Getty Rlty Corp Stock Price, News & Analysis

Getty Realty Corp. (NYSE: GTY) has announced its financial results for Q1 2023, showing a net earnings of $0.28 per share and an increase in Adjusted Funds From Operations (AFFO) to $0.56 per share, reflecting nearly 8% growth year-over-year. The Company invested $60.7 million across 26 properties and an additional $12.7 million post-quarter end. As of April 26, 2023, Getty has a committed investment pipeline exceeding $105 million for 34 properties. The Company raised its 2023 AFFO guidance to a range of $2.22 to $2.24 per diluted share, up from the earlier $2.19 to $2.21. Despite an increase in general and administrative expenses, Getty maintains a strong balance sheet with no scheduled debt maturities until 2025.

Getty Realty Corp. (NYSE: GTY) has declared a cash dividend of $0.43 per common share, slated for payment on July 6, 2023. The dividend will benefit shareholders on record as of June 22, 2023. As of December 31, 2022, Getty Realty's portfolio encompassed 1,039 properties across 38 states in the United States and Washington, D.C., focusing on net lease real estate in the convenience and automotive sectors. The announcement reflects the company's commitment to returning value to its shareholders while maintaining a robust property portfolio.

Getty Realty Corp. (NYSE: GTY) is set to release its financial results for Q1 ended March 31, 2023, after the market closes on April 26, 2023.

A conference call will occur on April 27, 2023, at 8:30 a.m. EDT, accessible via phone or live webcast at ir.gettyrealty.com.

A replay will be available on the same day starting at 11:30 a.m. EDT until May 4, 2023. Getty Realty specializes in net lease REITs, with a portfolio of 1,039 properties across 38 states and Washington, D.C.

Getty Realty Corp. (NYSE: GTY) announced the pricing of a public offering of 3,000,000 shares of its common stock, generating approximately $100 million in gross proceeds. The offering, which includes a 30-day option for underwriters to purchase an additional 450,000 shares, is set to close on March 3, 2023. BofA Securities and J.P. Morgan are the book-running managers. The net proceeds will be utilized for property acquisitions, debt repayment, working capital, and other general corporate purposes. The offering is part of a strategy outlined in an automatic shelf registration statement effective since January 8, 2021.

Getty Realty Corp. (NYSE: GTY) announced a public offering of 3,000,000 shares of common stock with an option for underwriters to purchase an additional 450,000 shares. BofA Securities and J.P. Morgan are the book-running managers. The company will enter into forward sale agreements with these institutions, allowing them to sell shares borrowed from third parties. Proceeds from the offering will be used for property acquisitions, debt repayment, working capital, and general corporate purposes. The company will not initially receive proceeds from the share sales, but expects to settle the agreements within a year.

Getty Realty Corp. (NYSE: GTY) announces the retirement of Richard E. Montag from its Board of Directors, effective February 21, 2023. Montag served for over 12 years, contributing significantly as a member of the Audit and Compensation Committees. He previously held a senior executive role in the real estate sector, notably as Vice President at the Richard E. Jacobs Group. Getty's President, Christopher J. Constant, expressed gratitude for Montag's contributions and expertise in real estate management, stating he will be missed. As of December 31, 2022, Getty's portfolio comprises 1,039 properties across 38 states and Washington, D.C.