Getty Realty (GTY)

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Getty Realty (GTY) - 2021 Q4 - Earnings Call Presentation
2022-02-24 09:13
C O N V E N I E N C E A U T O M O T I V E R E T A I L CORPORATE PROFILE FEBRUARY 2022 SAFE HARBOR STATEMENT Forward Looking Statements Certain statements in this presentation constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are statements that relate to management's expectations or beliefs, future plans and strategies, future financial performance and similar expressions concerning matters that are not historical facts. In some cases, forw ...
Getty Realty (GTY) - 2021 Q3 - Earnings Call Presentation
2021-11-01 12:35
C ONVENIENCE A UTOMOTIVE R ETAIL CORPORATE PROFILE Q3 2021 SAFE HARBOR STATEMENT Certain statements in this presentation constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are statements that relate to management's expectations or beliefs, future plans and strategies, future financial performance and similar expressions concerning matters that are not historical facts. In some cases, forward-looking statements can be identified by the use of ...
Getty Realty (GTY) - 2021 Q3 - Earnings Call Transcript
2021-10-28 18:31
Getty Realty Corp. (NYSE:GTY) Q3 2021 Earnings Conference Call October 28, 2021 8:30 AM ET Company Participants Joshua Dicker - Executive Vice President, General Counsel and Secretary Christopher Constant - Chief Executive Officer Mark Olear - Chief Operating Officer Brian Dickman - Chief Financial Officer and Treasurer Conference Call Participants Brad Heffern - RBC Capital Markets Todd Thomas - KeyBanc Capital Markets John Massocca - Ladenburg Thalmann & Co. Wes Golladay - Robert W. Baird Operator Good mo ...
Getty Realty (GTY) - 2021 Q2 - Earnings Call Transcript
2021-07-29 18:57
Getty Realty Corp. (NYSE:GTY) Q2 2021 Earnings Conference Call July 29, 2021 8:30 AM ET Company Participants Joshua Dicker - Executive Vice President Christopher Constant - Chief Executive Officer Mark Olear - Chief Operating Officer Brian Dickman - Chief Financial Officer Conference Call Participants Todd Thomas - KeyBanc John Massocca - Ladenburg Thalmann Joshua Dennerlein - Bank of America Operator Good morning, and welcome to Getty Realty’s Earnings Conference Call for the Second Quarter of 2021. This c ...
Getty Realty (GTY) - 2021 Q2 - Earnings Call Presentation
2021-07-29 14:58
C O N V E N I E N C E A U T O M O T I V E R E T A I L CORPORATE PROFILE Q2 2021 SAFE HARBOR STATEMENT Certain statements in this presentation constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are statements that relate to management's expectations or beliefs, future plans and strategies, future financial performance and similar expressions concerning matters that are not historical facts. In some cases, forward-looking statements can be ide ...
Getty Realty (GTY) Presents At NAREITweek 2021 Investor Virtual Conference - Slideshow
2021-06-18 22:34
C O N V E N I E N C E A U T O M O T I V E R E T A I L CORPORATE PROFILE JUNE 2021 SAFE HARBOR STATEMENT Certain statements in this presentation constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are statements that relate to management's expectations or beliefs, future plans and strategies, future financial performance and similar expressions concerning matters that are not historical facts. In some cases, forward-looking statements can be i ...
Getty Realty (GTY) - 2021 Q1 - Earnings Call Transcript
2021-05-01 06:03
Getty Realty Corp. (NYSE:GTY) Q1 2021 Earnings Conference Call April 29, 2021 8:30 AM ET Company Participants Joshua Dicker – Executive Vice President Christopher Constant – Chief Executive Officer Mark Olear – Chief Operating Officer Brian Dickman – Chief Financial Officer Conference Call Participants Michael Gorman – BTIG Todd Thomas – KeyBanc Nikita Bely – JPMorgan Operator Good morning, and welcome to Getty Realty’s Earnings Conference Call for the First Quarter of 2021. [Operator Instructions] After th ...
