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Getty Realty Corp. reports recurring developments as a net lease REIT focused on convenience and automotive retail real estate. Its updates center on rental income, property acquisitions, development funding and sale-leaseback activity across convenience stores, auto service centers, express tunnel car washes, drive-thru quick service restaurants and other freestanding retail properties.
Company news also covers quarterly financial results, FFO and AFFO measures, earnings guidance, regular common-stock dividends, tenant lease extensions, annual base rent exposure, weighted average lease term changes and capital actions such as common-stock offerings, senior unsecured notes and revolving credit facility repayments.
Getty Realty Corp. (GTY) announced its 2020 financial results, reporting net earnings of $69.4 million ($1.62/share) and Funds From Operations (FFO) of $99.3 million ($2.31/share). The fourth quarter saw net earnings of $33.8 million ($0.77/share) and FFO of $40 million ($0.91/share). The company maintained strong rent collections at 98% for the year, benefiting from strategic acquisitions totaling $150 million and the completion of six redevelopment projects. They anticipate 2021 Adjusted Funds From Operations (AFFO) in the range of $1.86 to $1.88/share.
Getty Realty Corp. (NYSE: GTY) will release its financial results for the fourth quarter and year ended December 31, 2020, on February 23, 2021. A conference call will follow on February 24, 2021, at 8:30 a.m. EST for stakeholders to discuss these results. Participants can join via phone or webcast through the company’s investor website. Additionally, a replay of the call will be available from February 24 to March 3, 2021. Getty Realty is a top real estate investment trust in the U.S., owning 896 properties and leasing 58 in 35 states and D.C.
Getty Realty Corp. (NYSE: GTY) has announced the allocations for its 2020 dividend distributions on common stock, totaling $1.4781 per share. The dividend includes $1.3109 as ordinary income and $0.0497 as capital gains. Key dates include a record date of December 26, 2019, and a payable date of January 9, 2020. The company, which specializes in real estate investment trusts focused on convenience stores and gas stations, owned 896 properties and leased 58 as of September 30, 2020.
Getty Realty Corp. (NYSE:GTY) has issued $175 million in senior unsecured notes, maturing in 2030 with a fixed interest rate of 3.43%. The notes were privately placed with Prudential, AIG, and MassMutual, following similar terms as existing notes. The proceeds will fully prepay $100 million of 6.0% Series A notes due February 2021 and repay $75 million of revolving credit debt. The press release serves only informational purposes and is not an offer to sell securities.
As of September 30, 2020, Getty Realty owned 896 properties across 35 states and Washington, D.C.
Getty Realty Corp. (NYSE: GTY) announced the appointment of Brian R. Dickman as Executive Vice President, Chief Financial Officer, and Treasurer, effective December 14, 2020. Dickman succeeds Danion Fielding, who is resigning for personal reasons but will remain in the role until December 11, 2020. With over 15 years of REIT experience, including leadership roles at other public companies, Dickman is expected to ensure a smooth transition and continue executing Getty's strategic plans. As of September 30, 2020, Getty owned 896 properties across 35 states.
Getty Realty Corp. (NYSE: GTY) has announced an increase in its regular quarterly cash dividend to $0.39 per common share. This dividend will be payable on January 7, 2021, to shareholders on record as of December 24, 2020. As of September 30, 2020, Getty Realty owns 896 properties and leases 58 properties, making it a leading publicly traded real estate investment trust focused on convenience store and gasoline station properties in the U.S.
Getty Realty Corp. (GTY) reported its financial results for Q3 2020, showing net earnings of $11.9 million ($0.27 per share) and Funds From Operations (FFO) of $20.8 million ($0.48 per share). The company acquired nine properties totaling $36.1 million and demonstrated strong rent collection at 98% for October. Despite the ongoing COVID-19 pandemic, the firm has maintained solid performance due to its essential tenant portfolio. However, it withdrew its 2020 earnings guidance amidst economic uncertainty.
Getty Realty Corp. (NYSE:GTY) will announce its third-quarter financial results for the period ending September 30, 2020, on October 21, 2020, after market hours. A conference call and webcast will take place on October 22, 2020, at 8:30 a.m. EDT, with participation options available by phone or via the company’s website. Getty Realty Corp. specializes in convenience store and gasoline station properties, owning 887 properties and leasing 59 from third-party landlords across 35 states and Washington, D.C.