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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) 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
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
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.
Getty Realty Corp. (NYSE: GTY) is set to release its third-quarter financial results for the period ending September 30, 2021, after market hours on Wednesday, October 27, 2021. A conference call will be held on Thursday, October 28, 2021, at 8:30 a.m. ET, accessible via phone or live webcast from the company's investor relations website. For those unable to attend live, a replay will be available starting from 11:30 a.m. ET on the same day through November 4, 2021.
Getty Realty Corp. (GTY) reported its financial results for Q2 2021, showing a net earnings increase to $12.9 million ($0.28/share) from $11.0 million ($0.26/share) in Q2 2020. Funds from Operations (FFO) rose to $22.0 million ($0.49/share) compared to $18.6 million ($0.44/share) the previous year. The company invested $44.1 million across 53 properties in Q2, contributing to an 11% rise in Adjusted Funds From Operations (AFFO) per share. Getty increased its 2021 AFFO guidance to $1.89-$1.91 per share due to strong capital market activities.
Getty Realty Corp. (NYSE: GTY) has declared a cash dividend of $0.39 per common share, payable on October 7, 2021, to shareholders on record as of September 23, 2021. The company, a net lease REIT, focuses on the acquisition, financing, and development of single-tenant retail real estate. As of June 30, 2021, Getty owned 951 properties and leased 54 properties across 35 states and Washington, D.C.
Getty Realty Corp. (NYSE: GTY) appointed Evelyn León Infurna as an independent director and member of its Nominating and Corporate Governance Committee, effective immediately. With over 30 years in real estate and corporate finance, Ms. Infurna is currently a Senior Vice President of Investor Relations at SmartRent.com Inc. and has significant experience with ICR, Citigroup, and various hedge funds. The company’s Chairman, Howard Safenowitz, expressed confidence in Infurna’s expertise in capital markets and real estate, highlighting her potential contributions to Getty's long-term success.
Getty Realty Corp. (NYSE: GTY) will announce its financial results for Q2 2021 on July 28, 2021, after market close. A conference call is scheduled for July 29, 2021, at 8:30 a.m. EDT, with access via phone or live webcast. The company owns 951 properties and leases 56 properties across 36 states and Washington, D.C. This net lease REIT focuses on convenience and automotive retail real estate.
Getty Realty Corp. (NYSE: GTY) announced that CEO Christopher J. Constant will present at Nareit’s REITweek: 2021 Investor Conference on June 8, 2021, at 9:30 am EDT. The company aims to provide an updated investor presentation ahead of the event. Mr. Constant expressed eagerness to share insights on investment activities, particularly in the convenience and automotive retail sectors. The virtual conference is free to attend, and registration is available online. Getty Realty Corp. specializes in real estate, owning 902 properties and leasing 58 across 35 states and Washington, D.C.
Getty Realty Corp. (NYSE: GTY) has declared a cash dividend of $0.39 per common share, payable on July 8, 2021, to shareholders on record as of June 24, 2021. The company specializes in the real estate investment trust sector, focusing on acquisition, ownership, leasing, and redevelopment of convenience stores, gasoline stations, and related retail properties. As of March 31, 2021, Getty Realty owned 902 properties and leased 58 properties across 35 states and Washington, D.C.
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