Getty Rlty Corp Stock Price, News & Analysis

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.

Getty Realty Corp. (NYSE: GTY) reported fourth quarter and full year 2022 financial results, exceeding guidance. For Q4, net earnings were $0.57 per share, FFO was $0.63, and AFFO was $0.55. The full year saw net earnings of $1.88 per share, FFO of $2.44, and AFFO of $2.14. The company invested $83.3 million in 36 properties during Q4 and $157.5 million in 52 properties in 2022. A 5% dividend increase was approved, marking eight consecutive years of growth. The 2023 AFFO guidance is reaffirmed at $2.19 to $2.21 per diluted share, supported by a $110 million investment pipeline. The strong investment activity reflects strategic growth amidst market uncertainties.

Getty Realty Corp. (NYSE: GTY) has declared a cash dividend of $0.43 per common share, set for payment on April 6, 2023. Shareholders on record until March 23, 2023 will be eligible for this dividend. As of December 31, 2022, Getty Realty's portfolio comprises 1,039 properties across 38 states and Washington, D.C., focusing on net lease real estate in convenience and automotive sectors.

Getty Realty Corp. (NYSE: GTY) announced the issuance of $125 million in senior unsecured notes at a fixed rate of 3.65%, maturing on January 20, 2033. The proceeds will fully prepay its $75 million 5.35% Series B senior unsecured notes due June 2, 2023, and fund investment activities. The notes were privately placed with affiliates of Prudential, MassMutual, and New York Life. These notes will not be registered under the U.S. Securities Act of 1933.

Getty Realty specializes in net lease real estate and operates 1,039 properties across 38 states and Washington, D.C.

Getty Realty Corp. (NYSE: GTY) has officially allocated its 2022 dividend distributions for common stock, revealing a total distribution of $1.640000 per share, which includes $1.264124 as ordinary income. The dividends, detailed on Form 1099-DIV, were distributed across several record and payable dates from December 2021 to September 2022. Key dates include a record date of 12/23/2021 with a payable date of 1/6/2022. The company specializes in acquiring and developing retail real estate, operating 1,039 properties in 38 states and Washington, D.C. as of December 31, 2022.

Getty Realty Corp. (NYSE: GTY) reported its Q4 and full-year 2022 activities, highlighting a $157 million investment across 52 properties. As of December 31, 2022, the firm had a committed investment pipeline exceeding $100 million for 28 new projects. The Company plans to sell 3.7 million shares for $117.6 million via its ATM program. For 2023, Getty projects an AFFO of $2.19 to $2.21 per share. CEO Christopher J. Constant noted strong capital raises and investment activities despite market challenges.

Getty Realty Corp. (NYSE: GTY) will release its fourth-quarter financial results for the period ended December 31, 2022, on February 22, 2023, after market close. A conference call and webcast will follow on February 23, 2023, at 8:30 a.m. EDT, allowing investors to engage by dialing 1-877-423-9813 or accessing the call via the company's website. A replay will be available from 11:30 a.m. EDT on February 23 to 11:59 p.m. EDT on March 2, 2023. Getty Realty specializes in net lease retail real estate, maintaining a diverse portfolio of 1,021 properties across 38 states and D.C.