NEW YORK, March 25, 2026 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY), a net lease REIT focused on convenience and automotive retail real estate, will release its financial results for the first quarter ended March 31, 2026 after the market closes on Wednesday, April 22, 2026. Getty Realty Corp. will host a conference call and webcast on Thursday, April 23, 2026, at 8:30 a.m. ET. To participate in the call, please dial 1-877-423-9813, or 1-201-689-8573 for international participants, ten minutes befor ...

Core Insights - Getty Realty Corp. has secured long-term tenant commitments and reduced near-term lease expirations, enhancing key portfolio metrics [1] Group 1: Lease Extensions and Financial Impact - The company has extended lease terms for five unitary leases totaling $10.9 million of annual base rent (ABR), representing 5.0% of total ABR as of December 31, 2025 [2] - The weighted average lease term (WALT) increased from 9.9 years to 10.4 years, while ABR expiring in 2027 decreased by approximately 70% to 1.7% of total ABR [4] - Aggregate lease expirations for 2026 and 2027 represented less than 2.8% of total ABR [4] Group 2: Specific Lease Amendments - CrossAmerica Partners LP extended the expiration of two unitary leases by ten years to April 2037, increasing the ABR by $0.5 million due to the conversion of variable rent to fixed rent [5] - BP Products North America exercised two five-year renewal options, extending its unitary lease expiration by ten years to December 2037 [5] - CPD Energy amended lease terms to extend one unitary lease expiration by ten years to December 2040, reducing the number of properties under that lease from 17 to 9 [5] - Shahani agreed to extend its unitary lease expiration by two years to July 2041, increasing the number of properties under the lease from 12 to 18 [5] Group 3: Company Overview - Getty Realty Corp. is a publicly traded net lease REIT specializing in the acquisition, financing, and development of convenience, automotive, and other single-tenant retail real estate, with a portfolio of 1,174 freestanding properties across 44 states and Washington, D.C. as of December 31, 2025 [3]

Market Context - The market is experiencing significant volatility due to geopolitical events, particularly US and Israeli airstrikes, and rising inflation numbers [10][12][20] - Recent economic data indicates that inflation remains high, with core CPI at 2.5% and PPI at 2.9% year-over-year, contributing to market pressure [13][21] - The market has seen a rotation into defensive sectors, with energy up 27.5% and basic materials up 17.4% year-to-date [15][16] Investment Strategy - In light of current market conditions, the focus is on dividend stocks as a hedge against inflation and geopolitical uncertainty [14][20] - The average dividend yield of the recommended stocks is approximately 5.64% [15] - A barbell approach is suggested, combining dividend-paying stocks with those that have strong fundamentals to mitigate risk [41][42] Stock Recommendations - Three REITs are highlighted for their strong performance and dividend yields: 1. **Getty (GTY)**: Market cap of $1.96 billion, ranked 1 out of 24 in retail REITs, with 27 consecutive years of dividend payments and a forward yield of 5.86% [62][63][65] 2. **W.P. Carey (WPC)**: Market cap of $16 billion, ranked 2 out of 12 in diversified REITs, focusing on mission-critical assets with strong profitability and momentum [67][69] 3. **Alpine Income Property Trust (PINE)**: Market cap of $320 million, ranked 1 out of 170 in diversified REITs, with a 5.3% dividend increase since Q4 [71][73] Performance Metrics - The REIT strong buys have outperformed the XLRE ETF, with a return of 191% since January 2017 compared to the ETF's 84% [60][61] - The quant strong buys have shown a significant performance increase, with a 117% return over two years following a 15% market pullback [52] Market Sentiment - Current market sentiment is characterized by fear and uncertainty, leading to a sell-off in high-performing stocks, which presents buying opportunities for those with strong fundamentals [29][30][55] - Historical data suggests that markets tend to recover positively after military events, with a median return of about 11% over 12 months [46][48]