Getty Realty (GTY) - 2020 Q4 - Earnings Call Presentation
2021-02-25 18:24
Company Overview - Getty Realty specializes in convenience & gas and other automotive properties, with an enterprise value of $1.7 billion [5] - The company has a diversified national net lease portfolio with 959 properties across 35 states, with 65% of ABR in the Top 50 MSAs [8] - The portfolio boasts a 9.5 years weighted average lease term and 71% on corner locations [8] Financial Performance - The company received 98% of contractual base rent and mortgage payments for the full year 2020 [7] - The company's unitary lease portfolio has weighted average rent escalations of 1.6% and rental coverage of 2.6x [6, 17] - The company has a Net Debt to EBITDA ratio of 4.9x and a Fixed Charge Coverage of 3.7x [6] - The company has shown consistent dividend growth with an 8.1% compounded annual growth rate [39] Growth Strategy - The company focuses on organic growth with 1% to 2% contractual annual rent increases [23] - The company has acquired 462 properties for $1.1 billion over the past ten years [25] - The company invested $14.4 million in 19 completed redevelopments with an aggregate yield of 16% [28]
Getty Realty (GTY) - 2020 Q4 - Earnings Call Transcript
2021-02-24 20:02
Getty Realty Corp. (NYSE:GTY) Q4 2020 Results Conference Call February 24, 2021 8:30 AM ET Company Participants Joshua Dicker - EVP, General Counsel, and Secretary Christopher Constant - CEO Mark Olear - COO Brian Dickman - Incoming CFO Conference Call Participants Anthony Paolone - JP Morgan Todd Thomas - KeyBanc Capital Markets John Massocca - Ladenburg Thalmann Josh Dennerlein - Bank of America Operator Good morning, everyone, and welcome to Getty Realty's Earnings Conference Call for the Fourth Quarter ...
Getty Realty (GTY) - 2020 Q3 - Earnings Call Transcript
2020-10-22 15:19
Financial Data and Key Metrics Changes - Total revenues for Q3 2020 increased by 4% to $37.9 million compared to the prior year's quarter [33] - Rental income grew by 5.3% to $31.9 million, driven by rent escalators and additional rent from acquisitions and redevelopment projects [33] - AFFO per share increased by 9% to $0.47, up from $0.43 in the prior year [34] Business Line Data and Key Metrics Changes - The company collected 98% of rent and mortgage payments during Q3 2020, with collections improving over the quarter [12] - The convenience store and gas station segments performed well, with many tenants reporting results slightly ahead of the previous year's performance [15] - The company acquired 32 properties for approximately $140 million year-to-date, contributing to earnings growth [10] Market Data and Key Metrics Changes - Fuel volumes have recovered to a decline of 17% year-over-year, compared to a 50% decline at the pandemic's peak [14] - Fuel margins remain elevated compared to 2019, indicating operators are making more money per gallon sold [14] Company Strategy and Development Direction - The company aims to continue its targeted investment strategy focusing on convenience and automotive sectors, which are largely internet-resistant [19] - Getty Realty is committed to an active approach in managing its portfolio, expanding through acquisitions, and selective redevelopment projects [19] - The company plans to optimize its portfolio and anticipates redevelopment opportunities involving 5% to 10% of its current portfolio over the next five years [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the uncertain environment and continue executing strategic objectives [18] - The company withdrew its 2020 AFFO per share guidance due to ongoing uncertainty related to COVID-19 [37] - Management noted that while the operating environment remains stressed, most properties and tenants have performed well [14] Other Important Information - The company ended Q3 2020 with $58 million in cash and $190 million available on its revolving credit facility [16] - The Board approved a 5.4% increase in the quarterly dividend to $0.39 per share, marking the seventh consecutive year of dividend increases [16] - Danion Fielding, the CFO, announced his departure for personal reasons, with a search for a successor underway [20] Q&A Session Summary Question: Changes in acquisition pricing post-COVID - Management indicated that there hasn't been much change in cap rates for acquisitions, and the sector has performed well [45] Question: Acquisition pipeline and expected closings - Management stated that the team is actively underwriting opportunities and feels confident in continuing to acquire attractive assets [46] Question: Update on February debt maturity - Management is in the process of refinancing the upcoming debt maturity and expects it to be a positive event for the company [48] Question: Cap rate spread between C-stores and car washes - Management noted that pricing is fairly consistent between C-stores and other automotive assets, with only small variations [53] Question: Impact of environmental obligations on balance sheet - Management clarified that remediation obligations are separate from environmental litigation matters, and they are working to resolve legacy issues [56] Question: Rent coverage and tenant profits - Management reported a strong rent coverage of 2.7, with many tenants experiencing stable margins despite volume reductions [62] Question: Deal flow and competition - Management indicated that deal flow has been consistent, with strong competition from institutional investors and the 1031 market [65]