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].

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 March 31, 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) (State or Other Jurisdiction of Incorporation o ...

Getty Realty (GTY) came out with quarterly funds from operations (FFO) of $0.57 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.56 per share a year ago. These figures are adjusted for non-recurring items.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 $0.57, delivering no surprise.Over the last four quarters, the company has surpassed consensus FFO estimates just once.Getty Realty, which ...

Exhibit 99.1 FOR IMMEDIATE RELEASE NEW YORK, NY, April 25, 2024 — Getty Realty Corp. (NYSE: GTY) ("Getty" or the "Company") announced today its financial and operating results for the quarter ended March 31, 2024. First Quarter 2024 Highlights "We are pleased with the Company's performance for the first quarter. Our healthy in-place portfolio delivered another quarter of consistent results, and we continued to execute on our strategic objectives to grow and diversify our portfolio through accretive acquisit ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER 001-13777 GETTY REALTY CORP. (Exact name of registrant as specified in its charter) Maryland 11-3412575 (State or other jurisdiction of incorporation or organization) (I.R.S. employe ...

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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of Principal Executive Offices) (Zip Code) (646) 349-6000 (Registrant's Telephone Number, Including Area Code) For the transition period from to Commission file number: 001-137 ...

Getty Realty Corp (NYSE:GTY) Q3 2023 Earnings Conference Call October 26, 2023 8:30 AM ET Company Participants Joshua Dicker - Executive Vice President, General Counsel and Secretary Christopher Constant - President and Chief Executive Officer Mark Olear - Executive Vice President and Chief Operating Officer Brian Dickman - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Wes Golladay - Robert W. Baird Akhil Nagulapalli - J P Morgan Operator Good morning, and welc ...

CORPORATE PROFILE SAFE HARBOR STATEMENTS While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. Unknown or unpredictable factors could have material adverse effects on our business, financial condition, liquidity, results of operations and prospects. Except as required under the federal securities laws and the rules and regulations of the SEC, the Company does not undertake any obligation to release publicly any ...

COVERAGE FIXED CHARGE 4.2x 3.9% WTD. AVG. DEBT COST WTD. AVG. DEBT MATURITY 7.0 years 600 1200 1800 2400 $1,712 Unsecured Notes Common Equity $2,387 million $675 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 0 Unsecured Notes $50 $100 $125 $175 0 50 100 150 200 $100 $125 SUMMARY CAPITAL STRUCTURE DEBT MATURITY SCHEDULE ($M) Note: All data as of June 30, 2023, except Debt to Total Capitalization and Summary Capital Structure based on market value of common equity as of July 24, 2023. 22 CORPORATE RE ...

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Washington, D.C. 20549 UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended June 30, 2023 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) (State or Other Jurisdiction of Incorporation or ...