Core Insights - Steven Cress is a key figure at Seeking Alpha, serving as VP of Quantitative Strategy and Market Data, and is the creator of the platform's quantitative stock rating system [1] - Cress has over 30 years of experience in equity research, quantitative strategies, and portfolio management, positioning him as an expert in investment topics [1] Company Overview - Seeking Alpha offers a quantitative stock rating system designed to interpret data for investors, providing insights and saving time [1] - The platform includes analytical tools that simplify complex investment research through a data-driven approach [1] Product Offerings - Alpha Picks is a systematic stock recommendation tool aimed at helping long-term investors build a high-quality portfolio [1] - The grading system for stock trading recommendations is updated daily, enhancing user experience and decision-making [1] Background of Key Personnel - Steven Cress previously founded CressCap Investment Research, which was acquired by Seeking Alpha in 2018, enhancing its quant analysis capabilities [1] - Prior to his role at Seeking Alpha, Cress founded a quant hedge fund and led a proprietary trading desk at Morgan Stanley [1]

Core Insights - REITs are regaining favor in 2026, leading to renewed equity issuance opportunities for companies like W.P. Carey Inc. (WPC) and Getty Realty Corp. (GTY) [1][2] - Both companies experienced temporary declines in share prices following their equity offerings, presenting potential buying opportunities for investors [1][5] REIT Market Dynamics - Historically, REITs have been hesitant to issue equity due to concerns over dilution affecting AFFO/share and NAV [2] - In 2026, stock prices for WPC and GTY have risen due to strong earnings reports, making equity issuance more viable [2][3] Share Offerings Impact - Share offerings create temporary liquidity events that can significantly alter stock prices [4] - WPC's issuance of 6 million shares at $72 each raised $432 million, resulting in a 4% drop in stock price on the announcement day [6][10] - GTY's offering of 4 million shares at $32.75 led to a larger price drop of about 7% due to its proportionally larger impact on outstanding shares [14][16] Financial Metrics and Projections - WPC's expected AFFO/share for 2026 is $5.17, leading to a cost of equity of 7.18% from the recent issuance [10][12] - The capital raised will fund approximately $864 million in acquisitions, with a projected cash cap rate of around 7.25%, significantly above WPC's cost of capital [10][12] - GTY's expected AFFO/share is $2.51, with a cost of equity of 7.66% from its recent issuance, and a blended cost of capital of 6.71% [16][17] Management and Strategy - Effective REIT management is crucial for determining the success of equity offerings, focusing on cost of capital and cap rates on the use of proceeds [19][20] - Both WPC and GTY strategically chose to issue equity when market conditions were favorable, indicating disciplined management practices [21]

Core Viewpoint - Getty Realty Corp. has announced a public offering of 4,000,000 shares of its common stock, aiming for gross proceeds of approximately $131 million, with a closing date expected on February 19, 2026 [1] Group 1: Offering Details - The offering includes a 30-day option for underwriters to purchase an additional 600,000 shares [1] - J.P. Morgan and Wells Fargo Securities are acting as book-running managers for the offering [2] - The company will enter into forward sale agreements with J.P. Morgan and Wells Fargo, allowing for the borrowing and selling of shares to underwriters [3] Group 2: Financial Implications - The company will not initially receive proceeds from the forward purchasers' sale of shares [4] - Net proceeds from the offering will be used for property acquisitions, debt repayment, working capital, and other corporate purposes [4] Group 3: Company Overview - Getty Realty Corp. is a net lease REIT focused on convenience and automotive retail real estate, with a portfolio of 1,174 properties across 44 states and Washington, D.C. as of December 31, 2025 [11]

Core Insights - Getty Realty (GTY) is highlighted for its undervaluation, strong dividend yield, and solid financial position despite macroeconomic pressures [1] - The company has upgraded its guidance and maintains a very strong occupancy rate of approximately 99.8% [1] Company Analysis - Getty Realty is recognized for its strong financial metrics and operational performance, which positions it favorably in the market [1] - The company is part of a broader analysis that includes various sectors such as commodities, technology, and emerging markets, indicating a diverse investment focus [1] Investment Perspective - The analysis emphasizes the potential for value investing in companies like Getty Realty, particularly in sectors such as REITs [1]

Core Viewpoint - Deutsche Pfandbriefbank (PBB) has indicated that it is unlikely to meet its key financial targets for 2027 due to a "subdued" commercial property market [1] Company Summary - PBB is recognized as one of Germany's leading property financiers [1] - The bank's outlook reflects challenges in the commercial property sector, impacting its financial performance [1]

