Q4 2024 Getty Realty Corp Earnings Call Transcript

Feb 13, 2025 / 01:30 PM GMT

Release Date Price: €28.6 (-1.38%)

Transcript 10-K8-K

Key Points

Positve

Getty Realty Corp (GTY) reported a 14.5% increase in annualized base rent, reaching approximately $198 million.
The company exceeded its AFFO per share guidance, reporting $2.34, a 4% increase over the previous year.
Getty Realty Corp (GTY) successfully invested $209 million in high-quality convenience and automotive retail assets.
The company expanded its presence in top metropolitan statistical areas (MSAs) across the U.S.
Getty Realty Corp (GTY) maintained a strong occupancy rate of 99.7% with a weighted average lease term of 10.2 years.

Negative

The bankruptcy of Zips Car Wash, a tenant representing 1.8% of total ABR, poses a risk to rental income.
Getty Realty Corp (GTY) revised its AFFO guidance downward due to potential rent adjustments and downtime from the Zips situation.
The company faces challenges in the net lease transaction market due to broader economic concerns and a slowdown in financing opportunities.
There is a persistent gap in pricing expectations between buyers and sellers, impacting sale leaseback transactions.
Interest rates are expected to remain high, which could affect future investment opportunities and cap rate compression.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GTY.N - Getty Realty Corp
Q4 2024 Getty Realty Corp Earnings Call
Feb 13, 2025 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to Getty Realty. 4th 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 Decker, executive Vice President, general counsel, and secretary of the company, will read a safe hour statement and provide information about non-gap financial measures.

Please go ahead, Mr. Decker.

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Unidentified_2 [2]
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Thank you, operator. I would like to thank you all for joining us for Getty Realty's 4th quarter

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