Getty Realty: Great Time To Fill Up On This High Yielder
Getty Realty offers a 6% dividend yield, steady AFFO growth, and a disciplined property acquisition strategy, making it a decent high-yield investment opportunity. GTY's portfolio focuses on automotive retail and convenience, with a strong occupancy rate of 99.7%. With a forward P/FFO of 13.5 and growth opportunities in a fragmented market, GTY is an attractive buy for income investors seeking stability and long-term value.
Getty Realty Corp. (GTY) Q4 2024 Earnings Call Transcript
Getty Realty Corp. (NYSE:GTY ) Q4 2024 Earnings Conference Call February 13, 2025 9:00 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 Mitch Germain - Citizens JMP Farrell Granath - Bank of America Wesley Golladay - Baird Upal Rana - KeyBanc Capital Markets Operator Good morning, and welcome to Getty Realty's Fourth Quarter 2024 Earnings Call. This call is being recorded.
Getty Realty (GTY) Q4 FFO and Revenues Surpass Estimates
Getty Realty (GTY) came out with quarterly funds from operations (FFO) of $0.60 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to FFO of $0.57 per share a year ago.
Adapting To Change: Getty Realty And The EV Transition
Getty Realty Corp. generates most of its revenue from leasing properties to fuel stations, a sector that needs to adapt to rising EV adoption and improved fuel efficiency. GTY's lack of DC Fast Charging stations means missing out on potential revenue from charging and associated spend of EV drivers at co-located convenience stores/QSRs. Despite minimal exposure to California, geographic diversification does not shield GTY from the EV transition. We see significant YoY growth in new EV registrations across key states of its portfolio.
Getty Realty: This Overlooked Near 6% Yielder Is Even More Attractive Than Before
Getty Realty Corp. is an attractive REIT with a near 6% yield, strong fundamentals, and solid investment activity, making it a compelling buy for income investors. GTY's Q3 performance was impressive, beating revenue and FFO estimates, raising full-year AFFO guidance, and maintaining a high occupancy rate of 99.7%. The REIT has deleveraged its balance sheet, improved liquidity, and is well-positioned to benefit from declining interest rates, enhancing its long-term growth potential.
Getty Realty's Updated Guidance Adds To Its Solid Baseline
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.
3 High-Yielding Dividend Stocks For 2025
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.
Getty Realty: Pullback Creates Opportunity As Capital Market Risk Is Manageable
Getty Realty has underperformed despite a stable, low-risk business profile and strong financial results, making it an attractive buy opportunity. The REIT's high-quality tenant base and 99.7% occupancy rate ensure steady cash flows and low renewal risk, supporting its financial stability. Capital market reliance and rising interest rates pose risks, but Getty's cost of capital remains manageable, with ongoing M&A activities expected to be accretive.
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.
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.
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.
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.
