Getty Realty Corp. Provides Leasing Update

Getty Realty Corp. (NYSE: GTY) announced lease amendments that extend terms for five unitary leases totaling $10.9 million of annual base rent, representing 5.0% of total ABR as of December 31, 2025.

Rhea-AI Summary

Getty Realty Corp. (NYSE: GTY) announced lease amendments that extend terms for five unitary leases totaling $10.9 million of annual base rent, representing 5.0% of total ABR as of December 31, 2025. Pro forma, WALT rose from 9.9 to 10.4 years.

The update cuts ABR expiring in 2027 by ~70% to 1.7% of total ABR and leaves aggregate 2026–2027 expirations at less than 2.8% of total ABR. Amendments affected CrossAmerica, BP, CPD Energy, and Shahani.

Positive

• Extended leases totaling $10.9M ABR, equal to 5.0% of total ABR
• Pro forma WALT increased from 9.9 years to 10.4 years
• ABR expiring in 2027 reduced ~70% to 1.7% of total ABR
• Aggregate 2026–2027 expirations represent less than 2.8% of total ABR

Negative

• CPD Energy ABR fell from $0.8M to $0.5M (≈37.5% decline) and properties under the lease reduced from 17 to 9

Argus Mar 11 session

-0.21% close to close Open Argus

Details

News Market Reaction – GTY

In the Mar 11 session, GTY declined 0.21%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights a leasing initiative that extends major unitary leases and increases po...

Analysis

This announcement highlights a leasing initiative that extends major unitary leases and increases portfolio WALT to 10.4 years, while cutting 2027 expirations to 1.7% of total ABR. It builds on earlier disclosures of a 1,174-property portfolio and continued investment activity. Key factors to monitor include tenant concentration across CrossAmerica, BP, CPD and Shahani, the small share of ABR maturing in 2026–2027, and how these long-dated leases interact with any future capital or acquisition plans.

Key Figures

ABR under extended leases: $10.9M Portfolio WALT after: 10.4 years ABR expiring 2027: 1.7% of total ABR +5 more

ABR under extended leases

$10.9M

Annual base rent, 5.0% of total ABR as of Dec 31 2025

Portfolio WALT after

10.4 years

Pro forma weighted average lease term; up from 9.9 years

ABR expiring 2027

1.7% of total ABR

Pro forma share of ABR expiring in 2027 after leasing activity

2026–2027 expirations

less than 2.8% of ABR

Aggregate 2026 and 2027 lease expirations as share of total ABR

CrossAmerica ABR after

$7.1M

115 properties under amended leases; WALT extended to 11.3 years

BP WALT after

12.0 years

Unitary lease after two five-year renewal options to Dec 2037

CPD properties after

9 properties

Remain under CPD unitary lease; WALT extended to 15.0 years

Portfolio size

1,174 properties

Freestanding properties across 44 states and Washington, D.C. at Dec 31 2025

Historical Context

5 past events · Latest: Feb 17

5 events

1. Feb 17

   Equity offering pricing

   24h Move

   -7.2%

   Priced 4,000,000-share common stock offering for about $131M proceeds.

2. Feb 17

   Equity offering launch

   24h Move

   -7.2%

   Announced underwritten offering of 4,000,000 shares plus 600,000 overallotment.

3. Feb 11

   Earnings results

   24h Move

   +6.3%

   Reported strong 2025 results, $268.8M investments, and reaffirmed 2026 AFFO guidance.

4. Feb 10

   Dividend declaration

   24h Move

   -0.5%

   Declared regular $0.485 quarterly dividend payable April 9, 2026.

5. Jan 20

   Management transition

   24h Move

   -0.8%

   Announced CIO/COO retirement and promotion of new CIO with no COO backfill.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

net lease reit, annual base rent, weighted average lease term

3 terms

net lease reit financial

"a net lease REIT focused on convenience and automotive retail real estate"

A net lease REIT is a company that owns income-producing real estate and rents it out under leases where the tenant pays most or all property costs such as taxes, insurance and maintenance. For investors, that structure can produce steady, more predictable rental income and lower landlord responsibilities, making these REITs similar to collecting rent from tenants who handle the bills — useful for income-focused portfolios and risk assessment.

annual base rent financial

"five unitary leases totaling $10.9 million of annual base rent (“ABR”)"

Annual base rent is the fixed amount a tenant agrees to pay a landlord each year under a lease, excluding extra charges like utilities, taxes, or percentage rent. Think of it as the guaranteed subscription fee a building owner receives annually. Investors care because it provides the predictable portion of property income used to calculate cash flow, value and risk—similar to knowing a business’s steady subscription revenue before variable costs are added.

