Getty Realty (GTY) News & Sentiment

Getty Realty offers a 6% dividend yield, steady AFFO growth, and a disciplined property acquisition strategy, making it a decent high-yield investment opportunity. GTY's portfolio focuses on automotive retail and convenience, with a strong occupancy rate of 99.7%. With a forward P/FFO of 13.5 and growth opportunities in a fragmented market, GTY is an attractive buy for income investors seeking stability and long-term value.

Getty Realty Corp. (NYSE:GTY ) Q4 2024 Earnings Conference Call February 13, 2025 9:00 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 Mitch Germain - Citizens JMP Farrell Granath - Bank of America Wesley Golladay - Baird Upal Rana - KeyBanc Capital Markets Operator Good morning, and welcome to Getty Realty's Fourth Quarter 2024 Earnings Call. This call is being recorded.

NEW YORK, Feb. 11, 2025 (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 that its Board of Directors declared a cash dividend of $0.47 per common share payable on April 10, 2025 to holders of record on March 27, 2025.

Getty Realty Corp. generates most of its revenue from leasing properties to fuel stations, a sector that needs to adapt to rising EV adoption and improved fuel efficiency. GTY's lack of DC Fast Charging stations means missing out on potential revenue from charging and associated spend of EV drivers at co-located convenience stores/QSRs. Despite minimal exposure to California, geographic diversification does not shield GTY from the EV transition. We see significant YoY growth in new EV registrations across key states of its portfolio.

The New Year could pose challenges as markets absorb the Fed's latest interest rate cuts and the sell-off in global equities. However, higher-yielding investments can offer income and hedging opportunities. The S&P 500's Shiller price-to-earnings (P/E) Ratio, among other historic indicators, underscores fears of a potential bear market. Income-generating stocks can help offset potential losses and continued risks of market volatility, inflation, and prolonged high interest rates.

Getty Realty has underperformed despite a stable, low-risk business profile and strong financial results, making it an attractive buy opportunity. The REIT's high-quality tenant base and 99.7% occupancy rate ensure steady cash flows and low renewal risk, supporting its financial stability. Capital market reliance and rising interest rates pose risks, but Getty's cost of capital remains manageable, with ongoing M&A activities expected to be accretive.

NEW YORK, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) will release its financial results for the fourth quarter ended December 31, 2024, after the market closes on Wednesday, February 12, 2025.

NEW YORK, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”) announced today the closing of its previously disclosed private placement of $125 million of senior unsecured notes, including (i) $50 million of notes priced at a fixed rate of 5.52% and maturing September 12, 2029 and (ii) $75 million of notes priced at a fixed rate of 5.70% and maturing February 22, 2032.

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.