Profile
Sector:
Real EstateIndustry:
RetailCountry:
United StatesIPO:
03 May 1973Website:
http://www.gettyrealty.comNext earnings report:
14 February 2025Last dividends:
26 September 2024Next dividends:
26 December 2024Price
after hours | Fri, 01 Nov 2024 21:39:15 GMTAnalysts recommendations
Institutional Ownership
GTY Latest News
Getty Realty has gained 23% in the past year, driven by expectations of Federal Reserve rate cuts, and offers a 5.8% dividend yield. The company's stable business model, with 99.7% occupancy and strong tenant credit profiles, ensures consistent cash flow and minimal delinquency risk. Getty's long-term leases with automatic escalators and a solid balance sheet support its acquisitive growth strategy, yielding 8% on new deals.
Getty Realty Corp. (NYSE:GTY ) Q3 2024 Earnings Conference Call October 24, 2024 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 Farrell Granath - Bank of America Mitch Germain - Citizens JMP Securities Upal Rana - KeyBanc Capital Markets Wesley Golladay - Robert W. Baird & Co. Operator Good morning, and welcome to Getty Realty's Third Quarter 2024 Earnings Call.
Getty Realty (GTY) came out with quarterly funds from operations (FFO) of $0.59 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to FFO of $0.57 per share a year ago.
- Reports $147.6 Million of Year-to-Date Investment Activity - - Raises 2024 Full Year Earnings Guidance - NEW YORK, Oct. 23, 2024 (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 its financial and operating results for the quarter ended September 30, 2024. Third Quarter 2024 Highlights Net earnings: $0.27 per share Funds From Operations (“FFO”): $0.56 per share Adjusted Funds From Operations (“AFFO”): $0.59 per share Invested $30.2 million across 16 properties at an 8.0% initial cash yield, plus an additional $15.1 million across four properties subsequent to quarter end Raised gross proceeds of approximately $121.1 million in a follow-on common stock offering in connection with forward sales agreements Agreed to issue $125.0 million of new senior unsecured notes to certain investors in a private placement transaction Extended leases totaling 11.0% of annualized base rent, or ABR, and increased the portfolio's weighted average lease term, or WALT, to more than 10.0 years As of October 23, 2024, had a committed investment pipeline of more than $70.0 million for the development and/or acquisition of 24 convenience and automotive retail properties “We are pleased to have produced another quarter of consistent earnings growth, while expanding and diversifying our portfolio of convenience and automotive retail properties," stated Christopher J.
NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) announced today that its Board of Directors declared a cash dividend of $0.47 per common share, an increase of 4.4% over the previous quarterly dividend. The dividend is payable on January 9, 2025 to holders of record on December 26, 2024.
Getty Realty remains an attractive buy for long-term dividend investors, offering a nearly 6% yield and strong fundamentals despite recent sector cooling. GTY has shown robust growth with double-digit FFO & AFFO increases and a solid balance sheet, supporting its expansion and long-term outlook. The REIT's portfolio, focused on convenience stores and car washes, presents some risks but also significant growth potential, especially with favorable interest rate trends.
Getty Realty is a net-lease REIT with a well-diversified portfolio of properties, high occupancy, and a solid tenant base. The REIT maintains a BBB- rating with manageable debt levels and high liquidity, ensuring financial flexibility and stability even in fluctuating interest rate environments. Despite some risks, GTY stock is undervalued, offering a high dividend yield which is supported by stable cash flows.
The IPO (initial public offering) market has gotten stronger in 2024, according to the Q2 2024 quarterly review from IPO specialist Renaissance Capital. That has resulted in a more buoyant market for secondary offerings.
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.
– 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 an 8.1% initial cash yield Committed investment pipeline of more than $53 million, as of July 24, 2024, for the development and/or acquisition of 25 convenience and automotive retail properties “We continued to grow and diversify our portfolio of convenience and automotive retail properties by accretively deploying more than $100 million through the first half of the year,” stated Christopher J.
- 1(current)
What type of business is Getty Realty?
Getty Realty Corp. is a real estate investment fund in the USA, specializing in gas stations and oil distribution terminals. The company owns and leases out more than 800 properties in the northeast of the USA. The majority of its portfolio's income comes from Getty Petroleum Marketing. It owns, leases, and finances convenience store properties and gas stations operating under the brands 76, Aloha, BP, Citgo, Conoco, Exxon, Getty, Mobil, Shell, and Valero. Getty Realty Corp. was founded by Leo Liebowitz in 1955 and is headquartered in Jericho, New York.
What sector is Getty Realty in?
Getty Realty is in the Real Estate sector
What industry is Getty Realty in?
Getty Realty is in the Retail industry
What country is Getty Realty from?
Getty Realty is headquartered in United States
When did Getty Realty go public?
Getty Realty initial public offering (IPO) was on 03 May 1973
What is Getty Realty website?
https://www.gettyrealty.com
Is Getty Realty in the S&P 500?
No, Getty Realty is not included in the S&P 500 index
Is Getty Realty in the NASDAQ 100?
No, Getty Realty is not included in the NASDAQ 100 index
Is Getty Realty in the Dow Jones?
No, Getty Realty is not included in the Dow Jones index
When was Getty Realty the previous earnings report?
No data
When does Getty Realty earnings report?
The next expected earnings date for Getty Realty is 14 February 2025