Annualized Base Rent Growth
Getty Realty grew its annualized base rent by 9.9% to approximately $204 million during the second quarter.
AFFO Per Share Increase
AFFO per share increased by 1.7% compared to the prior year, reaching $0.59.
High Occupancy Rate
Getty Realty reported an occupancy rate of 99.7% for its lease portfolio, excluding active redevelopments.
Strong Rent Collections
Nearly 100% rent collections with annual rent increases averaging 1.8% and stable rent coverage.
Enhanced Investment Activity
Year-to-date, Getty Realty closed $95.5 million of investments at an initial cash yield of 8.1%.
Investment Pipeline
Getty Realty has a $90+ million investment pipeline, with a majority allocated to automotive service centers.
Improved Rent Coverage
Strong trailing 12 months rent coverage of 2.6x this quarter, with improvements in convenience store and car wash portfolios.