Core Viewpoint - Getty Realty reported strong performance in 2025, driven by stable rental income, acquisitions, and significant rent growth, with a focus on diversifying its portfolio and expanding into new sectors [3][5][20]. Financial Performance - In Q4 2025, Getty reported AFFO per share of $0.63, FFO of $0.64, and net income of $0.45, while for the full year, AFFO per share was $20.43, FFO per share was $20.34, and net income was $1.35 [2]. - Annualized base rent increased by nearly 12% in 2025, with portfolio occupancy at approximately 99.7% [3][5]. - Adjusted funds from operations (AFFO) per share rose 5% year-over-year in Q4 and 3.8% for the full year, aligning with the high end of the company's earnings guidance [3][5]. Investment Activity - Getty invested approximately $270 million in 2025 at an initial cash yield of 7.9%, focusing on collision repair, travel centers, and drive-through quick service restaurants (QSRs) [4][7]. - Notable transactions included a $100 million sale-leaseback for a convenience store portfolio and a commitment of up to $82.5 million for new collision centers [7][8]. - The company underwrote a record $6.8 billion of potential investments in 2025, with 54% focused on non-convenience store properties [8][9]. Portfolio and Diversification - The portfolio consists of 1,169 net lease properties, with 61% of annualized base rent coming from the top 50 metropolitan statistical areas (MSAs) [5][13]. - The company has added 49 new tenants since the start of its current strategy, with nearly 30% of annual base rent now derived from non-convenience and gas properties [13]. Balance Sheet and Guidance - As of year-end 2025, net debt to EBITDA was approximately 5.1x, with a pro forma senior unsecured notes total of $1 billion and no maturities until 2028 [4][14]. - The company reaffirmed its 2026 AFFO guidance of $20.48 to $20.50 per share, reflecting the current run rate of the in-place portfolio [16]. Leadership Transition - A leadership transition is underway, with RJ Ryan set to become Chief Investment Officer following Mark Olear's retirement, credited for expanding Getty's investable universe and refining underwriting processes [19].

