Welcome to our dedicated page for Getty Rlty news (Ticker: GTY), a resource for investors and traders seeking the latest updates and insights on Getty Rlty stock.
Getty Realty Corp (GTY) is a leading real estate investment trust (REIT) specializing in convenience store, automotive, and fuel station properties. This page provides investors and stakeholders with timely updates on GTY's corporate developments, financial performance, and strategic initiatives within the net lease real estate sector.
Access official press releases, earnings announcements, and market analyses in one centralized location. Stay informed about property acquisitions, lease agreements, redevelopment projects, and dividend declarations through verified sources. Our curated news collection eliminates the need to track multiple platforms, delivering essential updates with clarity and accuracy.
Key coverage areas include quarterly financial results, portfolio expansion activities, leadership updates, and sustainability initiatives. All content maintains strict editorial standards to ensure compliance with financial disclosure regulations. Bookmark this page for efficient tracking of GTY's evolving position in the convenience retail real estate market.
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.
Getty Realty reported its Q2 2024 results, with net earnings of $0.30 per share, FFO of $0.55 per share, and AFFO of $0.58 per share. The company invested $61.7 million across 23 properties, achieving an 8.1% initial cash yield and has a $53 million committed investment pipeline for 25 properties. Year-to-date investments total $104 million.
Rental income grew by 14.9% YoY to $45.5 million for the quarter, and interest on notes and mortgages receivable increased due to higher balances and rates. Property operating expenses decreased, primarily due to lower taxes, while general and administrative expenses increased owing to employee-related costs.
Getty reported total outstanding debt of $842.5 million and cash equivalents of $4.7 million. The company issued 0.2 million shares for net proceeds of $7.3 million and has forward sale agreements for an additional 1.2 million shares. 2024 AFFO guidance has been raised to $2.30-$2.32 per diluted share, reflecting completed transactions and investment activities.
Getty Realty Corp. (NYSE: GTY) has announced a regular quarterly cash dividend of $0.45 per common share. The dividend is payable on October 10, 2024 to shareholders of record as of September 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 properties. As of June 30, 2024, the company's portfolio comprised 1,124 freestanding properties located across 42 states in the United States and Washington, D.C.
Getty Realty Corp. (NYSE: GTY) announced it will release its Q2 2024 financial results on July 24, 2024, post-market close. A conference call and webcast are scheduled for July 25, 2024, at 8:30 a.m. EDT. Interested parties can dial in or access the live webcast via the investor section of Getty Realty's website. A replay will be available from July 25, 2024, at 11:30 a.m. EDT until August 1, 2024, at 11:59 p.m. EDT. Getty Realty specializes in net lease real estate for convenience, automotive, and other single-tenant retail properties. As of March 31, 2024, its portfolio includes 1,108 properties across 42 states and Washington, D.C.
Getty Realty Corp. (NYSE: GTY) has released its 2024 Corporate Responsibility Report, emphasizing its Environmental, Social, and Governance (ESG) policies.
The report, prepared with the help of Antea Group, aligns with SASB and TCFD frameworks.
CEO Christopher J. Constant highlighted the company's dedication to stakeholder engagement and understanding climate risks and environmental impacts.
Getty Realty specializes in net lease REIT for convenience, automotive, and retail properties, boasting a portfolio of 1,108 properties across 42 states.
FAQ
What is the current stock price of Getty Rlty (GTY)?
What is the market cap of Getty Rlty (GTY)?
