GTY
Getty Realty Corp
About: Getty Realty Corp is the real estate investment trust in the U.S. specializing in the acquisition, financing, and development of convenience, automotive, and other single tenant retail real estate. The company's portfolio includes convenience stores, car washes, automotive service centers (gasoline and repair, oil and maintenance, tire and battery, collision), automotive parts retailers, and certain other freestanding retail properties, including drive-thru quick service restaurants. It generates majority of the revenue in the form of rental income.
Employees: 32
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
254% more call options, than puts
Call options by funds: $531K | Put options by funds: $150K
72% more first-time investments, than exits
New positions opened: 43 | Existing positions closed: 25
31% more repeat investments, than reductions
Existing positions increased: 94 | Existing positions reduced: 72
29% more capital invested
Capital invested by funds: $1.14B [Q2] → $1.48B (+$332M) [Q3]
8% more funds holding
Funds holding: 232 [Q2] → 250 (+18) [Q3]
0.24% more ownership
Funds ownership: 79.36% [Q2] → 79.6% (+0.24%) [Q3]
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
Low target
$34
11%
upside
Avg. target
$34
11%
upside
High target
$34
11%
upside
1 analyst rating
1 positive
100%
0 neutral
0%
0 negative
0%
B of A Securities Joshua Dennerlein 46% 1-year accuracy 6 / 13 met price target | 11%upside $34 | Buy Upgraded | 21 Oct 2024 |
Financial journalist opinion
Positive
Seeking Alpha
2 weeks ago
Property Type Round-Up From REITworld 2024
REITs are poised for growth with stabilizing interest rates, low new supply, and robust balance sheets supporting higher rents and long-term asset growth. Healthcare REITs benefit from strong senior housing demand and limited new supply, despite valuation debates and management changes at Healthcare Realty. Multifamily and single-family rental sectors show regional variability, but long-term growth driven by demographic trends.
Neutral
GlobeNewsWire
3 weeks ago
Getty Realty Corp. Closes $125 Million Private Placement of Senior Unsecured Notes
NEW YORK, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”) announced today the closing of its previously disclosed private placement of $125 million of senior unsecured notes, including (i) $50 million of notes priced at a fixed rate of 5.52% and maturing September 12, 2029 and (ii) $75 million of notes priced at a fixed rate of 5.70% and maturing February 22, 2032.
Positive
Forbes
1 month ago
Beat Back Market Turbulence With These Yields Up To 9%
Election. Recession. No landing. Social unrest. Election contest. Low beta, anyone? Today we'll talk calm in a sea of manic. A six-pack of tranquil dividend payers yielding up to 8.9%.
Positive
Seeking Alpha
1 month ago
Getty Realty: Solid Q3 Results Given Stable Cash Flow And Accretive M&A
Getty Realty has gained 23% in the past year, driven by expectations of Federal Reserve rate cuts, and offers a 5.8% dividend yield. The company's stable business model, with 99.7% occupancy and strong tenant credit profiles, ensures consistent cash flow and minimal delinquency risk. Getty's long-term leases with automatic escalators and a solid balance sheet support its acquisitive growth strategy, yielding 8% on new deals.
Neutral
Seeking Alpha
1 month ago
Getty Realty Corp. (GTY) Q3 2024 Earnings Call Transcript
Getty Realty Corp. (NYSE:GTY ) Q3 2024 Earnings Conference Call October 24, 2024 8:30 AM ET Company Participants Joshua Dicker - Executive Vice President, General Counsel and Secretary Christopher Constant - President and Chief Executive Officer Mark Olear - Executive Vice President and Chief Operating Officer Brian Dickman - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Farrell Granath - Bank of America Mitch Germain - Citizens JMP Securities Upal Rana - KeyBanc Capital Markets Wesley Golladay - Robert W. Baird & Co. Operator Good morning, and welcome to Getty Realty's Third Quarter 2024 Earnings Call.
Positive
Zacks Investment Research
1 month ago
Getty Realty (GTY) Q3 FFO and Revenues Surpass Estimates
Getty Realty (GTY) came out with quarterly funds from operations (FFO) of $0.59 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to FFO of $0.57 per share a year ago.
Neutral
GlobeNewsWire
1 month ago
Getty Realty Corp. Announces Third Quarter 2024 Results
- Reports $147.6 Million of Year-to-Date Investment Activity - - Raises 2024 Full Year Earnings Guidance - NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”), a net lease REIT focused on convenience and automotive retail real estate, announced today its financial and operating results for the quarter ended September 30, 2024. Third Quarter 2024 Highlights Net earnings: $0.27 per share Funds From Operations (“FFO”): $0.56 per share Adjusted Funds From Operations (“AFFO”): $0.59 per share Invested $30.2 million across 16 properties at an 8.0% initial cash yield, plus an additional $15.1 million across four properties subsequent to quarter end Raised gross proceeds of approximately $121.1 million in a follow-on common stock offering in connection with forward sales agreements Agreed to issue $125.0 million of new senior unsecured notes to certain investors in a private placement transaction Extended leases totaling 11.0% of annualized base rent, or ABR, and increased the portfolio's weighted average lease term, or WALT, to more than 10.0 years As of October 23, 2024, had a committed investment pipeline of more than $70.0 million for the development and/or acquisition of 24 convenience and automotive retail properties “We are pleased to have produced another quarter of consistent earnings growth, while expanding and diversifying our portfolio of convenience and automotive retail properties," stated Christopher J.
Neutral
GlobeNewsWire
1 month ago
Getty Realty Corp. Announces Increased Quarterly Cash Dividend
NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) announced today that its Board of Directors declared a cash dividend of $0.47 per common share, an increase of 4.4% over the previous quarterly dividend. The dividend is payable on January 9, 2025 to holders of record on December 26, 2024.
Neutral
Seeking Alpha
2 months ago
U.S. REITs Log Dip In Short Interest In September
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.
Positive
Seeking Alpha
2 months ago
Getty Realty: Double-Digit AFFO Growth, Near 6% Yield Make Them A Long-Term Buy
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.
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