Core Insights - Getty Realty Corp. reported strong investment and operating results for Q4 and the full year 2024, achieving a 4.0% increase in AFFO per share [3][31] - The company deployed nearly $210 million in investments across various property types and raised approximately $290 million in capital markets during 2024 [3][22] - Looking ahead, Getty Realty is positioned with nearly $240 million of committed equity and debt capital available for acquisitions [3][22] Financial Performance - For Q4 2024, net earnings were $22.3 million, or $0.39 per share, compared to $16.5 million, or $0.30 per share in Q4 2023 [5][49] - Full year 2024 net earnings reached $71.1 million, or $1.25 per share, up from $60.2 million, or $1.15 per share in 2023 [5][49] - Funds From Operations (FFO) for Q4 2024 were $32.5 million, or $0.57 per share, compared to $27.4 million, or $0.51 per share in Q4 2023 [5][50] - Adjusted Funds From Operations (AFFO) for Q4 2024 were $34.0 million, or $0.60 per share, compared to $30.7 million, or $0.57 per share in Q4 2023 [5][50] Revenue Growth - Rental income for Q4 2024 increased by 14.6% to $50.1 million, compared to $41.1 million in Q4 2023 [7][8] - For the full year 2024, rental income grew by 14.3% to $187.8 million, up from $161.0 million in 2023 [7][8] - The growth in rental income was driven by new acquisitions, contractual rent increases, and completed redevelopments [8] Investment Activities - In Q4 2024, the company invested $76.4 million across 21 properties at an initial cash yield of 8.9% [15] - For the full year 2024, Getty Realty invested $209.0 million across 78 properties at an initial cash yield of 8.3% [15] - The company has a committed investment pipeline of over $35.0 million for the development and acquisition of additional properties [16] Capital Structure - As of December 31, 2024, Getty Realty had total outstanding indebtedness of $907.5 million, including $675.0 million in senior unsecured notes [22] - The company had $9.5 million in available cash and $7.4 million in 1031 disposition proceeds in escrow [23] - In November 2024, Getty Realty closed a private placement of $125 million in unsecured notes to fund general corporate purposes [26][27] 2025 Guidance - The company adjusted its 2025 AFFO guidance to a range of $2.38 to $2.41 per diluted share, down from the initial guidance of $2.40 to $2.42 per share [31]

Core Points - Getty Realty Corp. declared a cash dividend of $0.47 per common share, payable on April 10, 2025, to shareholders of record on March 27, 2025 [1] Company Overview - Getty Realty Corp. is a publicly traded net lease REIT that specializes in the acquisition, financing, and development of convenience, automotive, and other single-tenant retail real estate [2] - As of December 31, 2024, the company's portfolio consisted of 1,118 freestanding properties located in 42 states across the United States and Washington, D.C. [2]

Core Viewpoint - The article emphasizes the importance of understanding the context and implications of investment decisions, highlighting that past performance does not guarantee future results [3]. Group 1 - The article clarifies that the opinions expressed are for general discussion and do not constitute investment advice [2]. - It notes that the author has no financial interest in the companies mentioned, ensuring objectivity in the analysis [1]. - The article indicates that Seeking Alpha's analysts may include both professional and individual investors, which could affect the perspectives presented [3].

– Repays Outstanding Term Loan and Extends Maturity to 2029 –– Company Has No Debt Maturities Until June 2028 – NEW YORK, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”), a net lease REIT focused on convenience and automotive retail real estate, announced today that it has entered into a Third Amended and Restated Credit Agreement with a group of existing and new lenders that increases its senior unsecured revolving credit facility (the “Credit Facility”) to $450 ...

NEW YORK, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) announced today the allocations of the Company’s 2024 dividend distributions on its common stock (CUSIP #374297109). The allocations as they will be reported on Form 1099-DIV are as follows: Ordinary Income Capital Gains <td colspan= ...

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 ...

Core Insights - Getty Realty Corp. has invested over $200 million in convenience and automotive retail assets in 2024, achieving an initial cash yield of 8.3% [5][10] - The company has provided its initial earnings guidance for 2025, projecting an Adjusted Funds From Operations (AFFO) range of $2.40 to $2.42 per diluted share [15] Investment Activities - In 2024, the company invested approximately $209 million in various retail assets, including 31 express tunnel car washes, 19 auto service centers, 17 convenience stores, and four drive-thru quick service restaurants [5][10] - For Q4 2024, the company invested around $76 million in similar assets, achieving an 8.9% initial cash yield [6][10] - As of December 31, 2024, the company has a committed investment pipeline exceeding $29 million for the development and acquisition of 15 retail assets [7] Capital Markets Activities - The company raised approximately $289 million in new equity and debt capital in 2024, including $125 million from senior unsecured notes [10][13] - In 2024, the company raised about $164 million through the sale of common shares, including $121 million from a follow-on public offering [11] - The senior unsecured notes will be used to repay existing debt and for general corporate purposes, including funding investment activities [14] Portfolio Overview - As of December 31, 2024, Getty Realty's portfolio consisted of 1,118 freestanding properties across 42 states and Washington, D.C. [17] - The company had four properties under active redevelopment and others in various stages of feasibility planning [8] Dispositions - In 2024, the company sold 31 properties for gross proceeds of approximately $13 million, with $8 million generated in Q4 alone [9]

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, 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 ...

Core Insights - Getty Realty (NYSE: GTY) has shown strong performance over the past year, with a 23% increase in share price alongside a dividend yield exceeding 5% [1] - The majority of this price rally has occurred in the last three months, driven by investor expectations of a larger Federal intervention [1] Company Performance - The stock has gained 23% over the past year, indicating robust investor confidence and market performance [1] - The dividend yield of over 5% adds to the attractiveness of the stock for income-focused investors [1] Market Sentiment - Recent investor sentiment has shifted positively, particularly in the last three months, as expectations for Federal actions have increased [1]