Core Viewpoint - Getty Realty (NYSE: GTY) has underperformed in the past year, with a loss of approximately 15% in value, despite steady operational results [1] Company Performance - The company has reported consistent results, but concerns have risen regarding the credit quality of some tenants [1] - Getty Realty's business model is heavily reliant on capital markets, which adds to the uncertainty surrounding its performance [1]

Core Insights - Getty Realty reported revenue of $55.16 million for the quarter ended September 2025, reflecting a year-over-year increase of 9.3% and a surprise of +3% over the Zacks Consensus Estimate of $53.55 million [1] - Earnings per share (EPS) for the quarter was $0.62, significantly higher than $0.27 in the same quarter last year, with an EPS surprise of +1.64% compared to the consensus estimate of $0.61 [1] Financial Performance - Revenue from rental properties was $55.16 million, representing a 9.2% increase year-over-year and exceeding the average estimate of $53.55 million by three analysts [4] - Interest on notes and mortgages receivable was reported at $0.43 million, which is a decline of 55.6% compared to the year-ago quarter and below the estimated $0.54 million [4] - Net earnings per share (diluted) was $0.40, surpassing the average estimate of $0.30 by three analysts [4] Market Performance - Over the past month, shares of Getty Realty have returned +0.8%, while the Zacks S&P 500 composite has changed by +1.1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

分组1 - Getty Realty reported quarterly funds from operations (FFO) of $0.62 per share, exceeding the Zacks Consensus Estimate of $0.61 per share, and up from $0.59 per share a year ago, representing an FFO surprise of +1.64% [1] - The company posted revenues of $55.16 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 3.00%, compared to year-ago revenues of $50.49 million [2] - Over the last four quarters, Getty Realty has surpassed consensus FFO estimates two times and topped consensus revenue estimates three times [2] 分组2 - The stock has underperformed the market, losing about 8.7% since the beginning of the year, while the S&P 500 has gained 14.5% [3] - The current consensus FFO estimate for the coming quarter is $0.61 on revenues of $54.11 million, and for the current fiscal year, it is $2.41 on revenues of $212.1 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the top 31% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - Getty Realty Corp. reported net earnings of $23.3 million for Q3 2025, an increase from $15.3 million in Q3 2024, resulting in net earnings per share of $0.40, up from $0.27[5]. - Funds From Operations (FFO) for Q3 2025 were $38.7 million, or $0.66 per share, compared to $31.4 million, or $0.56 per share in Q3 2024[6]. - Adjusted Funds From Operations (AFFO) increased to $36.1 million, or $0.62 per share, from $33.2 million, or $0.59 per share year-over-year[6]. - Revenues from rental properties increased to $55,159,000 for the three months ended September 30, 2025, compared to $50,494,000 for the same period in 2024, representing a growth of 3.3%[42]. - Total revenues for the nine months ended September 30, 2025, reached $161,178,000, up from $150,375,000 in 2024, indicating an increase of 7.9%[42]. - Net earnings for the three months ended September 30, 2025, were $23,348,000, compared to $15,335,000 in 2024, reflecting a significant increase of 52.3%[42]. - Basic net earnings per common share rose to $0.40 for the three months ended September 30, 2025, compared to $0.27 in 2024, marking an increase of 48.1%[42]. - Net earnings for Q3 2025 were $23.35 million, up from $15.34 million in Q3 2024, representing a 52.5% increase[44]. - Funds from operations (FFO) increased to $38.70 million in Q3 2025 from $31.44 million in Q3 2024, a growth of 23.1%[44]. - Adjusted Funds from operations (AFFO) rose to $36.10 million in Q3 2025 compared to $33.16 million in Q3 2024, marking an increase of 8.8%[44]. - Basic net earnings per share for Q3 2025 were $0.40, up from $0.27 in Q3 2024, reflecting a 48.1% increase[44]. Investment Activity - The company completed $237 million in investment activity year-to-date, with a committed investment pipeline exceeding $75 million for the acquisition and development of 22 properties[3][16]. - The company invested $56.3 million in Q3 2025 at an 8.0% initial cash yield, with an additional $103.4 million invested post-quarter at a 7.8% yield[15]. Portfolio and Assets - Getty Realty's portfolio included 1,160 properties across 44 states and Washington, D.C., as of September 30, 2025[28]. - The company's total assets as of September 30, 2025, amounted to $2,055,875,000, an increase from $1,973,680,000 as of December 31, 2024, representing a growth of 4.2%[40]. - Total liabilities increased to $1,043,518,000 as of September 30, 2025, compared to $1,011,597,000 at the end of 2024, reflecting a rise of 3.1%[40]. - The company reported a total stockholders' equity of $1,012,357,000 as of September 30, 2025, up from $962,083,000 at the end of 2024, indicating an increase of 5.2%[40]. Guidance and Future Outlook - The company increased its 2025 AFFO guidance to a range of $2.42 to $2.43 per diluted share, up from the previous range of $2.40 to $2.41[23]. - Forward-looking statements include guidance for 2024 AFFO per share, reflecting management's expectations and assumptions[36]. Dispositions and Adjustments - The company sold one property for $1.8 million in Q3 2025, recording a gain of $0.3 million, and six properties for $5.5 million year-to-date with a total gain of $2.2 million[19]. - The company reported a gain on dispositions of real estate of $338,000 for the three months ended September 30, 2025, compared to a loss of $1,471,000 in 2024[42]. - The company reported a total revenue recognition adjustment of $(1.22 million) for Q3 2025, compared to $(0.22 million) in Q3 2024[44]. - Environmental adjustments resulted in a total of $(3.53 million) for Q3 2025, compared to $0.02 million in Q3 2024[44]. - The company recorded impairments of $0.65 million in Q3 2025, slightly down from $0.68 million in Q3 2024[44]. Operational Performance - The company emphasizes the importance of AFFO as a measure of core operating performance, which excludes various non-recurring items[35]. - The weighted average common shares outstanding increased to 56,693 in Q3 2025 from 54,249 in Q3 2024[44]. - Total revenue for the nine months ended September 30, 2025, was $52.15 million, compared to $48.77 million for the same period in 2024, an increase of 6.1%[44].

