The real estate sector experienced disparity in 2024, whereby homebuilder stocks grew but REITs lagged . We think 2024's surge in homebuilder stocks might be followed by an increase in REIT values, and therefore we decided to cover another REIT in thisAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not rec ...

- Invested More Than $200 Million in Convenience and Automotive Retail Assets - - Introduces 2025 Earnings Guidance - NEW YORK, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”), a net lease REIT focused on convenience and automotive retail real estate, today provided an update on the Company’s fourth quarter and full year 2024 investment and capital markets activities. The Company also provided its initial full year 2025 earnings guidance. 2024 Highlights Invested ...

Steven Cress is VP of Quantitative Strategy and Market Data at Seeking Alpha. Steve is also the creator of the platform’s quantitative stock rating system and many of the analytical tools on Seeking Alpha. His contributions form the cornerstone of the Seeking Alpha Quant Rating system, designed to interpret data for investors and offer insights on investment directions, thereby saving valuable time for users. He is also the Founder and Co-Manager of Alpha Picks, a systematic stock recommendation tool design ...

NEW YORK, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE:GTY) will release its financial results for the fourth quarter ended December 31, 2024, after the market closes on Wednesday, February 12, 2025. Getty Realty Corp. will host a conference call and webcast on Thursday, February 13, 2025, at 8:30 a.m. EST. To participate in the call, please dial 1-877-423-9813, or 1-201-689-8573 for international participants, ten minutes before the scheduled start. Participants may also access the call via l ...

NEW YORK, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”) announced today the closing of its previously disclosed private placement of $125 million of senior unsecured notes, including (i) $50 million of notes priced at a fixed rate of 5.52% and maturing September 12, 2029 and (ii) $75 million of notes priced at a fixed rate of 5.70% and maturing February 22, 2032. The senior unsecured notes will fund on February 25, 2025 and proceeds will be used to repay in full ...

Shares of Getty Realty (NYSE: GTY ) have been a solid performer over the past year, gaining 23% on top of its 5+% dividend yield. Most of this rally has occurred over the past three months as investors began expecting a larger Federal Over fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know! A ...

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 September 30, 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) Maryland - 11-3412575 (State or Other Juris ...

Financial Data and Key Metrics Changes - The company reported an AFFO per share of $0.59 for Q3 2024, representing a 3.5% increase over Q3 2023 [24] - Year-to-date, AFFO per share was $1.74, up 3.6% compared to the prior year period [24] - Annualized base rent (ABR) as of September 30, 2024, was $190 million, an increase of 13.1% over the $168 million reported as of September 30, 2023 [25] - The company raised its full year 2024 AFFO per share guidance to a range of $2.32 to $2.33 from a previous range of $2.30 to $2.32 [30] Business Line Data and Key Metrics Changes - The company invested approximately $148 million year-to-date at an 8% initial cash yield, with more than 90% of investments being direct with tenants [9] - During Q3, Getty invested $30.2 million across 16 properties at an initial cash yield of 8% [18] - The weighted average lease term on acquired assets was 18.4 years [18] - The company extended two significant unitary leases, representing 11% of ABR, contributing to an increase in the weighted average lease term to more than 10 years [12][23] Market Data and Key Metrics Changes - The portfolio included 1,104 net lease properties with an occupancy rate of 99.7% [17] - 59% of annualized base rent came from the top 50 MSAs, and 75% from the top 100 MSAs [17] - The trailing 12-month rent coverage ratio was 2.6x, consistent over the last four to five years [17] Company Strategy and Development Direction - The company is focused on growing, diversifying, and actively managing its portfolio of convenience and automotive retail assets [8] - The investment strategy includes direct transactions and sale-leaseback models, which allow for cultivating tenant relationships and underwriting site-level performance [10] - The company anticipates additional demand for automotive service uses, aligning with its geographic footprint and legacy locations [12] Management's Comments on Operating Environment and Future Outlook - Management noted lingering uncertainty regarding the economy and upcoming elections but expressed confidence in the company's ability to create value for shareholders [13] - The company highlighted a strong balance sheet with moderate leverage and significant liquidity, positioning it well for future growth [14] - Management acknowledged increased interest in the convenience and automotive retail sectors but emphasized their expertise and established relationships as competitive advantages [34] Other Important Information - The company raised more than $245 million in common equity and unsecured debt during the quarter [12] - The Board approved a 4.4% increase in the recurring quarterly dividend to $0.47 per share, marking the 11th consecutive year of dividend growth [14][15] - The company has more than $495 million of available capital, ensuring sufficient funds for ongoing and future investments [29] Q&A Session Summary Question: Current transaction market conditions - Management indicated that while sellers believe cap rates should decline, they have not seen significant movement in their pipeline [32][33] Question: Competition in convenience and auto services sectors - Management acknowledged increased interest from investors but emphasized their long-standing expertise and ability to transact effectively [34][35] Question: Details on the sale of properties to Global - Management explained that the transaction involved legacy sites that were deemed better suited for Global to own, resulting in a beneficial outcome for both parties [37][38] Question: Performance of auto tenants amid consumer pullback - Management reported stable coverage ratios and noted that certain sectors, like newer car wash assets, are performing positively [40] Question: Confidence in sourcing transactions despite market volatility - Management expressed confidence in their ability to execute transactions based on a steady investment volume and favorable capital raising conditions [41] Question: Bid-ask spread and cap rate expectations - Management acknowledged the persistence of bid-ask spreads but remained confident in identifying opportunities that meet their underwriting criteria [44] Question: Focus on portfolios versus sale-leaseback transactions - Management clarified that they prefer to acquire portfolios of properties through sale-leaseback transactions, which offer structural advantages [48]

Getty Realty (GTY) came out with quarterly funds from operations (FFO) of $0.59 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to FFO of $0.57 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 1.72%. 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 $0.58, delivering a surprise of 1.75%.Over the last four quarters ...

Exhibit 99.1 FOR IMMEDIATE RELEASE GETTY REALTY CORP. ANNOUNCES THIRD QUARTER 2024 RESULTS - Reports $147.6 Million of Year-to-Date Investment Activity - - Raises 2024 Full Year Earnings Guidance - NEW YORK, NY, October 23, 2024 — Getty Realty Corp. (NYSE: GTY) ("Getty" or the "Company"), a net lease REIT focused on convenience and automotive retail real estate, announced today its financial and operating results for the quarter ended September 30, 2024. Third Quarter 2024 Highlights • Net earnings: $0.27 p ...