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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 its financial results for Q1 2023, showing a net earnings of $0.28 per share and an increase in Adjusted Funds From Operations (AFFO) to $0.56 per share, reflecting nearly 8% growth year-over-year. The Company invested $60.7 million across 26 properties and an additional $12.7 million post-quarter end. As of April 26, 2023, Getty has a committed investment pipeline exceeding $105 million for 34 properties. The Company raised its 2023 AFFO guidance to a range of $2.22 to $2.24 per diluted share, up from the earlier $2.19 to $2.21. Despite an increase in general and administrative expenses, Getty maintains a strong balance sheet with no scheduled debt maturities until 2025.
Getty Realty Corp. (NYSE: GTY) has declared a cash dividend of $0.43 per common share, slated for payment on July 6, 2023. The dividend will benefit shareholders on record as of June 22, 2023. As of December 31, 2022, Getty Realty's portfolio encompassed 1,039 properties across 38 states in the United States and Washington, D.C., focusing on net lease real estate in the convenience and automotive sectors. The announcement reflects the company's commitment to returning value to its shareholders while maintaining a robust property portfolio.
Getty Realty Corp. (NYSE: GTY) is set to release its financial results for Q1 ended
A conference call will occur on
A replay will be available on the same day starting at 11:30 a.m. EDT until
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