $1.80 per share throughout 2024, paid in four quarterly installments of $0.45 each. The tax breakdown shows that $1.228048 per share qualifies as Ordinary Income (Box 1a), while $0.571952 per share represents Non-Dividend Distributions (Box 3). No capital gains were reported for the year.
Getty Realty Corp. operates as a net lease REIT, focusing on convenience, automotive, and single-tenant retail real estate. As of December 31, 2024, the company's portfolio comprised 1,118 freestanding properties across 42 states and Washington, D.C.
Getty Realty Corp (NYSE: GTY) reported significant investment and capital activities for 2024. The company invested $209 million in convenience and automotive retail assets at an 8.3% initial cash yield, with $76 million invested in Q4 at an 8.9% yield. The REIT raised approximately $289 million in new equity and debt capital, including $32 million through ATM equity program and $125 million in unsecured notes.
Portfolio activities included acquiring 31 express tunnel car washes, 19 auto service centers, 17 convenience stores, and four drive-thru restaurants. The company sold 31 properties for $13 million. Getty has established its 2025 AFFO guidance at $2.40 to $2.42 per diluted share and maintains a committed investment pipeline of over $29 million for 15 convenience and automotive retail assets.
Getty Realty Corp. (NYSE: GTY) has announced it will release its Q4 2024 financial results after market close on February 12, 2025. The company will host a conference call and webcast on February 13, 2025, at 8:30 a.m. EST. A replay will be available from 11:30 a.m. EST on February 13 through February 20, 2025.
Getty Realty is a net lease REIT focused on convenience, automotive and single tenant retail real estate. As of September 30, 2024, the company's portfolio comprised 1,108 freestanding properties across 42 states and Washington, D.C.
Getty Realty Corp. (NYSE: GTY) has closed a $125 million private placement of senior unsecured notes, comprising $50 million notes at 5.52% maturing September 2029 and $75 million notes at 5.70% maturing February 2032. The notes, funding on February 25, 2025, will be used to repay $50 million 4.75% Series C notes due February 2025 and for general corporate purposes. The placement was made with New York Life Insurance Company and The Prudential Insurance Company of America. Getty Realty, a net lease REIT, currently manages 1,108 properties across 42 states and Washington, D.C.
Getty Realty Corp. (NYSE: GTY) reported strong Q3 2024 results with net earnings of $0.27 per share, FFO of $0.56 per share, and AFFO of $0.59 per share. The company invested $30.2 million across 16 properties at an 8.0% initial cash yield, plus an additional $15.1 million across four properties post-quarter. Base rental income grew 14.7% to $46.9 million in Q3.
Notable achievements include raising $121.1 million through a follow-on common stock offering, agreeing to issue $125.0 million in senior unsecured notes, and extending leases representing 11.0% of annualized base rent. The company raised its 2024 AFFO guidance to $2.32-$2.33 per share and maintains a committed investment pipeline exceeding $70.0 million for 24 properties.
Getty Realty Corp. (NYSE: GTY) has announced an increase in its quarterly cash dividend. The Board of Directors declared a dividend of $0.47 per common share, representing a 4.4% increase over the previous quarter. This dividend will be payable on January 9, 2025, to shareholders of record as of December 26, 2024.
Getty Realty Corp. is a publicly traded, net lease REIT that specializes in acquiring, financing, and developing convenience, automotive, and other single-tenant retail real estate. As of June 30, 2024, the company's portfolio comprised 1,124 freestanding properties across 42 states in the United States and Washington, D.C.
Getty Realty Corp. (NYSE: GTY) has announced it will release its third quarter 2024 financial results after market close on Wednesday, October 23, 2024. The company will host a conference call and webcast on Thursday, October 24, 2024, at 8:30 a.m. EDT. Participants can dial 1-877-423-9813 (or 1-201-689-8573 for international callers) or access the live webcast via the company's investor relations website.
A replay will be available from 11:30 a.m. EDT on October 24 until 11:59 p.m. EDT on October 31, 2024. To access the replay, dial 1-844-512-2921 (or 1-412-317-6671 for international participants) with pass code 13748932. Getty Realty Corp. is a net lease REIT specializing in convenience, automotive, and single tenant retail real estate, with a portfolio of 1,124 properties across 42 states and Washington, D.C. as of June 30, 2024.
Getty Realty Corp. (NYSE: GTY) has announced the pricing of a public offering of 3,500,000 shares of common stock at $30.10 per share. The offering, expected to close on July 31, 2024, includes a 30-day option for underwriters to purchase up to 525,000 additional shares. The company plans to enter into forward sale agreements with BofA Securities, J.P. Morgan, and KeyBanc Capital Markets. Getty Realty intends to use the net proceeds to fund property acquisitions, repay debt, and for general corporate purposes. The offering is made under an automatic shelf registration statement filed with the SEC on January 5, 2024.
Getty Realty Corp. (NYSE: GTY) has announced a public offering of 3,500,000 shares of common stock, with an option for underwriters to purchase an additional 525,000 shares. The company is entering into forward sale agreements with BofA Securities, J.P. Morgan, and KeyBanc Capital Markets, who will act as book-running managers. Under these agreements, Getty Realty will receive proceeds from the sale of shares within approximately one year.
The company plans to use the net proceeds for property acquisitions, debt repayment, working capital, and other general corporate purposes. An automatic shelf registration statement for this offering has been filed with the SEC. The offering is subject to market conditions and there is no assurance as to whether or when the offering may be completed.
FAQ
What is the current stock price of Getty Realty (GTY)?
What is the market cap of Getty Realty (GTY)?
What does Getty Realty Corp specialize in?
How many properties does Getty Realty Corp own?
What types of properties are included in Getty Realty's portfolio?
Which brands operate under Getty Realty's properties?
What type of leases does Getty Realty Corp use?
What redevelopment projects is Getty Realty currently involved in?
How does Getty Realty generate most of its revenue?
What are some recent achievements of Getty Realty Corp?
In which regions are Getty Realty Corp's properties located?
What financial outlook has Getty Realty Corp provided for 2024?
