GTY Stock Recent News
GTY LATEST HEADLINES
Getty Realty (GTY) came out with quarterly funds from operations (FFO) of $0.57 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.56 per share a year ago.
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Getty Realty: Strong Dividend Growth And Valuation Makes It A Solid REIT
While the top- and bottom-line numbers for Getty Realty (GTY) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Getty Realty's shares have underperformed due to its equity issuance and the impact of electric vehicle penetration on gasoline-related businesses. GTY owns 1,480 properties across 40 states, focused on convenience stores, gas stations, and car washes, providing stable and growing cash flow. Getty's properties have a high occupancy rate of 99.7% and a long average lease life, ensuring a high certainty of cash flow in the coming years.
NEW YORK--(BUSINESS WIRE)--Getty Realty Corp. (NYSE: GTY) will release its financial results for the fourth quarter ended December 31, 2023, after the market closes on Wednesday, February 14, 2024. Getty Realty Corp. will host a conference call and webcast on Thursday, February 15, 2024, at 8:30 a.m. EST. To participate in the call, please dial 1-877-423-9813, or 1-201-689-8573 for international participants, ten minutes before the scheduled start. Participants may also access the call via live.
Realty Income Corporation recently acquired Spirit Realty Capital, Inc. in a $9.3 billion all-stock deal. W.P. Carey announced the spinoff of its office assets into a publicly traded REIT called Net Lease Office Properties. The net lease sector is expected to see a surge in M&A activity as smaller firms struggle and costs of capital remain elevated.
Getty Realty is a net lease REIT focused on properties catering to the automotive segment. GTY stock has seen a significant downturn in price, pushing the dividend yield up to 6.8%. Despite market concerns, GTY maintains high asset quality, strong occupancy rates, and a well-positioned portfolio.