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Getty Realty Corp. (GTY)
NYSE:GTY
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Earnings Data
Report Date
Feb 12, 2025After Close Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.32Last Year’s EPS
$0.3Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -6.20%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant growth in base rent, AFFO per share, and strategic investments, alongside strong capital management and dividend growth. Despite these positives, challenges in the transaction market and macroeconomic uncertainties were noted. However, the overall sentiment remains optimistic about future growth and stability.Company Guidance
During the third quarter 2024 earnings call of Getty Realty (GTY), the company raised its full-year AFFO per share guidance to a range of $2.32 to $2.33, reflecting strong financial performance and strategic investments. The company reported a 13.1% increase in annualized base rent, while AFFO per share grew by 3.5% for the quarter and 3.6% year-to-date. Getty Realty invested approximately $148 million year-to-date at an 8% initial cash yield, with a focus on convenience and automotive retail sectors. The company also expanded its portfolio by adding five new tenants and extending four unitary leases representing over 13% of its annualized base rent. Furthermore, the board approved a 4.4% increase in the quarterly dividend to $0.47 per share, marking the 11th consecutive year of dividend growth. Despite market uncertainties, Getty Realty remains confident in its ability to execute its growth strategy with a strong balance sheet and significant liquidity.Annualized Base Rent Increase
Reported a 13.1% increase in annualized base rent over the prior year.
AFFO Per Share Growth
AFFO per share growth of 3.5% for the quarter and 3.6% year-to-date, leading to raised full year 2024 AFFO per share guidance.
Investment and Acquisition Activity
Invested approximately $148 million year-to-date at an 8% initial cash yield, with more than $70 million of assets under contract at a blended cap rate approaching mid-8%.
Dividend Increase
Board approved a 4.4% increase in the recurring quarterly dividend to $0.47 per share, marking the 11th consecutive year of dividend growth.
Portfolio Expansion and Redevelopment
Completed a new Chipotle restaurant and signed leases for three new redevelopment projects. Extended two material unitary leases, representing 11% of ABR.
Strong Capital Position
Raised over $245 million in common equity and unsecured debt, maintaining a strong liquidity position with over $495 million of available capital.
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GTY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GTY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $32.26 | $32.62 | +1.12% |
| Jul 24, 2024 | $30.30 | $31.32 | +3.37% |
| Apr 25, 2024 | $26.20 | $26.08 | -0.46% |
| Feb 14, 2024 | $25.59 | $26.21 | +2.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Getty Realty Corp. (GTY) report earnings?
Getty Realty Corp. (GTY) is schdueled to report earning on Feb 12, 2025, After Close Not Confirmed.
What is Getty Realty Corp. (GTY) earnings time?
Getty Realty Corp. (GTY) earnings time is at Feb 12, 2025, After Close Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GTY EPS forecast?
GTY EPS forecast for the fiscal quarter 2024 (Q4) is $0.32.
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