Getty Realty Corp. Announces Fourth Quarter and Full Year 2025 Results

Core Insights - Getty Realty Corp. reported strong financial performance for the fourth quarter and full year of 2025, highlighting a disciplined investment strategy and consistent earnings growth [4][28] - The company deployed $269 million in investments at a yield of 7.9%, indicating effective transaction sourcing and closing [4][16] - With over $500 million in liquidity and a robust investment pipeline, Getty Realty is positioned for continued growth in 2026 [4][18] Fourth Quarter 2025 Highlights - Net earnings for Q4 2025 were $27.0 million, or $0.45 per share, compared to $22.3 million, or $0.39 per share in Q4 2024, reflecting a 21.5% increase in net earnings [6][48] - Funds From Operations (FFO) for Q4 2025 were $38.0 million, or $0.64 per share, up from $32.5 million, or $0.57 per share in Q4 2024 [6][48] - Adjusted Funds From Operations (AFFO) for Q4 2025 were $37.6 million, or $0.63 per share, compared to $34.0 million, or $0.60 per share in Q4 2024 [6][48] Full Year 2025 Highlights - For the full year 2025, net earnings reached $79.2 million, or $1.35 per share, compared to $71.1 million, or $1.25 per share in 2024, marking an increase of 11.6% [6][48] - Total revenues from rental properties for 2025 were $219.6 million, up from $198.7 million in 2024, representing a growth of 10.5% [9][48] - Base rental income for 2025 grew 11.6% to $206.5 million, driven by new acquisitions and contractual rent increases [10] Investment Activities - In Q4 2025, the company invested $135.4 million at a 7.9% initial cash yield, while for the full year, it invested $268.8 million at the same yield [16][22] - The company has a committed investment pipeline of approximately $100 million for the development and acquisition of 36 properties, expected to be funded over the next 3-12 months [18] Balance Sheet and Capital Markets - As of December 31, 2025, Getty Realty had total outstanding indebtedness of $1.0 billion, with $750 million in senior unsecured notes at a weighted average interest rate of 4.1% [23][25] - The company closed a private placement of $250 million in senior unsecured notes at a fixed rate of 5.76% in November 2025 [24] - Getty Realty settled approximately 2.1 million shares of common stock for net proceeds of approximately $59.2 million during Q4 2025 [26] 2025 Guidance - The company reaffirms its 2026 AFFO guidance of $2.48 to $2.50 per diluted share, based on current assumptions and completed transaction activity [28]