Property Ownership and Investment - As of December 31, 2025, Getty Realty Corp. owned 1,145 properties and leased 29 properties, totaling 1,174 properties across 44 states and Washington, D.C.[29] - During the year ended December 31, 2025, Getty Realty invested approximately $273.0 million in convenience and automotive retail properties, acquiring 28 drive-thru quick service restaurants, 24 convenience stores, 15 automotive service centers, and nine express tunnel car washes[22] - Over the last five years, Getty Realty acquired 338 properties for an aggregate purchase price of approximately $1.1 billion[41] - The company completed 34 redevelopment and revenue-enhancing capital expenditure projects since the inception of its redevelopment program in 2015[43] - The company’s investment strategy includes pursuing sale leaseback transactions and providing forward commitments for new-to-industry construction[196] - The company’s properties are primarily leased to convenience store operators, petroleum distributors, and automotive-related tenants under triple-net leases[193] - The company’s portfolio is focused on well-located, freestanding properties that support automobility and provide convenience to consumers in major markets[197] Financial Performance - Net earnings for 2025 increased to $79,192,000, up from $71,064,000 in 2024, representing a growth of 2.0%[208] - Funds from operations (FFO) rose to $136,171,000 in 2025, compared to $123,976,000 in 2024, marking an increase of 9.2%[208] - Adjusted funds from operations (AFFO) reached $141,439,000 in 2025, up from $130,793,000 in 2024, reflecting an increase of 8.8%[208] - Revenues from rental properties totaled $219,585,000 in 2025, a rise of 10.5% from $198,669,000 in 2024[209] - Rental income increased to $207,300,000 in 2025, compared to $186,124,000 in 2024, showing a growth of 11.4%[210] - Total property costs decreased to $8,745,000 in 2025, down from $14,859,000 in 2024, a reduction of 41.1%[214] - General and administrative expenses increased to $27,268,000 in 2025, up from $25,265,000 in 2024, an increase of 7.9%[209] - Interest expense rose to $46,374,000 in 2025, compared to $39,272,000 in 2024, reflecting an increase of 18.5%[209] Risks and Challenges - The company faces significant risks related to real estate ownership and leasing, including competition, tenant performance, and environmental liabilities[55] - A substantial portion of the company's revenues is derived from tenants in the petroleum marketing industry, making it vulnerable to fluctuations in that sector[66] - The company is exposed to risks from tenants' financial distress, which could lead to vacancies and disruptions in rent receipts[62] - Environmental laws and regulations may impose significant costs and liabilities, adversely affecting profitability and financial condition[68] - The company competes with numerous real estate property owners, which may increase acquisition costs and impact future property purchases[61] - The reliance on un-rated tenants complicates the assessment of their creditworthiness, potentially increasing the risk of defaults[67] - The company may face challenges in renewing leases or re-leasing properties under less favorable terms due to economic conditions[62] - Changes in market conditions could adversely affect the market price of the company's publicly traded common stock[64] - The company is subject to risks associated with interest rate fluctuations, which could impact financing costs and investment strategies[58] - The potential for increased property taxes and environmental compliance costs could further strain the company's financial resources[55] - The company faces risks from inflation, which could negatively impact its variable rate debt and tenants' ability to pay rent if operating expenses exceed revenue increases[87] - Business disruptions from natural or man-made disasters could have serious adverse consequences on future revenue and financial condition[80] Legal and Environmental Matters - The company is subject to various lawsuits related to environmental matters, which could result in material losses and adversely affect its financial condition[78] - Environmental liabilities could cause a material adverse effect on the company's business, financial condition, results of operations, liquidity, ability to pay dividends, or stock price[77] - The company is involved in various legal proceedings related to environmental claims, which may exceed accrued amounts and impact financial conditions[155] - The EPA has designated the Lower Passaic River as a Superfund Site, with an estimated remediation cost of $1.38 billion for the lower 8.3 miles and $441 million for the upper 9 miles[164][163] - In December 2022, the company and 84 other settling parties agreed to pay a collective sum of $150 million to the EPA for remediation costs, which is in line with previously established legal reserves[168] - The allocation process determined that Occidental is responsible for over 99% of the costs related to the OU2 remedy, leading to settlement negotiations among the parties[167] - The company continues to defend against claims in the Occidental Lawsuit, which seeks cost recovery for response costs related to the Lower Passaic River[166] - The Modified Consent Decree, if upheld, will resolve the company's alleged liability for the remediation of the Lower Passaic River, but the outcome of ongoing appeals remains uncertain[172] Shareholder and Capital Management - The company aims to distribute at least 90% of its taxable income to stockholders annually to maintain its REIT status[19] - The company must distribute at least 90% of its net taxable income to maintain its REIT status, which may limit its ability to fund future capital needs solely from operational income[104] - The company relies on external sources of capital, which may not always be available on favorable terms, impacting its ability to execute significant acquisitions[104] - The company has filed a registration statement with the SEC to offer an indefinite amount of equity and debt securities, including common stock under its ATM Program[107] - Future dividend payments are at the discretion of the Board of Directors and may vary significantly, impacting the company's financial performance and stock price[122] - The company may experience material fluctuations in operating results, which could adversely affect its ability to pay dividends[124] - Future equity issuances could dilute existing shareholders' interests and affect earnings per share[125] - Forward sales agreements may result in substantial dilution to earnings per share and cash payment obligations[126] - In the event of bankruptcy, forward sales agreements would terminate, preventing the company from receiving expected proceeds[132] Cybersecurity and Internal Controls - The cybersecurity risk management program is integrated into the overall enterprise risk management program, ensuring comprehensive coverage across various risk areas[139] - The Audit Committee receives detailed quarterly reports on cybersecurity risks and significant incidents, ensuring oversight and timely updates to the Board of Directors[144] - The company has not experienced any cybersecurity incidents to date, but future incidents cannot be predicted, highlighting the importance of the cybersecurity risk management program[142] - The company has engaged external consultants for comprehensive cybersecurity assessments based on recognized frameworks, enhancing its risk management strategies[141] - The company’s internal controls over financial reporting are critical for reliable financial reporting, and any weaknesses could harm its reputation and operating results[96] Ownership Structure and Governance - The company's charter limits individual share ownership to 5.0% and 9.9%, which may deter large investors and affect potential takeover premiums[121] - Maryland law may discourage third-party acquisitions, potentially delaying or deterring changes in control[133]