Core Insights - Getty Realty Corp. reported a strong third quarter performance, reflecting effective execution of its investment strategy and stable rental income from convenience and automotive retail tenants [4][2] - The company has increased its earnings guidance for the full year 2025, indicating confidence in continued growth and value creation for shareholders [4][24] Financial Performance - For the three months ended September 30, 2025, net earnings were $23.3 million, or $0.40 per share, compared to $15.3 million, or $0.27 per share for the same period in 2024, representing a 52.5% increase in net earnings [6][41] - Funds From Operations (FFO) for the third quarter were $38.7 million, or $0.66 per share, up from $31.4 million, or $0.56 per share in the prior year [6][41] - Adjusted Funds From Operations (AFFO) increased to $36.1 million, or $0.62 per share, compared to $33.2 million, or $0.59 per share in the same quarter of 2024 [6][41] Revenue and Income - Rental income for the third quarter was $53.5 million, an increase of 12.3% from $47.6 million in the same quarter of 2024 [7][9] - Total revenues for the quarter reached $55.6 million, compared to $51.5 million in the prior year, marking a 7.9% increase [41] Investment Activity - Year-to-date, the company has completed $237 million in investment activity, with an initial cash yield of 7.9% [4][16] - The company has a committed investment pipeline exceeding $75 million for the development and acquisition of 22 properties, expected to be funded over the next 9-12 months [17][4] Portfolio and Property Management - As of September 30, 2025, Getty Realty's portfolio included 1,160 properties across 44 states and Washington, D.C. [29] - The company sold one property for $1.8 million during the quarter, with a gain of $0.3 million, and six properties for $5.5 million year-to-date, recording a total gain of $2.2 million [19][20] Balance Sheet and Capital Markets - As of September 30, 2025, total outstanding indebtedness was $940 million, with $750 million in senior unsecured notes at a weighted average interest rate of 4.1% [20][21] - The company raised approximately $32.5 million from the settlement of 1.2 million shares of common stock during the quarter [22][23] Guidance - The company has raised its 2025 AFFO guidance to a range of $2.42 to $2.43 per diluted share, up from the previous range of $2.40 to $2.41 [24]

Core Insights - Getty Realty Corp. has completed a sale leaseback transaction acquiring 12 convenience stores for $100 million, entering into a long-term net lease with Now & Forever [1][2] - The company has invested approximately $233 million year-to-date in convenience and automotive retail assets, achieving a 7.9% initial cash yield [3] Investment Activity - The acquired convenience stores are strategically located in high-income submarkets of Houston, TX, averaging over 8,000 square feet and offering made-to-order food options [2] - The lease agreement has an initial term of 15 years with multiple renewal options and rent increases every five years [2] Company Overview - Getty Realty Corp. is a publicly traded net lease REIT focused on convenience, automotive, and single-tenant retail real estate, with a portfolio of 1,137 properties across 44 states and Washington, D.C. as of June 30, 2025 [4]

Group 1 - The analyst has over 10 years of experience researching companies across various sectors, including commodities and technology [1] - The analyst has researched more than 1000 companies, focusing on metals and mining stocks, as well as other industries like consumer discretionary, REITs, and utilities [1] - The analyst transitioned from writing a blog to creating a value investing-focused YouTube channel, where extensive research on numerous companies has been conducted [1]

Group 1 - The analyst has over 10 years of experience researching more than 1000 companies across various sectors including commodities and technology [1] - The focus has shifted from writing a blog to creating a value investing-focused YouTube channel, covering hundreds of companies [1] - The analyst expresses a particular interest in metals and mining stocks, while also being comfortable with consumer discretionary, REITs, and utilities [1]

Group 1 - The article emphasizes the importance of discussing retirement investments, suggesting that it is a relevant topic despite some skepticism about retirement itself [1] - It highlights the availability of in-depth research on various investment vehicles such as REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs, indicating a comprehensive approach to income alternatives [1] Group 2 - The article includes a disclaimer about the lack of stock or derivative positions in the companies mentioned, reinforcing the independence of the analysis [2] - It notes that past performance does not guarantee future results, which is a standard caution in investment discussions [2]

Core Viewpoint - Getty Realty Corp. is set to release its financial results for Q3 2025 on October 22, 2025, after market close [1] Financial Results Announcement - The financial results for the third quarter ended September 30, 2025, will be disclosed after market hours on October 22, 2025 [1] Conference Call Details - A conference call and webcast will be held on October 23, 2025, at 8:30 a.m. EDT for discussing the financial results [2] - Participants can join the call by dialing 1-877-423-9813 or 1-201-689-8573 for international calls, ten minutes prior to the start [2] - The call will also be accessible via live webcast on the company's investor relations website [2] Replay Information - A replay of the conference call will be available starting October 23, 2025, at 11:30 a.m. EDT until November 6, 2025, at 11:59 p.m. EDT [3] - To access the replay, participants can dial 1-844-512-2921 or 1-412-317-6671 for international calls, using pass code 13755957 [3] Company Overview - Getty Realty Corp. is a publicly traded net lease REIT focused on convenience and automotive retail real estate [4] - As of June 30, 2025, the company’s portfolio consists of 1,137 freestanding properties across 44 states and Washington, D.C. [4]