Getty Realty reports Q3 AFFO 59c, consensus 58c

Reports Q3 revenue $51.47M, consensus $49.79M. “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. Constant, Getty’s president and CEO. “We continue to leverage our expertise and relationships to identify attractive investment opportunities, having deployed more than $147 million year to date and increasing our committed pipeline to more than $70 million. Our active approach to asset management also continues to generate additional value-creation opportunities as we advanced a number of redevelopment projects and increased our weighted average lease term to more than 10 years through the extension of two material unitary leases. Finally, we raised more than $245 million of equity and debt capital to accretively fund our investment activity, further strengthen our balance sheet, and support our strategic objectives as we move through the end of the year and into 2025.”