Getty Realty Corp. (GTY)
NYSE:GTY
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Getty Realty
(NYSE:GTY)
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Rating:78Outperform
Price Target:
$38.00
▲(9.79% Upside)
Action:ReiteratedDate:04/28/26
The score is driven primarily by solid underlying financial performance (strong cash generation) and a positive earnings update with raised AFFO guidance, high occupancy, and strong liquidity. Technicals support a stable uptrend, while valuation is reasonable with an attractive dividend. Key risks tempering the score are meaningful leverage and some volatility/uncertainty in reported margin/coverage metrics.
Positive Factors
High occupancy and long lease tenor
Near-100% occupancy with a 10.1-year weighted average lease term and healthy 2.5x tenant rent coverage underpin predictable, durable cash flows. Long WALT reduces rollover risk and supports steady rental income and dividend coverage over the medium term.
Negative Factors
Leverage at the upper end of target range
Meaningful leverage constrains financial flexibility and raises refinancing and interest-rate sensitivity risk. With net debt near the top of the stated range, unexpected cash-flow pressure or higher rates could limit acquisition firepower or require equity issuance, affecting returns.
Read all positive and negative factors
Positive Factors
Negative Factors
High occupancy and long lease tenor
Near-100% occupancy with a 10.1-year weighted average lease term and healthy 2.5x tenant rent coverage underpin predictable, durable cash flows. Long WALT reduces rollover risk and supports steady rental income and dividend coverage over the medium term.
Read all positive factors
Getty Realty (GTY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.00B
Dividend Yield6.77%
Average Volume (3M)441.92K
Price to Earnings (P/E)17.9
Beta (1Y)0.13
Revenue Growth8.23%
EPS Growth24.98%
CountryUS
Employees29
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)1.56
Shares Outstanding60,467,030
10 Day Avg. Volume401,312
30 Day Avg. Volume441,921
Financial Highlights & Ratios
PEG Ratio2.72
Price to Book (P/B)1.44
Price to Sales (P/S)6.95
P/FCF Ratio12.14
Enterprise Value/Market Cap1.50
Enterprise Value/Revenue13.18
Enterprise Value/Gross Profit48.25
Enterprise Value/Ebitda11.09
Forecast
1Y Price Target
$34.40Price Target Upside-0.61% Downside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)1.45
Revenue Forecast (FY)$236.49M
Getty Realty Business Overview & Revenue Model
Company Description
Getty Realty Corp. is the leading publicly traded real estate investment trust in the United States specializing in the ownership, leasing and financing of convenience store and gasoline station properties. As of September 30, 2020, the Company ow...
How the Company Makes Money
Getty Realty makes money primarily by collecting contractual rental income from tenants under long-term net leases (often structured so the tenant pays many property-level expenses such as real estate taxes, insurance, and maintenance), which supp...
Getty Realty Earnings Call Summary
Earnings Call Date:Apr 22, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive operating and capital markets picture: robust rent growth (13.1% YoY), AFFO/share improvement (6.8% YoY), an upward revision to full-year guidance, near-full occupancy, strong tenant coverage, and substantial liquidity and investment pipeline. Headwinds cited were manageable (leverage near the top of target range, pipeline yields in the mid–high 7% area, shorter lease terms on recent granular deals, and acknowledged geopolitical/fuel risks). On balance, positives significantly outweigh the negatives.Positive Updates
Strong Rent Growth
Annualized base rent increased 13.1% year-over-year, driven by in-place portfolio performance and lease activity.
Negative Updates
Leverage Near Upper Target
Net debt to EBITDA of 5.1x is toward the higher end of the 4.5x–5.5x target range (though improves to 4.2x when including unsettled forward equity), indicating limited additional leverage flexibility without capital raises.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Rent Growth
Annualized base rent increased 13.1% year-over-year, driven by in-place portfolio performance and lease activity.
