UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ 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 or Organization) FORM 10-Q incl (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period end ...

Financial Data and Key Metrics Changes - The company reported a 15% year-over-year increase in annualized base rent (ABR), reaching $185 million compared to $160 million in the previous year [12][34] - Adjusted funds from operations (AFFO) per share increased by 3.6% year-over-year to $0.58 for Q2 2024, with a six-month period AFFO per share of $1.15, up 2.7% compared to the prior year [12][39] - The company raised its full-year 2024 AFFO guidance to a range of $2.30 to $2.32 per share, implying growth at the midpoint of 2.7% over 2023 [39] Business Line Data and Key Metrics Changes - The company completed nearly $62 million of investments in Q2 2024 across 23 properties, focusing on convenience stores, express tunnel car washes, auto service centers, and drive-thru quick service restaurants [13][24] - The investment activity for the year-to-date totaled $103.8 million at an initial cash yield of 7.9%, with an aggregate initial yield on Q2 investments at 8.1% [25][39] Market Data and Key Metrics Changes - The convenience store industry saw total inside store sales grow more than 8% to a record $328 billion, with foodservice sales gross profit averaging over 10% [16] - The car wash sector demonstrated resilience, with coverage ratios increasing for nearly all tenants operating for at least one year, driven by unlimited wash memberships [18] Company Strategy and Development Direction - The company aims to create value for shareholders through a targeted investment strategy, leveraging industry relationships and strict underwriting criteria [15] - The investment pipeline includes over $53 million of assets under contract at a blended cap rate approaching the mid-8% area, with ongoing efforts to source new investment opportunities [14][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges in the transaction and capital markets, citing a strong balance sheet and reliable rental income [19][21] - There is considerable uncertainty regarding interest rates and geopolitical factors, but the company remains well-positioned to execute its growth strategy [20][21] Other Important Information - The company's lease portfolio included 119 net lease properties with an occupancy rate of 99.7% and a weighted average lease term of 9.2 years [23] - The trailing 12-month tenant rent coverage ratio was 2.6 times, indicating strong tenant performance despite macroeconomic volatility [23] Q&A Session Summary Question: What is the pricing landscape across investment segments? - The pipeline is well distributed across all asset classes, with quick service restaurants at the lower end of the pricing range [50] Question: Is there increased competition in the investment space? - The competitive landscape has remained stable, with challenges in sourcing opportunities aligning with the company's value perspective [51] Question: How do current deal spreads compare to historical norms? - Closed deals are around a 100 basis point spread, with assets under contract wider than that, reflecting recent market dynamics [55] Question: What is the company's approach to funding mix? - The company maintains a 65-35 equity-to-debt capital funding model and does not anticipate significant changes [60] Question: Are there any tenant credit concerns? - There are no notable credit concerns within the portfolio, with a consistent tenant rent coverage ratio [91][92]

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, ...

pictafolio Introduction GTY's Investor Presentation Entity Reference rationale NTST Triple net lease REIT that targets retail/service-oriented properties. It has 628 investments. EPRT Triple net lease REIT that targets retail/service-oriented properties. It owns 1937 properties. ADC Triple net lease REIT that targets retail/service-oriented properties. It owns 2161 properties. NNN Triple net lease REIT that targets retail/service-oriented properties. It owns 3546 properties. Without further ado, let's revie ...

NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) announced today that it has published its 2024 Corporate Responsibility Report highlighting the Company's environmental, social and governance ("ESG") policies and practices. Getty engaged Antea® Group, an Environment, Health, Safety, and Sustainability consulting firm, to assist with the report which was prepared with consideration of the frameworks established by the Sustainability Accounting Standards Board (SASB) and the Task For ...

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].