Getty Rlty Corp Stock Price, News & Analysis

Getty Realty Corp. (NYSE: GTY) has declared a cash dividend of $0.41 per common share, payable on April 7, 2022. Shareholders of record as of March 24, 2022 will receive this payment. Getty Realty is a net lease REIT focused on acquiring and developing convenience and automotive retail properties. As of December 31, 2021, the company owned 1,028 properties across 38 states and Washington D.C.

Getty Realty Corp. (NYSE: GTY) reported its financial results for Q4 and full year 2021, exceeding guidance. Highlights include Q4 net earnings of $0.38 per share, FFO of $0.47, and AFFO of $0.51. For the full year, net earnings were $1.37 per share, with FFO at $1.88 and AFFO at $1.97. The company invested $200 million across 100 properties, with significant acquisitions in convenience and automotive real estate. For 2022, Getty has set AFFO guidance between $2.08 and $2.10 per share. The company continues to enhance its portfolio through strategic acquisitions and redevelopment projects.

Getty Realty Corp. (NYSE: GTY) has announced a private placement of $225 million of senior unsecured notes. This includes $100 million priced at 3.45% maturing on February 22, 2032, and $125 million at 3.65% maturing on January 20, 2033. Proceeds from the notes will be utilized to repay the revolving credit facility and fund investment activities. The financing is aimed at refinancing existing senior unsecured notes due in June 2023. The notes will not be registered under U.S. securities laws and are not available for public sale.

Getty Realty Corp. (NYSE: GTY) announced its 2021 dividend distribution allocations for common stock. The total distribution per share amounts to $1.560, with ordinary income at $0.390 per share, capital gains of $1.1397, and non-dividend distributions totaling $0.3344. The dividends are payable on January 7, 2021, following a record date of December 24, 2020. For investors, this continues to signify the company’s commitment to returning value through dividends.

Getty Realty Corp. (NYSE: GTY) is set to report its financial results for Q4 2021 on February 23, 2022, after market closure. A conference call will be hosted on February 24, 2022, at 8:30 a.m. EST, accessible via phone and live webcast. A replay of the call will be available later for those who cannot attend live. As of September 30, 2021, Getty Realty's portfolio includes 1,021 properties across 36 states and Washington, D.C., focusing on net lease retail and automotive real estate.

Getty Realty Corp. (NYSE: GTY) mourns the loss of its co-founder and former Chairman, Leo Liebowitz, who passed away on December 12, 2021. Mr. Liebowitz dedicated over 60 years to the company, significantly contributing to its transformation from a single gas station to a national real estate investment trust with over 1,000 leased properties. His leadership included roles as CEO and President, and he was known for his personal connection with employees. The company expresses heartfelt condolences to his family during this difficult time.

Getty Realty Corp. (NYSE: GTY) reported third-quarter results for 2021, showing net earnings of $14.0 million ($0.30 per share) and FFO of $22.0 million ($0.48 per share). The company increased its annual guidance for AFFO to $1.93-$1.94 per diluted share. Year-to-date investments reached $145 million across 82 properties, bolstered by $61.1 million in Q3. Revenues from rental properties increased 6.7% to $39.7 million, driven by acquisitions and contractual rent hikes. General and administrative expenses rose 11.9%, largely due to employee-related costs.

Getty Realty Corp. announced a new revolving credit agreement that extends its maturity to October 2025, with two six-month extension options.

The agreement lowers the interest rate by 20 to 50 basis points based on the company’s debt-to-asset ratio and adjusts covenant provisions for compliance with investment-grade standards.

An accordion feature allows for an increase of up to $300 million in credit. This reflects the stability of Getty's retail assets and its commitment to maintaining a strong balance sheet.

Getty Realty Corp. (NYSE: GTY) announced a cash dividend of $0.41 per common share, marking a 5.1% increase over the previous quarter. This dividend will be payable on January 6, 2022, to shareholders on record as of December 23, 2021.

The company, a net lease REIT, specializes in convenience and automotive retail real estate, owning 951 properties and leasing 54 properties in 35 states and Washington, D.C.