Read all positive updates
Company Guidance
Getty raised full‑year 2026 AFFO per share guidance to $2.50–$2.52 (from $2.48–$2.50), a range based on the in‑place portfolio that excludes prospective investments or capital markets activity and assumes a 25‑bp credit loss; Q1 AFFO was $0.63 (up 6.8% YoY), FFO $0.69/share and net income $0.43/share. Management expects G&A growth of less than 2% in 2026, cash G&A around $20 million and a G&A ratio (ex‑SBC/retirement) to fall below 9% after a Q1 ratio of 9.2% (down 130 bps YoY). Balance sheet and liquidity metrics are strong: net debt/EBITDA 5.1x (4.2x including unsettled forward equity) versus a 4.5–5.5x target, fixed‑charge coverage 4x, $1.0 billion unsecured notes outstanding at a 4.5% weighted average rate and six‑year maturity, $450 million revolver undrawn, no debt maturities until June 2028, and more than $625 million of total liquidity (including 5.5 million forward shares expected to raise roughly $171.5 million). The company has invested $34.4 million year‑to‑date at an 8% initial cash yield, has approximately $125 million of investments under contract and a larger pipeline skewed to development funding with initial cash yields in the mid‑to‑high‑7% range.Getty Realty Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 227.24M | 221.73M | 203.39M | 185.85M | 165.59M | 155.41M |
| Gross Profit | 62.05M | 89.11M | 188.53M | 162.06M | 144.03M | 133.36M |
| EBITDA | 269.87M | 187.50M | 170.76M | 143.02M | 145.95M | 113.20M |
| Net Income | 91.03M | 79.19M | 71.06M | 60.15M | 90.04M | 62.86M |
Balance Sheet | ||||||
| Total Assets | 2.18B | 2.17B | 1.97B | 1.82B | 1.56B | 1.47B |
| Cash, Cash Equivalents and Short-Term Investments | 8.14M | 12.78M | 9.48M | 3.31M | 8.71M | 24.74M |
| Total Debt | 1.01B | 1.06B | 918.90M | 772.74M | 714.97M | 608.84M |
| Total Liabilities | 1.09B | 1.10B | 1.01B | 866.75M | 802.45M | 721.84M |
| Stockholders Equity | 1.09B | 1.07B | 962.08M | 955.55M | 759.85M | 745.11M |
Cash Flow | ||||||
| Free Cash Flow | 131.46M | 127.02M | 129.63M | 104.99M | 93.09M | 86.55M |
| Operating Cash Flow | 131.88M | 127.45M | 130.50M | 105.30M | 93.09M | 86.82M |
| Investing Cash Flow | -257.49M | -241.89M | -200.47M | -310.70M | -139.06M | -169.73M |
| Financing Cash Flow | 123.36M | 113.61M | 78.30M | 199.44M | 30.76M | 52.32M |
Getty Realty Technical Analysis
Positive
34.61
Price Trends
32.40
Positive
30.18
Positive
28.33
Positive
Market Momentum
0.59
Negative
73.52
Negative
92.26
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GTY, the sentiment is Positive. The current price of 34.61 is above the 20-day moving average (MA) of 32.75, above the 50-day MA of 32.40, and above the 200-day MA of 28.33, indicating a bullish trend. The MACD of 0.59 indicates Negative momentum. The RSI at 73.52 is Negative, neither overbought nor oversold. The STOCH value of 92.26 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GTY.
Getty Realty Risk Analysis
Getty Realty disclosed 36 risk factors in its most recent earnings report. Getty Realty reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Getty Realty Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.00B | 17.87 | 8.76% | 6.77% | 8.23% | 24.98% | |
74 Outperform | $2.78B | 21.30 | 7.40% | 6.10% | 10.16% | 3.37% | |
73 Outperform | $2.90B | 214.92 | 1.72% | 3.13% | 54.10% | 154.17% | |
70 Outperform | $1.94B | 14.09 | 11.37% | 3.97% | 4.00% | 33.58% | |
67 Neutral | $1.97B | 79.09 | 0.78% | 4.61% | 20.51% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
57 Neutral | $318.10M | 32.01 | 0.27% | 7.01% | 19.95% | -181.87% |
* Real Estate Sector Average
GTY
Getty Realty
33.11
6.85
26.07%
WSR
Whitestone REIT
18.94
6.78
55.74%
FCPT
Four Corners Property
25.37
-0.76
-2.92%
PINE
Alpine Income Property Trust Inc
19.25
5.05
35.58%
NTST
NETSTREIT
20.15
4.81
31.36%
CURB
Curbline Properties Corp.
27.49
4.78
21.07%
Getty Realty Corporate Events
Executive/Board ChangesShareholder Meetings
Getty Realty Shareholders Reaffirm Board, Pay and Auditor
Positive
Apr 27, 2026
At its April 21, 2026 annual meeting, Getty Realty stockholders elected six directors, including Christopher J. Constant and Milton Cooper, to serve until the next annual meeting, reaffirming the company’s existing leadership structure. Shar...
Business Operations and StrategyFinancial Disclosures
Getty Realty Raises 2026 AFFO Guidance on Strong Growth
Positive
Apr 22, 2026
Getty Realty Corp., a REIT specializing in freestanding convenience and automotive retail real estate such as convenience stores, car washes, auto service centers and drive-thru QSRs, reported that as of March 31, 2026 it controlled 1,191 properti...
Business Operations and StrategyFinancial Disclosures
Getty Realty Highlights Strong Liquidity and Growth Outlook
Positive
Feb 11, 2026
Getty Realty Corp., a REIT specializing in freestanding convenience and automotive retail real estate such as convenience stores, car washes, auto service centers and drive-thru QSRs, operates 1,174 properties across 44 states with 99.7% occupancy...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.