GTY Stock Recent News

NEW YORK, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) announced today the allocations of the Company's 2024 dividend distributions on its common stock (CUSIP #374297109). The allocations as they will be reported on Form 1099-DIV are as follows:

US equity markets tumbled this week while benchmark interest rates surged to the cusp of multi-decade highs after a critical slate of employment data showed surprisingly buoyant labor market trends. Prompting a hawkish re-think of Fed policy expectations, inflation worries were further inflamed by surging energy prices amid frigid temperatures across the Central and East, while L.A. battled destructive wildfires. Real estate equities - the most rate-sensitive sector - were significant laggards this week as rate cut expectations soured, with REITs extending their year-end slide into early 2025.

Getty Realty boasts robust fundamentals, with a 99.7% occupancy rate and consistent rental collections, supporting its strong financial performance and dividend growth. The REIT's diversified portfolio spans 42 states, with significant exposure to convenience stores and automotive facilities, though tenant concentration poses some risk. We think its BBB- credit rating is borderline and its rental increase rate seems low. Nonetheless, Getty's solid asset allocation and external liquidity access likely enhance its financial stability.

The New Year could pose challenges as markets absorb the Fed's latest interest rate cuts and the sell-off in global equities. However, higher-yielding investments can offer income and hedging opportunities. The S&P 500's Shiller price-to-earnings (P/E) Ratio, among other historic indicators, underscores fears of a potential bear market. Income-generating stocks can help offset potential losses and continued risks of market volatility, inflation, and prolonged high interest rates.

Average REIT short interest fell 8 basis points in September to 3.7% of shares outstanding, per S&P Global Market Intelligence data. The hotel sector followed with a 60-basis point drop, while the office sector remained the most-shorted at 5.3% of shares outstanding. Wheeler Real Estate Investment Trust logged the largest increase in short interest, up 16 percentage points to 32.4% of shares outstanding.

Getty Realty remains an attractive buy for long-term dividend investors, offering a nearly 6% yield and strong fundamentals despite recent sector cooling. GTY has shown robust growth with double-digit FFO & AFFO increases and a solid balance sheet, supporting its expansion and long-term outlook. The REIT's portfolio, focused on convenience stores and car washes, presents some risks but also significant growth potential, especially with favorable interest rate trends.

Getty Realty is a net-lease REIT with a well-diversified portfolio of properties, high occupancy, and a solid tenant base. The REIT maintains a BBB- rating with manageable debt levels and high liquidity, ensuring financial flexibility and stability even in fluctuating interest rate environments. Despite some risks, GTY stock is undervalued, offering a high dividend yield which is supported by stable cash flows.

Agree Realty owns retail properties, like grocery stores and home improvement locations. Getty Realty owns gas stations and other auto-related convenience properties.

Postal Realty Trust is a net lease REIT focused on USPS properties, with a 6.2 million SF portfolio and growth potential through consolidation. Getty Realty specializes in convenience stores and automotive properties, with a 1,124-property portfolio, strong tenant coverage, and consistent growth. Both PSTL and GTY offer solid dividends, trade at discounts, and are rated as Buy opportunities for potential growth in the net lease REIT sector.

Pilot Travel Centers is now completely owned by Berkshire Hathaway. Getty Realty is a similar company that owns gas stations and convenience stores.