Welcome to our dedicated page for Getty Rlty news (Ticker: GTY), a resource for investors and traders seeking the latest updates and insights on Getty Rlty stock.
Getty Realty Corp. (NYSE: GTY) is a net lease REIT focused on the acquisition, financing and development of convenience, automotive and other single-tenant retail real estate. The GTY news page on Stock Titan aggregates the company’s latest press releases and market updates so readers can follow developments affecting its portfolio of freestanding properties across 44 states and Washington, D.C.
News about Getty Realty frequently covers investment activity, such as acquisitions of convenience stores, drive-thru quick service restaurants, express tunnel car washes, auto service centers and auto parts stores. The company also reports on its development funding for new-to-industry automotive and car wash sites, as well as its committed investment pipeline for future convenience and automotive retail properties.
Investors can also find regular updates on quarterly and annual financial results, including rental income trends, FFO and AFFO performance, property dispositions, redevelopment projects and changes in environmental expenses. Capital markets announcements, such as private placements of senior unsecured notes, activity under the unsecured revolving credit facility and equity issuance through forward sale agreements, are another recurring theme in Getty Realty’s news flow.
In addition, Getty Realty publishes information on dividend declarations and its history of consecutive annual dividend increases, as well as corporate responsibility initiatives like the Getty Gives program, which supports charitable organizations and employee volunteerism. For anyone tracking GTY stock, this news page offers a centralized view of how the company is expanding and managing its net lease portfolio, financing its growth and engaging with communities. Bookmark this page to review new releases, transaction updates and financial announcements as they are reported.
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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.