Getty Realty Corp. Announces First Quarter 2026 Results

About this update from Getty Realty Corporation

- Expands Committed Investment Pipeline to More than $125 Million - - Increases 2026 Full Year Earnings Guidance - NEW YORK, April 22, 2026 (GLOBE NEWSWIRE) -- Getty Realty Corp. (NYSE: GTY) (“Getty” or the “Company”), a net lease REIT focused on convenience and automotive retail real estate, announced today its financial and operating results for the quarter ended March 31, 2026. First Quarter 2026 Highlights “Getty had a productive first quarter highlighted by strong year-over-year earnings growth and an increase to our full year 2026 earnings guidance,” stated Christopher J. Constant, Getty’s President & Chief Executive Officer. ”Investment activity in the quarter reflected our efforts to continue diversifying our portfolio and, importantly, our opportunity set is as robust as we’ve seen in several quarters. We also executed multiple strategic lease extensions that reduced near-term lease expiration risk, and completed a well-timed forward equity offering that enhanced our liquidity profile to support our growing investment pipeline. We are very well positioned to execute our 2026 business plan.” Net Earnings, FFO and AFFO All per share amounts are presented on a fully diluted per common share basis, unless stated otherwise. FFO and AFFO are “Non-GAAP Financial Measures” which are defined and reconciled to net earnings at the end of this release. Select Financial Results Revenues from Rental Properties (a)   Rental income includes base rental income, additional rental income, if any, and certain non-cash revenue recognition adjustments. For the quarter ended March 31, 2026, base rental income grew 12.5% to $55.8 million, as compared to $49.6 million for the same period in 2025. The growth in base rental income was driven by incremental revenue from recently acquired properties and contractual rent increases for in-place leases, partially offset by property dispositions. Interest (Income) on Notes and Mortgages Receivable The change in interest earned on notes and mortgages receivable was due to a net decrease in average notes and mortgages receivable outstanding as compared to the prior year period. Property Costs The improvement in property operating expenses was primarily due to a reduction in rent expense. The change in leasing and redevelopment expenses was primarily due to professional fees related to leasing acti...

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