Getty Realty Corp (NYSE:GTY)
$ 31.99 0.69 (2.2%) Market Cap: 1.76 Bil Enterprise Value: 2.57 Bil PE Ratio: 27.34 PB Ratio: 1.83 GF Score: 89/100
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Q2 2024 Getty Realty Corp Earnings Call Transcript

Jul 25, 2024 / 12:30PM GMT
Release Date Price: $31.77 (+3.38%)

Key Points

Positve
  • Reported a 15% year-over-year increase in annualized base rent.
  • AFFO per share increased by 3.6% year-over-year.
  • Completed over $100 million in investments year-to-date.
  • Increased full-year earnings guidance.
  • Maintained a high occupancy rate of 99.7% across their portfolio.
Negative
  • Continued challenges in the transaction and capital markets.
  • Considerable uncertainty with respect to interest rates.
  • Material bid-ask spreads between buyers and sellers.
  • Potential refinancing risk with upcoming debt maturities in 2025.
  • Limited traction in the convenience store investment front.
Operator

Good morning, and welcome to Getty Realty's Second Quarter 2024 earnings call. This call is being recorded. After the presentation, there will be an opportunity to ask questions. Prior to starting the call. Joshua Dicker, Executive Vice President, General Counsel and Secretary of the company, will read our Safe Harbor statement and provide information about non-GAAP financial measures. Please go ahead.

Mr. Dicker.

Joshua Dicker
Getty Realty Corp - Executive Vice President, General Counsel, Secretary

Thank you, operator.

I would like to thank you all for joining us for Getty Realty's second quarter earnings conference Call. Yesterday, the company released its financial operating results for the quarter ended June 30th, 2024, Form 8-K and earnings release are available in the Investor Relations section of our website at Getty Realty.com.

Certain statements made in the course of this call are not based on historical information and may constitute forward-looking statements. These statements reflect management's current expectations

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