News about GTY

Getty Realty reported Q3 2026 base rental income of $59.3 million, up 13.8% year over year, driven by recently acquired properties and contractual rent increases. AFFO per share was $0.64, up 3.2%, and year-to-date AFFO per share rose 5% to $1.89. Year-to-date investments reached $502.3 million at a 7.2% initial cash yield, including a $261 million off-market purchase of 41 convenience stores from Refuel at a 6.9% yield. The company narrowed its full-year AFFO guidance to $2.53–$2.54 per share and raised its quarterly dividend 3.1% to $0.50, the 13th consecutive year of dividend growth. Net debt to EBITDA stood at 5.2x (5.0x including unsettled forward equity), within the 4.5x–5.5x target, but management warned some deals may be abandoned if the parties cannot agree on repricing.