Over the last four quarters, the company has surpassed consensus FFO estimates two times. Getty Realty (GTY) came out with quarterly funds from operations (FFO) of $0.58 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to FFO of $0.56 per share a year ago. These figures are adjusted for non-recurring items. Getty Realty, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $48.72 million for the quarter ended June 2024, surpassing the Zacks C ...

Exhibit 99.1 FOR IMMEDIATE RELEASE GETTY REALTY CORP. ANNOUNCES SECOND QUARTER 2024 RESULTS - Reports $104 Million of Year-to-Date Investment Activity - - Increases 2024 Full Year Earnings Guidance - NEW YORK, NY, July 24, 2024 — Getty Realty Corp. (NYSE: GTY) ("Getty" or the "Company") announced today its financial and operating results for the quarter ended June 30, 2024. Second Quarter 2024 Highlights All per share amounts are presented on a fully diluted per common share basis, unless stated otherwise. ...

– Reports $104 Million of Year-to-Date Investment Activity – – Increases 2024 Full Year Earnings Guidance – NEW YORK, July 24, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) ("Getty" or the "Company") announced today its financial and operating results for the quarter ended June 30, 2024. Second Quarter 2024 Highlights Net earnings: $0.30 per share Funds From Operations ("FFO"): $0.55 per share Adjusted Funds From Operations ("AFFO"): $0.58 per share Invested $61.7 million across 23 properties at a ...

If you cannot participate in the live event, a replay will be available on Thursday, July 25, 2024, beginning at 11:30 a.m. EDT through 11:59 p.m. EDT, Thursday, August 1, 2024. To access the replay, please dial 1-844- 512-2921, or 1-412-317-6671 for international participants, and reference pass code 13747423. Contact: Investor Relations (646) 349-0598 ir@gettyrealty.com NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) will release its financial results for the second quarter ende ...

1 198 - i 1181 jax10289 Getty Realty's (NYSE:GTY) fundamentals and market price have diverged. Specifically, its AFFO/share has consistently grown at a healthy pace while its market price has fallen. Consequently, the stock has moved from fair value to materially undervalued. As it stands today, Getty is trading at an 8.3% implied cap rate and 11.5X AFFO multiple while having a clear runway of steady earnings growth. I believe the AFFO multiple substantially undervalues the company's reliability and growth, ...

Core Viewpoint - GTY Realty Corp. (GTY) is a triple-net lease REIT focusing on retail/service-oriented properties, particularly in the convenience-gas and automotive sectors, with a strong occupancy rate and solid weighted average lease term (WALT) but faces challenges due to high tenant concentration and upcoming debt maturities [4][16]. Group 1: Business Metrics - GTY has a weighted average annual rent escalation of 1.7%, which is on the higher end compared to peers like NNN at approximately 1.5% [2]. - The company's WALT is 9.2 years, with recent investments yielding a WALT of over 15 years for new acquisitions [7]. - GTY boasts a high occupancy rate of 99.7%, outperforming the median occupancy rate of 94.8% for S&P 500 REITs [7]. Group 2: Financial Health - GTY has a BBB- rated balance sheet with a coverage ratio of 3.9x and a weighted average debt maturity of 5.8 years [8]. - The company faces significant debt maturities in 2025, totaling $175 million, which constitutes nearly 22% of its total debt outstanding [8]. - GTY's AFFO per share growth from 2019 to 2023 was 5.6%, but its 2024 guidance suggests a modest growth of 2.2% [10]. Group 3: Tenant Concentration - Approximately 68.6% of GTY's annual base rent (ABR) comes from its top 10 tenants, indicating a high tenant concentration risk [9]. - This level of tenant concentration is significantly higher than peers like EPRT (19.1%), ADC (37%), and NTST (52.3%) [21]. Group 4: Dividend and Yield - GTY offers an attractive dividend yield of approximately 6.6%, with a dividend per share compound annual growth rate (CAGR) of 5.8% from 2019 to 2023 [11]. - However, upcoming debt maturities may negatively impact the company's financial situation and its ability to sustain dividend growth [11]. Group 5: Valuation - The forward-looking price-to-FFO multiple for GTY stands at 12.6x, which is lower than peers like NTST (14.2x), EPRT (14.7x), and ADC (15.1x) [23]. - Given the high AFFO payout ratio of 78.3%, GTY is considered riskier compared to its peers, which may limit its potential for multiple appreciation [23].

Core Insights - Getty Realty Corp. has published its 2024 Corporate Responsibility Report, emphasizing its commitment to environmental, social, and governance (ESG) practices [1][2] - The report was prepared with the assistance of Antea® Group and aligns with frameworks from the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-Related Financial Disclosures (TCFD) [1][2] Company Overview - Getty Realty Corp. is a publicly traded net lease REIT that focuses on the acquisition, financing, and development of convenience, automotive, and other single-tenant retail real estate [3] - As of March 31, 2024, the company's portfolio consists of 1,108 freestanding properties located in 42 states and Washington, D.C. [3] ESG Commitment - The 2024 Corporate Responsibility Report reflects Getty's ongoing efforts to strengthen relationships with key stakeholders and enhance its ESG practices [2] - The company aims to engage with its team, tenants, and other stakeholders while improving its understanding of climate risks and environmental impacts related to its portfolio [2]

Core Viewpoint - Getty Realty has underperformed in the market despite stable business fundamentals, with a focus on maintaining a secure dividend yield and managing acquisition growth in a challenging financing environment [1][22]. Financial Performance - In Q1, Getty generated $0.57 in adjusted funds from operations (FFO), exceeding consensus estimates, with revenue increasing by 14% to $49 million [2]. - FFO per share increased by 1.8% year-over-year, but actual FFO rose by 15.9%, primarily due to a 13.4% increase in shares outstanding [2][4]. - The company has a 99.7% occupancy rate and an average tenant rent coverage of 2.6x, indicating strong cash flow resilience [4][8]. Business Model and Strategy - Getty Realty owns over 1,000 properties, primarily convenience and gas stores, and is diversifying into car washes and auto-service locations [3][10]. - The company has a weighted average lease term of 9.2 years, with most leases expiring in 2032 or later, providing cash flow certainty [7][8]. - Getty has a 1.7% annual rent escalator, which helps protect cash flow against inflation [5][6]. Investment Activity - In Q1, Getty invested $41 million in new properties, including 12 car washes and seven auto centers, with an initial cash yield of 7.7% [12]. - The company has $44 million under contract for additional properties, targeting a blended cap rate in the high 7% range [12][14]. - Getty's investment strategy has led to a significant increase in average acquired property size and rent [11]. Valuation and Market Position - Getty's shares currently have an 8% FFO yield, which is considered attractive compared to industry peers [19][22]. - The company trades at a discount to the sector, with a lower debt/assets ratio and a higher dividend yield, making it an appealing investment option [20][22]. - The target price for Getty is set at $31, reflecting a 5-8% discount to the sector, which is deemed reasonable given its size and associated risks [24].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-13777 GETTY REALTY CORP. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation o ...

Getty Realty (GTY) came out with quarterly funds from operations (FFO) of $0.57 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.56 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this real estate investment trust would post FFO of $0.57 per share when it actually produced FFO of $0.57, delivering no surprise.Over the last four quarters, the company has surpassed consensus FFO estimates just once.Getty Realty, which ...