weighted average lease term financial

"The portfolio’s weighted average lease term (“WALT”) increased from 9.9 years to 10.4 years"

Weighted average lease term is the average remaining length of all leases in a property or group of properties, calculated so leases that pay more rent count more than small ones. It matters to investors because a longer weighted average lease term means steadier, more predictable rental income and less near-term risk of vacancies or renegotiations—think of it like the average remaining time on a group of paid subscriptions, weighted by subscription size.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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- Secures Long-Term Tenant Commitments and Reduces Near-Term Lease Expirations -

NEW YORK, March 11, 2026 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”), a net lease REIT focused on convenience and automotive retail real estate, today provided an update on recent leasing activity that addresses near-term maturities and improves key portfolio metrics.

The Company has extended the lease terms for five unitary leases totaling $10.9 million of annual base rent (“ABR”), or 5.0% of total ABR as of December 31, 2025. Pro forma for this leasing activity:

• The portfolio’s weighted average lease term (“WALT”) increased from 9.9 years to 10.4 years
• ABR expiring in 2027 decreased by approximately 70% to 1.7% of total ABR
• Aggregate 2026 and 2027 lease expirations represented less than 2.8% of total ABR
  
  

The unitary lease extensions include:

		As of December 31, 2025							As Extended / Amended
Tenant		Properties		ABR ($M)			WALT (yrs)		Properties		ABR ($M)			WALT (yrs)
CrossAmerica		115		$	6.6		1.3		115		$	7.1		11.3
BP		22			2.9		2.0		22			2.9		12.0
CPD Energy		17			0.8		5.0		9			0.5		15.0
Shahani		12			0.6		13.6		18			0.8		15.6
Totals		166		$	10.9		2.5		164		$	11.3		12.0

• CrossAmerica Partners LP ("CrossAmerica") agreed to amended lease terms that extended the expiration of two unitary leases by ten years to April 2037, and increased the ABR due under the leases by $0.5 million due to converting certain variable rent to fixed rent as part of the amendment.
• BP Products North America (“BP”) exercised two five-year renewal options extending the expiration of its unitary lease by ten years to December 2037.
• CPD Energy (“CPD”) agreed to amended lease terms that extended the expiration of one of its unitary leases by ten years to December 2040, and reduced the number of properties under that lease from 17 to nine. The eight properties removed from the lease include six owned properties that were transferred to Shahani, Inc. (“Shahani”) at the same ABR, and two leased properties for which the Company assigned its lease position to CPD.
• Shahani agreed to amended lease terms that extended the expiration of its unitary lease by two years to July 2041, and increased the number of properties under the lease from 12 to 18 to include the six owned properties transferred from CPD.

About Getty Realty Corp.

Getty Realty Corp. is a publicly traded, net lease REIT specializing in the acquisition, financing and development of convenience, automotive and other single tenant retail real estate. As of December 31, 2025, the Company’s portfolio included 1,174 freestanding properties located in 44 states across the United States and Washington, D.C.

Contacts:	Brian Dickman	Investor Relations
	Chief Financial Officer	(646) 349-0598
	(646) 349-6000	ir@gettyrealty.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What lease actions did Getty Realty (GTY) announce on March 11, 2026?

Getty Realty announced five unitary lease amendments extending terms and converting certain variable rent to fixed rent. According to the company, the amendments cover CrossAmerica, BP, CPD Energy, and Shahani and total $10.9 million of annual base rent.

How did the March 2026 leasing update affect GTY's weighted average lease term (WALT)?

The leasing activity increased GTY's WALT from 9.9 years to 10.4 years. According to the company, the extended terms across multiple unitary leases lengthened portfolio lease‑duration and improved long‑term cashflow visibility.

How much did Getty Realty reduce near‑term lease expirations in 2026–2027 for GTY?

Aggregate 2026 and 2027 expirations fell to less than 2.8% of total ABR, with 2027 expirations down ~70% to 1.7% of ABR. According to the company, the amendments materially reduced near‑term maturity risk.

What change occurred to CPD Energy's unitary lease in Getty Realty's March 2026 update?

CPD Energy's amendment extended one unitary lease to December 2040 while reducing properties from 17 to 9. According to the company, ABR under CPD declined from $0.8M to $0.5M as part of the restructuring.

Does the GTY leasing update include any rent conversions or ABR increases?

Yes. Getty Realty converted certain variable rent to fixed rent, increasing ABR by $0.5 million for converted leases. According to the company, this conversion contributed to the $10.9 million of annual base rent in the amendments.